WBI Investments LLC Acquires Shares of 127,726 Macy's, Inc. (NYSE:M)

WBI Investments LLC bought a new stake in shares of Macy's, Inc. (NYSE:M - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 127,726 shares of the company's stock, valued at approximately $2,162,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Trifecta Capital Advisors LLC purchased a new stake in Macy's in the fourth quarter worth approximately $34,000. Jones Financial Companies Lllp boosted its holdings in Macy's by 82.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock worth $36,000 after purchasing an additional 969 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in Macy's in the fourth quarter worth approximately $38,000. Bessemer Group Inc. boosted its holdings in Macy's by 495.5% in the fourth quarter. Bessemer Group Inc. now owns 3,412 shares of the company's stock worth $58,000 after purchasing an additional 2,839 shares during the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in Macy's in the fourth quarter worth approximately $111,000. Institutional investors own 87.36% of the company's stock.

Insider Buying and Selling at Macy's

In other news, CEO Antony Spring sold 20,868 shares of the business's stock in a transaction dated Monday, March 31st. The shares were 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 in the company, valued at $4,073,373.92. The trade was a 6.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Adrian V. Mitchell sold 3,489 shares of the business's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $47,938.86. Following the completion of the sale, the executive vice president now owns 116,165 shares in the company, valued at approximately $1,596,107.10. This trade represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,751 shares of company stock worth $537,790. Insiders own 1.09% of the company's stock.

Macy's Price Performance

NYSE M traded down $0.34 on Friday, reaching $11.58. The company had a trading volume of 6,889,520 shares, compared to its average volume of 6,303,016. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $3.23 billion, a PE ratio of 19.63 and a beta of 1.77. The firm's 50 day moving average price is $11.86 and its 200 day moving average price is $14.17. Macy's, Inc. has a 12 month low of $9.76 and a 12 month high of $20.70.

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

Macy's Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $0.1824 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.73 dividend on an annualized basis and a yield of 6.30%. Macy's's dividend payout ratio is currently 35.44%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on M shares. Barclays started coverage on shares of Macy's in a research note on Monday, April 28th. They set a "cautious" rating and a $12.00 price target on the stock. UBS Group dropped their price target on shares of Macy's from $9.00 to $8.00 and set a "sell" rating on the stock in a research note on Friday, March 7th. JPMorgan Chase & Co. dropped their price target on shares of Macy's from $14.00 to $13.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. New Street Research set a $13.00 price target on shares of Macy's in a research note on Thursday, March 6th. Finally, Cowen reiterated a "hold" rating on shares of Macy's in a research note on Friday, March 7th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Macy's has an average rating of "Hold" and a consensus target price of $13.30.

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.