ExodusPoint Capital Management LP Boosts Stake in Macy’s, Inc. (NYSE:M)

ExodusPoint Capital Management LP lifted its holdings in shares of Macy’s, Inc. (NYSE:M) by 229.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 401,141 shares of the company’s stock after acquiring an additional 279,394 shares during the quarter. ExodusPoint Capital Management LP owned 0.14% of Macy’s worth $6,791,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of M. Virtu Financial LLC bought a new position in Macy’s during the 3rd quarter valued at $594,000. HB Wealth Management LLC grew its stake in Macy’s by 724.1% in the fourth quarter. HB Wealth Management LLC now owns 103,584 shares of the company’s stock worth $1,754,000 after purchasing an additional 91,015 shares in the last quarter. Retirement Systems of Alabama increased its holdings in Macy’s by 57.9% in the third quarter. Retirement Systems of Alabama now owns 782,391 shares of the company’s stock valued at $12,276,000 after buying an additional 286,879 shares during the last quarter. SG Americas Securities LLC raised its stake in Macy’s by 1,076.9% during the fourth quarter. SG Americas Securities LLC now owns 178,778 shares of the company’s stock valued at $3,027,000 after buying an additional 163,587 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in Macy’s by 155.8% during the 4th quarter. State of Alaska Department of Revenue now owns 81,626 shares of the company’s stock worth $1,381,000 after buying an additional 49,715 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on M. UBS Group dropped their price target on Macy’s from $9.00 to $8.00 and set a “sell” rating on the stock in a research report on Friday, March 7th. The Goldman Sachs Group dropped their target price on shares of Macy’s from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Benchmark raised shares of Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. Citigroup dropped their price objective on shares of Macy’s from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Finally, Gordon Haskett cut shares of 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 given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.30.

Insiders Place Their Bets

In other news, EVP Tracy M. Preston sold 2,780 shares of Macy’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 transaction, the executive vice president now owns 4,723 shares of the company’s stock, valued at $59,887.64. The trade was a 37.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Adrian V. Mitchell sold 5,122 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly 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 worth $537,790 over the last ninety days. Company insiders own 2.77% of the company’s stock.

Macy’s Stock Down 0.5 %

Shares of Macy’s stock opened at $11.36 on Friday. 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, Inc. has a 1-year low of $10.77 and a 1-year high of $20.70. The business’s fifty day moving average price is $14.15 and its two-hundred day moving average price is $15.19. The company has a market capitalization of $3.15 billion, a P/E ratio of 19.25 and a beta of 2.07.

Macy’s (NYSE:M) last issued its quarterly earnings data on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.25. The business had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.76 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. As a group, research analysts forecast 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. Investors of record on Friday, March 14th were issued a dividend of $0.1824 per share. This is a boost from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, March 14th. This represents a $0.73 annualized dividend and a yield of 6.43%. Macy’s’s payout ratio is presently 35.44%.

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.