Mitsubishi UFJ Asset Management Co. Ltd. Acquires New Position in Macy’s, Inc. (NYSE:M)

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Macy’s, Inc. (NYSE:M) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 26,038 shares of the company’s stock, valued at approximately $493,000.

Several other large investors have also added to or reduced their stakes in the company. SummerHaven Investment Management LLC raised its stake in Macy’s by 1.3% during the 4th quarter. SummerHaven Investment Management LLC now owns 43,046 shares of the company’s stock valued at $866,000 after purchasing an additional 554 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Macy’s by 3.5% in the fourth quarter. Private Advisor Group LLC now owns 17,847 shares of the company’s stock worth $359,000 after buying an additional 603 shares in the last quarter. Yousif Capital Management LLC boosted its position in shares of Macy’s by 0.6% during the fourth quarter. Yousif Capital Management LLC now owns 140,135 shares of the company’s stock worth $2,820,000 after acquiring an additional 841 shares during the last quarter. CWM LLC increased its holdings in Macy’s by 13.9% in the 4th quarter. CWM LLC now owns 7,587 shares of the company’s stock valued at $153,000 after acquiring an additional 924 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its stake in Macy’s by 253.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after purchasing an additional 944 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Macy’s Price Performance

M stock opened at $20.12 on Thursday. The stock has a market cap of $5.54 billion, a PE ratio of 54.38 and a beta of 2.16. Macy’s, Inc. has a 12 month low of $10.54 and a 12 month high of $22.10. The company has a 50-day moving average price of $19.50 and a 200 day moving average price of $18.49. The company has a current ratio of 1.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.72.

Macy’s (NYSE:M) last announced its earnings results on Tuesday, May 21st. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.12. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the business earned $0.56 earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. Equities research analysts anticipate that Macy’s, Inc. will post 2.54 earnings per share for the current year.

Macy’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.1737 per share. The ex-dividend date is Friday, June 14th. This represents a $0.69 annualized dividend and a dividend yield of 3.45%. Macy’s’s dividend payout ratio (DPR) is 186.49%.

Insider Activity

In other news, SVP Paul Griscom sold 2,969 shares of Macy’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 transaction of $60,656.67. Following the completion of the sale, the senior vice president now owns 21,436 shares of the company’s stock, valued at $437,937.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Paul Griscom sold 2,969 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.43, for a total transaction of $60,656.67. Following the transaction, the senior vice president now owns 21,436 shares in the company, valued at $437,937.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey Gennette sold 78,567 shares of Macy’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $20.42, for a total value of $1,604,338.14. Following the completion of the sale, the director now owns 994,301 shares of the company’s stock, valued at $20,303,626.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,424 shares of company stock valued at $4,405,507. 2.77% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Citigroup raised Macy’s from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $14.00 to $18.00 in a report on Friday, February 2nd. JPMorgan Chase & Co. upped their price objective on Macy’s from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday. The Goldman Sachs Group raised their target price on shares of Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. TD Cowen upped their price target on shares of Macy’s from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a report on Tuesday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $17.73.

Macy’s Company Profile

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.