Pinebridge Investments L.P. Increases Stock Holdings in Macy's, Inc. (NYSE:M)

Pinebridge Investments L.P. increased its stake in Macy's, Inc. (NYSE:M - Free Report) by 42.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,182 shares of the company's stock after purchasing an additional 31,167 shares during the quarter. Pinebridge Investments L.P.'s holdings in Macy's were worth $1,764,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in M. Trifecta Capital Advisors LLC bought a new stake in Macy's during the fourth quarter valued at approximately $34,000. Jones Financial Companies Lllp grew its position in shares of Macy's by 82.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock valued at $36,000 after acquiring an additional 969 shares during the period. Kestra Investment Management LLC purchased a new stake in shares of Macy's in the 4th quarter worth $38,000. Bessemer Group Inc. raised its holdings in Macy's by 495.5% in the 4th 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 period. Finally, Tompkins Financial Corp purchased a new stake in Macy's in the fourth quarter worth about $102,000. Institutional investors own 87.36% of the company's stock.

Macy's Trading Up 2.1 %

M traded up $0.24 on Thursday, hitting $11.66. The company had a trading volume of 7,040,940 shares, compared to its average volume of 6,265,102. The business's fifty day simple moving average is $12.54 and its 200 day simple moving average is $14.60. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. Macy's, Inc. has a 12-month low of $9.76 and a 12-month high of $20.70. The company has a market cap of $3.25 billion, a PE ratio of 19.76 and a beta of 1.73.

Macy's (NYSE:M - Get Free Report) last announced its earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.25. Macy's had a return on equity of 21.99% and a net margin of 0.73%. The firm had revenue of $7.77 billion during the quarter, compared to analysts' expectations of $7.76 billion. Equities research analysts expect that Macy's, Inc. will post 2.39 EPS for the current year.

Macy's Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.1824 dividend. This represents a $0.73 annualized dividend and a dividend yield of 6.26%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Macy's's previous quarterly dividend of $0.17. Macy's's dividend payout ratio (DPR) is 35.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on M shares. UBS Group dropped their price objective on Macy's from $9.00 to $8.00 and set a "sell" rating for the company in a research note on Friday, March 7th. Benchmark upgraded Macy's to a "strong-buy" rating in a research note on Monday, February 3rd. The Goldman Sachs Group cut shares of Macy's from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $17.00 to $12.00 in a research report on Tuesday, April 22nd. Gordon Haskett lowered shares of Macy's from an "accumulate" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, StockNews.com upgraded shares of Macy's from a "hold" rating to a "buy" rating in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Macy's currently has an average rating of "Hold" and an average target price of $14.18.

Insider Buying and Selling

In other news, CEO Antony Spring sold 20,868 shares of the business's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $12.68, for a total transaction of $264,606.24. Following the completion of the sale, the chief executive officer now directly owns 321,244 shares of the company's stock, valued at approximately $4,073,373.92. The trade was a 6.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Adrian V. Mitchell sold 5,122 shares of the company's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $12.77, for a total transaction of $65,407.94. Following the completion of the transaction, the executive vice president now owns 130,491 shares in the company, valued at $1,666,370.07. This represents a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,751 shares of company stock valued at $537,790. Company insiders own 2.77% of the company's stock.

Macy's Company Profile

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.