Susquehanna Fundamental Investments LLC Takes $8.76 Million Position in Macy's, Inc. (NYSE:M)

Susquehanna Fundamental Investments LLC purchased a new position in Macy's, Inc. (NYSE:M - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 517,399 shares of the company's stock, valued at approximately $8,760,000. Susquehanna Fundamental Investments LLC owned about 0.19% of Macy's at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Macy's in the fourth quarter worth approximately $96,689,000. FMR LLC grew its position in Macy's by 59.9% in the 4th quarter. FMR LLC now owns 7,503,742 shares of the company's stock worth $127,038,000 after purchasing an additional 2,812,151 shares during the period. Marshall Wace LLP raised its stake in Macy's by 1,230.8% during the 4th quarter. Marshall Wace LLP now owns 2,387,193 shares of the company's stock valued at $40,415,000 after buying an additional 2,207,809 shares during the last quarter. Cooper Creek Partners Management LLC raised its stake in Macy's by 26.2% during the 4th quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company's stock valued at $132,701,000 after buying an additional 1,627,572 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Macy's by 7.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,751,211 shares of the company's stock valued at $266,666,000 after buying an additional 1,149,454 shares during the period. Institutional investors own 87.36% of the company's stock.

Insider Buying and Selling

In other news, EVP Tracy M. Preston sold 2,780 shares of the company's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $12.68, for a total value of $35,250.40. Following the completion of the sale, the executive vice president now owns 4,723 shares of the company's stock, valued at approximately $59,887.64. This represents a 37.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Adrian V. Mitchell sold 3,489 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $47,938.86. Following the completion of the transaction, the executive vice president now directly owns 116,165 shares of the company's stock, valued at $1,596,107.10. This trade represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 41,751 shares of company stock valued at $537,790. Insiders own 2.77% of the company's stock.

Analyst Ratings Changes

M has been the subject of a number of research reports. New Street Research set a $13.00 price objective on Macy's in a research report on Thursday, March 6th. Benchmark upgraded shares of Macy's to a "strong-buy" rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their target price on shares of Macy's from $14.00 to $13.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Gordon Haskett downgraded shares of Macy's from an "accumulate" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, UBS Group reduced 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. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Macy's has an average rating of "Hold" and an average price target of $14.18.

Macy's Trading Up 2.1 %

Shares of NYSE M traded up $0.24 during trading hours on Thursday, hitting $11.66. 7,040,940 shares of the company traded hands, compared to its average volume of 6,265,102. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 19.76 and a beta of 1.73. The company's 50 day moving average price is $12.54 and its 200 day moving average price is $14.60. Macy's, Inc. has a 12 month low of $9.76 and a 12 month high of $20.70. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67.

Macy's (NYSE:M - Get Free Report) last announced its earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.25. Macy's had a net margin of 0.73% and a return on equity of 21.99%. The business had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.76 billion. On average, equities research analysts anticipate that Macy's, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy's Increases Dividend

The firm also recently declared 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%. 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. Macy's's dividend payout ratio is presently 35.44%.

About Macy's

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.