Lind Value II ApS Raises Holdings in Macy's, Inc. (NYSE:M)

Lind Value II ApS raised its stake in Macy's, Inc. (NYSE:M - Free Report) by 169.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,071,558 shares of the company's stock after purchasing an additional 673,891 shares during the period. Macy's accounts for approximately 6.0% of Lind Value II ApS's investment portfolio, making the stock its 5th biggest position. Lind Value II ApS owned approximately 0.38% of Macy's worth $13,459,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Trifecta Capital Advisors LLC bought a new stake in Macy's during the fourth quarter worth about $34,000. Jones Financial Companies Lllp lifted its position in Macy's by 82.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock worth $36,000 after purchasing an additional 969 shares during the period. Kestra Investment Management LLC bought a new stake in Macy's during the fourth quarter worth about $38,000. Bessemer Group Inc. lifted its position in Macy's by 495.5% during the fourth quarter. Bessemer Group Inc. now owns 3,412 shares of the company's stock worth $58,000 after purchasing an additional 2,839 shares during the period. Finally, Raiffeisen Bank International AG bought a new stake in Macy's during the fourth quarter worth about $111,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

M has been the subject of a number of research reports. New Street Research set a $13.00 target price on shares of Macy's in a report on Thursday, March 6th. Wall Street Zen raised shares of Macy's from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Benchmark raised shares of Macy's to a "strong-buy" rating in a report on Monday, February 3rd. Citigroup reissued a "neutral" rating and issued a $12.00 target price (up previously from $11.00) on shares of Macy's in a report on Thursday. Finally, Barclays initiated coverage on shares of Macy's in a report on Monday, April 28th. They issued a "cautious" rating and a $12.00 target price for the company. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Macy's has an average rating of "Hold" and an average price target of $13.20.

Insider Buying and Selling at Macy's

In other Macy's news, EVP Adrian V. Mitchell sold 5,122 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $12.77, for a total transaction of $65,407.94. Following the completion of the sale, the executive vice president now owns 130,491 shares of the company's stock, valued at approximately $1,666,370.07. This represents a 3.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Tracy M. Preston sold 2,780 shares of the 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 sale, the executive vice president now directly owns 4,723 shares of the company's stock, valued at $59,887.64. This represents a 37.05% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,751 shares of company stock valued at $537,790. 1.09% of the stock is currently owned by company insiders.

Macy's Trading Down 0.5%

NYSE M traded down $0.06 during trading hours on Friday, reaching $11.88. The company's stock had a trading volume of 8,401,442 shares, compared to its average volume of 6,451,257. The firm has a fifty day simple moving average of $11.69 and a 200-day simple moving average of $14.03. The stock has a market cap of $3.31 billion, a P/E ratio of 20.14 and a beta of 1.77. Macy's, Inc. has a 52 week low of $9.76 and a 52 week high of $20.47. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17.

Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.01. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.38 billion. Macy's had a net margin of 0.73% and a return on equity of 21.99%. The firm's quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the business earned $0.27 EPS. Equities analysts forecast that Macy's, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy's Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a yield of 6.14%. The ex-dividend date is Friday, June 13th. Macy's's dividend payout ratio is presently 37.06%.

Macy's Profile

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.