Nuveen Asset Management LLC Increases Stock Holdings in Macy's, Inc. (NYSE:M)

Nuveen Asset Management LLC raised its position in Macy's, Inc. (NYSE:M - Free Report) by 13.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 721,044 shares of the company's stock after buying an additional 87,315 shares during the quarter. Nuveen Asset Management LLC owned about 0.26% of Macy's worth $12,207,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. KBC Group NV raised its stake in shares of Macy's by 47.4% during the 4th quarter. KBC Group NV now owns 11,718 shares of the company's stock valued at $198,000 after purchasing an additional 3,766 shares during the period. Pacer Advisors Inc. raised its stake in shares of Macy's by 2.4% during the 4th quarter. Pacer Advisors Inc. now owns 41,345 shares of the company's stock valued at $700,000 after purchasing an additional 960 shares during the period. Parsons Capital Management Inc. RI purchased a new position in Macy's during the fourth quarter worth about $254,000. Lebenthal Global Advisors LLC grew its position in Macy's by 12.1% during the fourth quarter. Lebenthal Global Advisors LLC now owns 55,477 shares of the company's stock worth $939,000 after buying an additional 5,967 shares in the last quarter. Finally, Foster & Motley Inc. purchased a new position in Macy's during the fourth quarter worth about $277,000. 87.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on M. Benchmark upgraded Macy's to a "strong-buy" rating in a report on Monday, February 3rd. Morgan Stanley reiterated a "negative" rating on shares of Macy's in a report on Tuesday, May 6th. Barclays began coverage on Macy's in a report on Monday, April 28th. They issued a "cautious" rating and a $12.00 price objective for the company. UBS Group cut their price objective on Macy's from $9.00 to $8.00 and set a "sell" rating for the company in a report on Friday, March 7th. Finally, Telsey Advisory Group cut their price objective on Macy's from $15.00 to $14.00 and set a "market perform" rating for the company in a report on Thursday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Macy's has a consensus rating of "Hold" and a consensus price target of $13.20.

Macy's Trading Down 0.5%

Shares of M traded down $0.06 during mid-day trading on Friday, hitting $11.88. 8,401,442 shares of the company's stock traded hands, compared to its average volume of 6,451,257. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. 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 $3.31 billion, a P/E ratio of 20.14 and a beta of 1.77. The business's 50-day moving average price is $11.69 and its 200-day moving average price is $14.03.

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

Macy's Announces Dividend

The company also recently declared 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. The ex-dividend date is Friday, June 13th. This represents a $0.73 annualized dividend and a yield of 6.14%. Macy's's payout ratio is 35.44%.

Insider Transactions at Macy's

In other news, EVP Adrian V. Mitchell sold 5,122 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $12.77, for a total value of $65,407.94. Following the sale, the executive vice president now directly owns 130,491 shares of the company's stock, valued at approximately $1,666,370.07. This represents a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Tracy M. Preston sold 2,780 shares of the company'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 directly owns 4,723 shares in the company, valued at approximately $59,887.64. The trade was a 37.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,751 shares of company stock valued at $537,790. Insiders own 2.77% of the company's stock.

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.