Quinn Opportunity Partners LLC Boosts Holdings in Macy's, Inc. (NYSE:M)

Quinn Opportunity Partners LLC raised its position in shares of Macy's, Inc. (NYSE:M - Free Report) by 165.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 330,470 shares of the company's stock after acquiring an additional 206,110 shares during the quarter. Quinn Opportunity Partners LLC owned about 0.12% of Macy's worth $5,595,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Trifecta Capital Advisors LLC acquired a new stake in Macy's in the fourth quarter worth $34,000. Jones Financial Companies Lllp raised its holdings in shares of Macy's by 82.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock worth $36,000 after acquiring an additional 969 shares during the last quarter. Kestra Investment Management LLC bought a new position in Macy's in the 4th quarter valued at about $38,000. Bessemer Group Inc. increased its holdings in Macy's by 495.5% during 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 in the last quarter. Finally, Tompkins Financial Corp purchased a new stake in shares of Macy's in the fourth quarter worth approximately $102,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Macy's

In related news, EVP Tracy M. Preston sold 2,780 shares of Macy's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $12.68, for a total transaction of $35,250.40. Following the sale, the executive vice president now owns 4,723 shares of the company's stock, valued at approximately $59,887.64. This trade represents a 37.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Antony Spring sold 3,124 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total transaction of $42,923.76. Following the completion of the transaction, the chief executive officer now directly owns 272,680 shares of the company's stock, valued at approximately $3,746,623.20. This trade represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,751 shares of company stock valued at $537,790. 2.77% of the stock is currently owned by company insiders.

Macy's Trading Down 1.2 %

M traded down $0.14 during trading on Wednesday, hitting $11.06. 2,231,978 shares of the stock traded hands, compared to its average volume of 7,355,609. The firm has a 50-day moving average of $13.40 and a 200 day moving average of $14.93. Macy's, Inc. has a 12-month low of $9.76 and a 12-month high of $20.70. The firm has a market capitalization of $3.08 billion, a P/E ratio of 18.75 and a beta of 1.73. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17.

Macy's (NYSE:M - Get Free Report) last announced its quarterly 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 company had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. Equities research analysts anticipate that Macy's, Inc. will post 2.39 EPS for the current year.

Macy's Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.1824 dividend. This is an increase from Macy's's previous quarterly dividend of $0.17. 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 6.60%. Macy's's dividend payout ratio is 35.44%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Benchmark upgraded Macy's to a "strong-buy" rating in a research note on Monday, February 3rd. Morgan Stanley set a $14.00 target price on shares of Macy's in a research report on Monday, March 10th. JPMorgan Chase & Co. lowered their target price on shares of Macy's from $14.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday. New Street Research set a $13.00 price target on Macy's in a research report on Thursday, March 6th. Finally, Gordon Haskett cut Macy's from an "accumulate" rating to a "hold" rating in a report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $15.20.

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.