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

Lind Value II ApS raised its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 169.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,071,558 shares of the company's stock after buying an additional 673,891 shares during the period. Macy's comprises 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.

A number of other large investors have also recently added to or reduced their stakes in M. Norges Bank purchased a new stake in shares of Macy's in the 4th quarter valued at approximately $96,689,000. Junto Capital Management LP purchased a new stake in shares of Macy's in the 4th quarter valued at approximately $48,775,000. FMR LLC lifted its position in shares of Macy's by 59.9% in the 4th quarter. FMR LLC now owns 7,503,742 shares of the company's stock valued at $127,038,000 after acquiring an additional 2,812,151 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Macy's by 1,230.8% in the 4th quarter. Marshall Wace LLP now owns 2,387,193 shares of the company's stock valued at $40,415,000 after acquiring an additional 2,207,809 shares in the last quarter. Finally, Cooper Creek Partners Management LLC lifted its position in shares of Macy's by 26.2% in the 4th quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company's stock valued at $132,701,000 after acquiring an additional 1,627,572 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Tracy M. Preston sold 2,780 shares of Macy's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $12.68, for a total value of $35,250.40. Following the transaction, the executive vice president now owns 4,723 shares in the company, valued at $59,887.64. This trade represents a 37.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Antony Spring sold 20,868 shares of Macy's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $12.68, for a total transaction of $264,606.24. Following the completion of the transaction, the chief executive officer now owns 321,244 shares in the company, valued at $4,073,373.92. This trade represents a 6.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,751 shares of company stock worth $537,790 in the last quarter. 1.09% of the stock is currently owned by company insiders.

Macy's Stock Up 2.0%

Shares of M stock traded up $0.23 on Tuesday, hitting $11.55. The company's stock had a trading volume of 2,937,465 shares, compared to its average volume of 7,172,869. 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, Inc. has a fifty-two week low of $9.76 and a fifty-two week high of $20.47. The firm's fifty day moving average price is $11.65 and its 200-day moving average price is $13.99. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 19.58 and a beta of 1.77.

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

Macy's Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.1824 dividend. This represents a $0.73 annualized dividend and a dividend yield of 6.32%. The ex-dividend date of this dividend is Friday, June 13th. Macy's's payout ratio is presently 37.06%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on M shares. Citigroup restated a "neutral" rating and issued a $12.00 price target (up previously from $11.00) on shares of Macy's in a research report on Thursday, May 29th. New Street Research set a $13.00 price target on shares of Macy's in a research report on Thursday, March 6th. Telsey Advisory Group reduced their price target on shares of Macy's from $15.00 to $14.00 and set a "market perform" rating for the company in a research report on Thursday, May 29th. The Goldman Sachs Group downgraded shares of Macy's from a "buy" rating to a "neutral" rating and cut their target price for the stock from $17.00 to $12.00 in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Macy's from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, May 29th. 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 data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $13.20.

Macy's Company 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.