National Bank of Canada FI Purchases 253,999 Shares of Macy's, Inc. (NYSE:M)

National Bank of Canada FI increased its holdings in Macy's, Inc. (NYSE:M - Free Report) by 15.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,932,706 shares of the company's stock after acquiring an additional 253,999 shares during the quarter. National Bank of Canada FI owned approximately 0.71% of Macy's worth $38,190,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC increased its holdings in Macy's by 2,964.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 332,488 shares of the company's stock valued at $6,690,000 after buying an additional 321,638 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in Macy's by 1,166.8% in the fourth quarter. Hexagon Capital Partners LLC now owns 2,749 shares of the company's stock valued at $55,000 after buying an additional 2,532 shares during the last quarter. Islay Capital Management LLC bought a new stake in Macy's in the fourth quarter valued at about $1,301,000. SummerHaven Investment Management LLC increased its holdings in Macy's by 1.3% in the fourth quarter. SummerHaven Investment Management LLC now owns 43,046 shares of the company's stock valued at $866,000 after buying an additional 554 shares during the last quarter. Finally, Retirement Systems of Alabama increased its holdings in Macy's by 0.5% in the fourth quarter. Retirement Systems of Alabama now owns 498,612 shares of the company's stock valued at $10,032,000 after buying an additional 2,428 shares during the last quarter. 87.36% of the stock is owned by institutional investors.

Macy's Stock Up 0.3 %

Shares of M traded up $0.05 during mid-day trading on Monday, reaching $19.58. The company's stock had a trading volume of 3,901,692 shares, compared to its average volume of 7,554,657. The business has a fifty day moving average of $19.57 and a 200 day moving average of $17.84. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 52.76 and a beta of 2.16. Macy's, Inc. has a 1 year low of $10.54 and a 1 year high of $22.10. The company has a quick ratio of 0.39, a current ratio of 1.37 and a debt-to-equity ratio of 0.72.

Macy's (NYSE:M - Get Free Report) last released its earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.47. Macy's had a return on equity of 23.34% and a net margin of 0.45%. The company had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.07 billion. During the same quarter in the prior year, the company earned $1.88 earnings per share. The company's revenue for the quarter was down 1.7% on a year-over-year basis. As a group, analysts forecast that Macy's, Inc. will post 2.57 earnings per share for the current fiscal year.

Macy's Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.1737 dividend. The ex-dividend date was Thursday, March 14th. This is an increase from Macy's's previous quarterly dividend of $0.17. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.55%. Macy's's dividend payout ratio is 186.49%.

Insider Transactions at Macy's

In other Macy's news, CEO Antony Spring sold 14,859 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $19.63, for a total transaction of $291,682.17. Following the transaction, the chief executive officer now directly owns 248,897 shares of the company's stock, valued at $4,885,848.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Macy's news, CEO Antony Spring sold 14,859 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $19.63, for a total transaction of $291,682.17. Following the transaction, the chief executive officer now directly owns 248,897 shares of the company's stock, valued at $4,885,848.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey Gennette sold 78,567 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $1,604,338.14. Following the transaction, the director now directly owns 994,301 shares in the company, valued at $20,303,626.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 218,424 shares of company stock valued at $4,405,507. 2.77% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on M. Morgan Stanley lowered their target price on Macy's from $21.00 to $20.00 and set an "equal weight" rating for the company in a report on Wednesday, February 28th. StockNews.com initiated coverage on Macy's in a report on Thursday. They issued a "hold" rating for the company. Telsey Advisory Group reissued a "market perform" rating and issued a $21.00 price objective on shares of Macy's in a report on Thursday, March 28th. JPMorgan Chase & Co. increased their price objective on Macy's from $23.00 to $25.00 and gave the stock an "overweight" rating in a report on Monday, March 18th. Finally, Citigroup raised Macy's from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $14.00 to $18.00 in a report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Macy's currently has a consensus rating of "Hold" and an average price target of $17.45.

Macy's Company Profile

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.