Los Angeles Capital Management LLC Purchases 321,638 Shares of Macy's, Inc. (NYSE:M)

Los Angeles Capital Management LLC raised its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 2,964.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 332,488 shares of the company's stock after purchasing an additional 321,638 shares during the period. Los Angeles Capital Management LLC owned 0.12% of Macy's worth $6,690,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Lindbrook Capital LLC grew its stake in Macy's by 253.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,317 shares of the company's stock valued at $26,000 after purchasing an additional 944 shares during the last quarter. Fifth Third Bancorp raised its position in Macy's by 221.4% during the 3rd quarter. Fifth Third Bancorp now owns 3,506 shares of the company's stock worth $41,000 after buying an additional 2,415 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in Macy's during the 4th quarter valued at approximately $50,000. Covestor Ltd boosted its holdings in shares of Macy's by 25.5% in the 3rd quarter. Covestor Ltd now owns 4,763 shares of the company's stock valued at $55,000 after acquiring an additional 969 shares during the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in shares of Macy's by 1,166.8% in the fourth quarter. Hexagon Capital Partners LLC now owns 2,749 shares of the company's stock worth $55,000 after acquiring an additional 2,532 shares during the period. Institutional investors and hedge funds own 87.36% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on M. Morgan Stanley cut their price objective on shares of Macy's from $21.00 to $20.00 and set an "equal weight" rating for the company in a report on Wednesday, February 28th. TD Cowen lowered Macy's from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $23.00 to $20.00 in a research report on Thursday, February 29th. The Goldman Sachs Group boosted their price target on shares of Macy's from $16.00 to $22.00 and gave the stock a "buy" rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. lifted their target price on shares of Macy's from $23.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, March 18th. Finally, StockNews.com initiated coverage on shares of Macy's in a research note on Thursday. They issued a "hold" rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $17.45.

Insider Buying and Selling at Macy's

In other Macy's news, SVP Paul Griscom sold 2,969 shares of Macy's stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $20.43, for a total value of $60,656.67. Following the transaction, the senior vice president now directly owns 21,436 shares in the company, valued at approximately $437,937.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Adrian V. Mitchell sold 13,249 shares of Macy's stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total value of $270,544.58. Following the sale, the chief financial officer now directly owns 99,098 shares in the company, valued at $2,023,581.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Paul Griscom sold 2,969 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.43, for a total value of $60,656.67. Following the completion of the transaction, the senior vice president now owns 21,436 shares of the company's stock, valued at approximately $437,937.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 218,424 shares of company stock worth $4,405,507. 1.52% of the stock is owned by company insiders.

Macy's Stock Up 2.1 %

Shares of M stock traded up $0.40 during trading hours on Friday, reaching $19.52. 4,302,393 shares of the stock were exchanged, compared to its average volume of 5,097,625. Macy's, Inc. has a 12-month low of $10.54 and a 12-month high of $22.10. The business's fifty day moving average is $19.57 and its two-hundred day moving average is $17.79. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.39. The firm has a market capitalization of $5.37 billion, a P/E ratio of 52.76 and a beta of 2.16.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.47. The business had revenue of $8.12 billion during the quarter, compared to analysts' expectations of $8.07 billion. Macy's had a return on equity of 23.34% and a net margin of 0.45%. The business's quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.88 EPS. As a group, research analysts expect that Macy's, Inc. will post 2.57 EPS for the current fiscal year.

Macy's Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.1737 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.69 dividend on an annualized basis and a yield of 3.56%. This is a boost from Macy's's previous quarterly dividend of $0.17. Macy's's dividend payout ratio is currently 186.49%.

About Macy's

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.