MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stake in Macy's, Inc. (NYSE:M)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Macy's, Inc. (NYSE:M - Free Report) by 29.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 117,840 shares of the company's stock after acquiring an additional 27,156 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Macy's were worth $1,995,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in M. SG Americas Securities LLC increased its stake in Macy's by 1,076.9% in the 4th quarter. SG Americas Securities LLC now owns 178,778 shares of the company's stock worth $3,027,000 after buying an additional 163,587 shares during the period. Impact Partnership Wealth LLC increased its stake in Macy's by 7.9% in the 4th quarter. Impact Partnership Wealth LLC now owns 16,871 shares of the company's stock worth $286,000 after buying an additional 1,229 shares during the period. KBC Group NV increased its stake in Macy's by 47.4% in the 4th quarter. KBC Group NV now owns 11,718 shares of the company's stock worth $198,000 after buying an additional 3,766 shares during the period. Pacer Advisors Inc. increased its stake in Macy's by 2.4% in the 4th quarter. Pacer Advisors Inc. now owns 41,345 shares of the company's stock worth $700,000 after buying an additional 960 shares during the period. Finally, Parsons Capital Management Inc. RI purchased a new position in Macy's in the 4th quarter worth about $254,000. Hedge funds and other institutional investors own 87.36% of the company's stock.

Macy's Stock Up 2.5%

NYSE:M opened at $11.91 on Friday. Macy's, Inc. has a fifty-two week low of $9.76 and a fifty-two week high of $20.70. The stock has a market capitalization of $3.32 billion, a P/E ratio of 20.19 and a beta of 1.77. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The company's 50-day simple moving average is $11.90 and its 200-day simple moving average is $14.20.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates of $1.55 by $0.25. Macy's had a net margin of 0.73% and a return on equity of 21.99%. The business had revenue of $7.77 billion for the quarter, compared to analysts' expectations of $7.76 billion. On average, equities analysts anticipate that Macy's, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy's Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 6.13%. The ex-dividend date is Friday, June 13th. Macy's's dividend payout ratio (DPR) is presently 35.44%.

Insider Buying and Selling

In other Macy's news, CEO Antony Spring sold 3,124 shares of Macy'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 transaction of $42,923.76. Following the completion of the sale, the chief executive officer now directly owns 272,680 shares in the company, valued at approximately $3,746,623.20. The trade was a 1.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Adrian V. Mitchell sold 5,122 shares of Macy's 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 sale, the executive vice president now owns 130,491 shares of the company's stock, valued at approximately $1,666,370.07. The trade was a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,751 shares of company stock worth $537,790 in the last three months. Corporate insiders own 1.09% of the company's stock.

Wall Street Analyst Weigh In

M has been the topic of several recent analyst reports. Morgan Stanley reaffirmed a "negative" rating on shares of Macy's in a research note on Tuesday, May 6th. Citigroup cut their target price on shares of Macy's from $14.00 to $11.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. JPMorgan Chase & Co. cut their target price on shares of Macy's from $14.00 to $13.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Cowen reissued a "hold" rating on shares of Macy's in a research report on Friday, March 7th. Finally, Gordon Haskett downgraded shares of Macy's from an "accumulate" rating to a "hold" rating in a research report on Thursday, March 6th. Two equities 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $13.30.

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.

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