GAMMA Investing LLC Increases Stake in Macy's, Inc. (NYSE:M)

GAMMA Investing LLC grew its stake in Macy's, Inc. (NYSE:M - Free Report) by 1,188.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,086 shares of the company's stock after purchasing an additional 40,665 shares during the quarter. GAMMA Investing LLC's holdings in Macy's were worth $554,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Versant Capital Management Inc grew its position in shares of Macy's by 343.4% in the first quarter. Versant Capital Management Inc now owns 9,449 shares of the company's stock valued at $119,000 after purchasing an additional 7,318 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Macy's by 22.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 28,731 shares of the company's stock valued at $486,000 after purchasing an additional 5,332 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Macy's in the fourth quarter valued at about $2,591,000. Forum Financial Management LP acquired a new stake in shares of Macy's in the fourth quarter valued at about $177,000. Finally, Vise Technologies Inc. grew its position in shares of Macy's by 37.2% in the fourth quarter. Vise Technologies Inc. now owns 23,129 shares of the company's stock valued at $392,000 after purchasing an additional 6,266 shares during the period. Institutional investors and hedge funds own 87.36% of the company's stock.

Insider Activity

In other news, CEO Antony Spring sold 3,124 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total value of $42,923.76. Following the sale, the chief executive officer now directly owns 272,680 shares of the company's stock, valued at approximately $3,746,623.20. The trade was a 1.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tracy M. Preston sold 2,780 shares of the business's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $12.68, for a total transaction of $35,250.40. Following the completion of the sale, the executive vice president now directly owns 4,723 shares in the company, valued at $59,887.64. This trade represents a 37.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,751 shares of company stock valued at $537,790. Company insiders own 1.09% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on M. Citigroup restated a "neutral" rating and set a $12.00 price target (up from $11.00) on shares of Macy's in a research report on Thursday, May 29th. The Goldman Sachs Group lowered shares of Macy's from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $17.00 to $12.00 in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. lowered their price target on shares of Macy's from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, May 29th. Cowen restated a "hold" rating on shares of Macy's in a research report on Friday, March 7th. Finally, Barclays began coverage on shares of Macy's in a research report on Monday, April 28th. They set a "cautious" rating and a $12.00 price target on the stock. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $13.20.

Macy's Trading Down 0.3%

M stock traded down $0.04 during trading on Friday, reaching $11.04. 8,559,355 shares of the stock were exchanged, compared to its average volume of 6,593,676. The company has a current ratio of 1.43, a quick ratio of 0.37 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average price of $11.63 and a 200-day moving average price of $13.59. Macy's, Inc. has a 1 year low of $9.76 and a 1 year high of $20.47. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 5.60 and a beta of 1.74.

Macy's (NYSE:M - Get Free Report) last issued its earnings results on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.01. Macy's had a net margin of 2.45% and a return on equity of 16.34%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same period in the previous year, the firm earned $0.27 earnings per share. Macy's's quarterly revenue was down 5.1% compared to the same quarter last year. On average, research analysts predict that Macy's, Inc. will post 2.39 earnings per share for the current year.

Macy's Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.1824 dividend. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.61%. The ex-dividend date of this dividend is Friday, June 13th. Macy's's dividend payout ratio (DPR) is 37.06%.

About Macy's

Macy's, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm's brands include Macy's, Bloomingdale's, and Bluemercury. It offers men's, women's, and children's apparel, women's accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.