Macy's, Inc. (NYSE:M) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its stake in Macy's, Inc. (NYSE:M - Free Report) by 126.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 184,511 shares of the company's stock after buying an additional 102,885 shares during the quarter. State of Alaska Department of Revenue owned about 0.07% of Macy's worth $2,317,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of M. Norges Bank purchased a new position in shares of Macy's during the fourth quarter worth $96,689,000. Junto Capital Management LP acquired a new position in Macy's during the 4th quarter worth about $48,775,000. FMR LLC lifted its stake in Macy's by 59.9% during the 4th quarter. FMR LLC now owns 7,503,742 shares of the company's stock worth $127,038,000 after acquiring an additional 2,812,151 shares in the last quarter. Marshall Wace LLP boosted its holdings in Macy's by 1,230.8% during 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 during the period. Finally, Cooper Creek Partners Management LLC grew its position in 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. Institutional investors and hedge funds own 87.36% of the company's stock.

Insiders Place Their Bets

In other news, EVP Adrian V. Mitchell sold 5,122 shares of the business's stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Antony Spring sold 20,868 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $12.68, for a total value of $264,606.24. Following the sale, the chief executive officer now directly owns 321,244 shares of the company's stock, valued at approximately $4,073,373.92. This represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,738 shares of company stock valued at $441,432. 1.09% of the stock is currently owned by insiders.

Macy's Stock Up 1.2%

M stock traded up $0.14 during trading on Thursday, hitting $11.16. 5,624,020 shares of the company's stock were exchanged, compared to its average volume of 6,649,828. The business has a 50-day moving average price of $11.61 and a two-hundred day moving average price of $13.46. 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 stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 5.66 and a beta of 1.74. Macy's, Inc. has a 52-week low of $9.76 and a 52-week high of $20.47.

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 for the quarter, topping the consensus estimate of $0.15 by $0.01. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.38 billion. Macy's had a net margin of 2.45% and a return on equity of 16.34%. The company's revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 EPS. As a group, equities research analysts expect that Macy's, Inc. will post 2.39 EPS for the current year.

Macy's Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.1824 per share. This represents a $0.73 annualized dividend and a dividend yield of 6.54%. The ex-dividend date is Friday, June 13th. Macy's's payout ratio is 37.06%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on M shares. 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. Citigroup reiterated a "neutral" rating and set a $12.00 target price (up from $11.00) on shares of Macy's in a report on Thursday, May 29th. Telsey Advisory Group decreased 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. Morgan Stanley restated a "negative" rating on shares of Macy's in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group lowered Macy's from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $17.00 to $12.00 in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average 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.