Invenomic Capital Management LP Grows Stock Position in Macy's, Inc. (NYSE:M)

Invenomic Capital Management LP lifted its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 13.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 900,040 shares of the company's stock after acquiring an additional 104,353 shares during the period. Invenomic Capital Management LP owned approximately 0.32% of Macy's worth $15,238,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. HB Wealth Management LLC grew its stake in Macy's by 724.1% during the 4th quarter. HB Wealth Management LLC now owns 103,584 shares of the company's stock valued at $1,754,000 after purchasing an additional 91,015 shares during the last quarter. SG Americas Securities LLC increased its holdings 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. State of Alaska Department of Revenue raised its position in Macy's by 155.8% during the 4th quarter. State of Alaska Department of Revenue now owns 81,626 shares of the company's stock worth $1,381,000 after buying an additional 49,715 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Macy's by 14.5% in the 4th quarter. Bank of New York Mellon Corp now owns 3,314,572 shares of the company's stock valued at $56,116,000 after acquiring an additional 419,261 shares during the last quarter. Finally, KBC Group NV grew its position in Macy's by 47.4% during the 4th quarter. KBC Group NV now owns 11,718 shares of the company's stock worth $198,000 after purchasing an additional 3,766 shares during the period. Institutional investors and hedge funds own 87.36% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Telsey Advisory Group reaffirmed a "market perform" rating and set a $15.00 target price on shares of Macy's in a research note on Wednesday, April 2nd. Cowen reaffirmed a "hold" rating on shares of Macy's in a report on Friday, March 7th. JPMorgan Chase & Co. cut their target price on shares of Macy's from $14.00 to $13.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Gordon Haskett downgraded shares of Macy's from an "accumulate" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, Benchmark upgraded Macy's to a "strong-buy" rating in a report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $14.00.

Insider Buying and Selling at Macy's

In other Macy's news, CEO Antony Spring sold 3,124 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total transaction of $42,923.76. Following the sale, the chief executive officer now directly owns 272,680 shares in the company, valued at $3,746,623.20. This represents a 1.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Adrian V. Mitchell sold 3,489 shares of the 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 sale, the executive vice president now directly owns 116,165 shares in the company, valued at $1,596,107.10. This represents a 2.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,751 shares of company stock valued at $537,790 over the last 90 days. 1.09% of the stock is owned by insiders.

Macy's Trading Down 2.7%

Macy's stock traded down $0.33 during midday trading on Wednesday, hitting $12.09. 5,428,593 shares of the stock were exchanged, compared to its average volume of 6,340,902. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The stock's 50-day simple moving average is $12.11 and its 200 day simple moving average is $14.34. 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 $3.37 billion, a price-to-earnings ratio of 20.49 and a beta of 1.77.

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, topping analysts' consensus estimates of $1.55 by $0.25. The business had revenue of $7.77 billion during 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%. On average, equities analysts anticipate that Macy's, Inc. will post 2.39 EPS for the current year.

Macy's Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.1824 dividend. This is a positive change from Macy's's previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a yield of 6.03%. The ex-dividend date was Friday, March 14th. Macy's's payout ratio is 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.