State of Alaska Department of Revenue Buys 102,885 Shares of Macy's, Inc. (NYSE:M)

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in Macy's during the 4th quarter worth approximately $96,689,000. Junto Capital Management LP bought a new stake in shares of Macy's in the fourth quarter worth $48,775,000. FMR LLC grew its stake in shares of Macy's by 59.9% in the fourth quarter. FMR LLC now owns 7,503,742 shares of the company's stock worth $127,038,000 after purchasing an additional 2,812,151 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Macy's by 1,230.8% in the fourth quarter. Marshall Wace LLP now owns 2,387,193 shares of the company's stock worth $40,415,000 after purchasing an additional 2,207,809 shares during the last quarter. Finally, Cooper Creek Partners Management LLC grew its stake in shares of Macy's by 26.2% in the fourth quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company's stock worth $132,701,000 after purchasing an additional 1,627,572 shares during the last quarter. Institutional investors own 87.36% of the company's stock.

Analyst Ratings Changes

M has been the topic of a number of analyst reports. Cowen reiterated a "hold" rating on shares of Macy's in a research report on Friday, March 7th. New Street Research set a $13.00 target price on Macy's in a report on Thursday, March 6th. Citigroup reiterated a "neutral" rating and issued a $12.00 target price (up from $11.00) on shares of Macy's in a report on Thursday, May 29th. Morgan Stanley reaffirmed a "negative" rating on shares of Macy's in a research note on Tuesday, May 6th. Finally, Barclays assumed coverage on shares of Macy's in a research note on Monday, April 28th. They issued a "cautious" rating and a $12.00 price objective on the stock. Two analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $13.20.

Macy's Stock Performance

Shares of M opened at $11.04 on Monday. The firm has a market cap of $3.00 billion, a PE ratio of 5.60 and a beta of 1.74. The stock's fifty day moving average price is $11.63 and its two-hundred day moving average price is $13.57. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.43 and a quick ratio of 0.37. Macy's, Inc. has a 1 year low of $9.76 and a 1 year high of $20.47.

Macy's (NYSE:M - Get Free Report) last posted its quarterly earnings results 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 2.45% and a return on equity of 16.34%. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.38 billion. During the same quarter in the previous year, the firm posted $0.27 earnings per share. The company's quarterly revenue was down 5.1% compared to the same quarter last year. On average, equities research analysts forecast that Macy's, Inc. will post 2.39 EPS for the current year.

Macy's Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.1824 per share. This represents a $0.73 annualized dividend and a dividend yield of 6.61%. The ex-dividend date of this dividend is Friday, June 13th. Macy's's dividend payout ratio is presently 37.06%.

Insider Activity

In other news, EVP Adrian V. Mitchell sold 3,489 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total value of $47,938.86. Following the transaction, the executive vice president now owns 116,165 shares of the company's stock, valued at $1,596,107.10. This represents a 2.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Tracy M. Preston sold 2,780 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 4,723 shares in the company, valued at approximately $59,887.64. This represents a 37.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,751 shares of company stock worth $537,790 over the last ninety days. Company insiders own 2.77% of the company's stock.

About Macy's

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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