Voya Investment Management LLC Boosts Stock Position in Macy's, Inc. (NYSE:M)

Voya Investment Management LLC lifted its stake in Macy's, Inc. (NYSE:M - Free Report) by 13.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 308,961 shares of the company's stock after buying an additional 36,012 shares during the quarter. Voya Investment Management LLC owned approximately 0.11% of Macy's worth $5,231,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Trifecta Capital Advisors LLC purchased a new position in shares of Macy's in the fourth quarter valued at $34,000. Jones Financial Companies Lllp raised 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 buying an additional 969 shares in the last quarter. Kestra Investment Management LLC bought a new position in shares of Macy's in the 4th quarter valued at about $38,000. Bessemer Group Inc. grew its position in Macy's by 495.5% in the fourth quarter. Bessemer Group Inc. now owns 3,412 shares of the company's stock worth $58,000 after acquiring an additional 2,839 shares in the last quarter. Finally, Tompkins Financial Corp bought a new stake in Macy's during the fourth quarter worth approximately $102,000. Institutional investors own 87.36% of the company's stock.

Macy's Stock Down 0.3 %

Shares of Macy's stock traded down $0.04 during trading on Monday, reaching $11.92. The company's stock had a trading volume of 2,862,123 shares, compared to its average volume of 6,272,776. The company has a 50-day simple moving average of $12.43 and a two-hundred day simple moving average of $14.53. Macy's, Inc. has a 1-year low of $9.76 and a 1-year high of $20.70. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 20.21 and a beta of 1.77. 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 data 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 net margin of 0.73% and a return on equity of 21.99%. The firm had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. As a group, equities analysts forecast that Macy's, Inc. will post 2.39 earnings per share for the current year.

Macy's Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.1824 dividend. This represents a $0.73 annualized dividend and a dividend yield of 6.12%. This is a boost 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 (DPR) is presently 35.44%.

Insider Buying and Selling

In other news, EVP Tracy M. Preston sold 2,780 shares of the firm'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 transaction of $35,250.40. Following the sale, the executive vice president now owns 4,723 shares of the company's stock, valued at $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 is available through this link. Also, EVP Adrian V. Mitchell sold 5,122 shares of the business's stock in a transaction on Friday, March 28th. The shares were 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 of the company's stock, valued at approximately $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. Insiders sold 41,751 shares of company stock valued at $537,790 over the last quarter. 1.09% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their target price on Macy's from $14.00 to $13.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. StockNews.com upgraded shares of Macy's from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $15.00 price target on shares of Macy's in a research note on Wednesday, April 2nd. Cowen reaffirmed a "hold" rating on shares of Macy's in a research report on Friday, March 7th. Finally, Citigroup cut their price target on Macy's from $14.00 to $11.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $14.18.

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.