Fund 1 Investments LLC Purchases Shares of 378,099 Macy's, Inc. (NYSE:M)

Fund 1 Investments LLC purchased a new stake in Macy's, Inc. (NYSE:M - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 378,099 shares of the company's stock, valued at approximately $6,401,000. Fund 1 Investments LLC owned 0.14% of Macy's at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Macy's by 7.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,751,211 shares of the company's stock valued at $266,666,000 after purchasing an additional 1,149,454 shares during the period. Cooper Creek Partners Management LLC raised its holdings 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. FMR LLC raised its holdings in Macy's by 59.9% in the 4th quarter. FMR LLC now owns 7,503,742 shares of the company's stock valued at $127,038,000 after acquiring an additional 2,812,151 shares in the last quarter. American Century Companies Inc. raised its holdings in Macy's by 12.2% in the 4th quarter. American Century Companies Inc. now owns 7,137,132 shares of the company's stock valued at $120,832,000 after acquiring an additional 774,693 shares in the last quarter. Finally, Norges Bank acquired a new position in Macy's in the 4th quarter valued at $96,689,000. 87.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Macy's news, EVP Adrian V. Mitchell sold 3,489 shares of the company's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total value of $47,938.86. Following the sale, the executive vice president now owns 116,165 shares in the company, valued at approximately $1,596,107.10. The trade was a 2.92% decrease in their position. The transaction was disclosed in a 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 dated Monday, March 31st. The shares were sold at an average price of $12.68, for a total value of $35,250.40. Following the completion of the sale, the executive vice president now owns 4,723 shares in the company, valued at $59,887.64. This trade represents a 37.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,751 shares of company stock worth $537,790 in the last 90 days. Insiders own 2.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on M shares. The Goldman Sachs Group cut Macy's from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $17.00 to $12.00 in a report on Tuesday, April 22nd. Morgan Stanley reaffirmed a "negative" rating on shares of Macy's in a report on Tuesday, May 6th. StockNews.com raised Macy's from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Cowen reaffirmed a "hold" rating on shares of Macy's in a report on Friday, March 7th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $15.00 price objective on shares of Macy's in a report on Wednesday, April 2nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Macy's has a consensus rating of "Hold" and a consensus price target of $14.00.

Macy's Price Performance

Shares of Macy's stock traded down $0.13 during trading on Friday, reaching $11.66. 2,764,802 shares of the company's stock were exchanged, compared to its average volume of 6,315,005. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. Macy's, Inc. has a 1-year low of $9.76 and a 1-year high of $20.70. The company has a market cap of $3.25 billion, a P/E ratio of 19.76 and a beta of 1.77. The firm's 50-day moving average price is $12.19 and its 200 day moving average price is $14.39.

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

Macy's Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.1824 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.73 dividend on an annualized basis and a yield of 6.26%. This is a positive change from Macy's's previous quarterly dividend of $0.17. Macy's's payout ratio is currently 35.44%.

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.