36,856 Shares in Macy's, Inc. (NYSE:M) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in shares of Macy's, Inc. (NYSE:M - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 36,856 shares of the company's stock, valued at approximately $624,000.

A number of other institutional investors have also recently added to or reduced their stakes in M. Wilmington Savings Fund Society FSB bought a new stake in Macy's during the third quarter worth approximately $221,000. Nordea Investment Management AB boosted its stake in shares of Macy's by 4.0% during the 4th quarter. Nordea Investment Management AB now owns 273,872 shares of the company's stock worth $4,671,000 after acquiring an additional 10,541 shares in the last quarter. Range Financial Group LLC acquired a new stake in shares of Macy's during the fourth quarter worth $285,000. Wedmont Private Capital lifted its holdings in shares of Macy's by 17.2% during the fourth quarter. Wedmont Private Capital now owns 22,141 shares of the company's stock valued at $351,000 after purchasing an additional 3,254 shares during the last quarter. Finally, FNY Investment Advisers LLC boosted its position in shares of Macy's by 65.5% in the 4th quarter. FNY Investment Advisers LLC now owns 7,500 shares of the company's stock valued at $126,000 after purchasing an additional 2,967 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy's Stock Down 1.1 %

Shares of NYSE:M traded down $0.13 on Friday, reaching $11.66. The company had a trading volume of 2,764,802 shares, compared to its average volume of 6,298,263. The stock has a market capitalization of $3.25 billion, a P/E ratio of 19.76 and a beta of 1.77. The stock has a 50-day moving average price of $12.19 and a 200 day moving average price of $14.40. Macy's, Inc. has a twelve month low of $9.76 and a twelve month high of $20.70. 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 (NYSE:M - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $7.76 billion. On average, equities analysts expect that Macy's, Inc. will post 2.39 EPS for the current year.

Macy's Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.1824 per share. 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 boost from Macy's's previous quarterly dividend of $0.17. Macy's's payout ratio is currently 35.44%.

Analyst Upgrades and Downgrades

M has been the subject of several recent analyst reports. Citigroup decreased their target price on shares of Macy's from $14.00 to $11.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Morgan Stanley reissued a "negative" rating on shares of Macy's in a research note on Tuesday. Barclays initiated coverage on Macy's in a research report on Monday, April 28th. They issued a "cautious" rating and a $12.00 target price for the company. Benchmark upgraded Macy's to a "strong-buy" rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. reduced their price objective on Macy's from $14.00 to $13.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $14.00.

Insider Buying and Selling at Macy's

In related news, CEO Antony Spring sold 20,868 shares of the company's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $12.68, for a total value of $264,606.24. Following the sale, the chief executive officer now owns 321,244 shares of the company's stock, valued at $4,073,373.92. The trade was a 6.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Adrian V. Mitchell sold 5,122 shares of the firm'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 transaction, the executive vice president now owns 130,491 shares of the company's stock, valued at approximately $1,666,370.07. This represents a 3.78 % 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 in the last 90 days. 2.77% of the stock is currently owned by insiders.

Macy's 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.