DekaBank Deutsche Girozentrale Acquires 4,391 Shares of Macy’s, Inc. (NYSE:M)

DekaBank Deutsche Girozentrale raised its holdings in Macy’s, Inc. (NYSE:M) by 136.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,603 shares of the company’s stock after acquiring an additional 4,391 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Macy’s were worth $153,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of M. FinTrust Capital Advisors LLC purchased a new position in shares of Macy’s during the fourth quarter worth approximately $26,000. Quarry LP bought a new position in Macy’s in the first quarter worth approximately $33,000. Belpointe Asset Management LLC grew its stake in Macy’s by 267.1% in the first quarter. Belpointe Asset Management LLC now owns 1,964 shares of the company’s stock worth $34,000 after purchasing an additional 1,429 shares in the last quarter. Estabrook Capital Management increased its holdings in Macy’s by 77.8% during the 1st quarter. Estabrook Capital Management now owns 1,600 shares of the company’s stock worth $39,000 after purchasing an additional 700 shares during the period. Finally, Fifth Third Bancorp raised its position in Macy’s by 221.4% during the 3rd quarter. Fifth Third Bancorp now owns 3,506 shares of the company’s stock valued at $41,000 after purchasing an additional 2,415 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Wall Street Analyst Weigh In

M has been the topic of a number of recent research reports. TD Cowen downgraded Macy’s from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $23.00 to $20.00 in a research report on Thursday, February 29th. Morgan Stanley dropped their target price on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 28th. Citigroup raised shares of Macy’s from a “sell” rating to a “neutral” rating and raised their target price for the company from $14.00 to $18.00 in a research report on Friday, February 2nd. The Goldman Sachs Group upped their price target on shares of Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a report on Thursday, March 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $17.45.

Insider Buying and Selling

In other news, Director Jeffrey Gennette sold 30,090 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $19.66, for a total transaction of $591,569.40. Following the sale, the director now directly owns 1,073,699 shares of the company’s stock, valued at $21,108,922.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Jeffrey Gennette sold 30,090 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $19.66, for a total value of $591,569.40. Following the completion of the transaction, the director now directly owns 1,073,699 shares in the company, valued at $21,108,922.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Paul Griscom sold 2,969 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.43, for a total value of $60,656.67. Following the completion of the sale, the senior vice president now owns 21,436 shares in the company, valued at approximately $437,937.48. The disclosure for this sale can be found here. Insiders sold 218,424 shares of company stock worth $4,405,507 in the last three months. Corporate insiders own 1.52% of the company’s stock.

Macy’s Price Performance

Shares of M opened at $19.00 on Wednesday. The company has a 50 day moving average of $19.70 and a two-hundred day moving average of $17.14. The company has a quick ratio of 0.39, a current ratio of 1.37 and a debt-to-equity ratio of 0.72. Macy’s, Inc. has a twelve month low of $10.54 and a twelve month high of $22.10. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 51.35 and a beta of 2.15.

Macy’s (NYSE:M) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.47. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. The firm had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $8.07 billion. During the same quarter last year, the firm earned $1.88 EPS. The business’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, analysts predict that Macy’s, Inc. will post 2.57 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a $0.1737 dividend. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Thursday, March 14th. Macy’s’s dividend payout ratio (DPR) is presently 186.49%.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.