Los Angeles Capital Management LLC Has $6.69 Million Stock Position in Macy’s, Inc. (NYSE:M)

Los Angeles Capital Management LLC lifted its holdings in Macy’s, Inc. (NYSE:M) by 2,964.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 332,488 shares of the company’s stock after purchasing an additional 321,638 shares during the period. Los Angeles Capital Management LLC owned 0.12% of Macy’s worth $6,690,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Hexagon Capital Partners LLC grew its holdings in Macy’s by 1,166.8% in the 4th quarter. Hexagon Capital Partners LLC now owns 2,749 shares of the company’s stock valued at $55,000 after buying an additional 2,532 shares during the last quarter. Islay Capital Management LLC acquired a new position in Macy’s during the 4th quarter valued at $1,301,000. SummerHaven Investment Management LLC boosted its holdings in Macy’s by 1.3% in 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. Retirement Systems of Alabama grew its position in Macy’s by 0.5% in the 4th quarter. Retirement Systems of Alabama now owns 498,612 shares of the company’s stock worth $10,032,000 after purchasing an additional 2,428 shares during the last quarter. Finally, Atria Wealth Solutions Inc. bought a new position in shares of Macy’s during the 4th quarter worth about $210,000. 87.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Macy’s

In other news, CEO Antony Spring sold 13,404 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.42, for a total value of $273,709.68. Following the completion of the sale, the chief executive officer now directly owns 223,286 shares of the company’s stock, valued at approximately $4,559,500.12. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Adrian V. Mitchell sold 13,279 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $19.63, for a total transaction of $260,666.77. Following the sale, the chief financial officer now owns 120,457 shares of the company’s stock, valued at approximately $2,364,570.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Antony Spring sold 13,404 shares of the business’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 $273,709.68. Following the completion of the transaction, the chief executive officer now directly owns 223,286 shares of the company’s stock, valued at $4,559,500.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 218,424 shares of company stock valued at $4,405,507. 1.52% of the stock is currently owned by insiders.

Macy’s Stock Performance

Shares of Macy’s stock opened at $19.52 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.39. The firm has a 50 day simple moving average of $19.57 and a 200 day simple moving average of $17.79. Macy’s, Inc. has a fifty-two week low of $10.54 and a fifty-two week high of $22.10. The firm has a market cap of $5.37 billion, a P/E ratio of 52.76 and a beta of 2.16.

Macy’s (NYSE:M) last released its earnings results 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. The company had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.07 billion. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.88 earnings per share. Sell-side analysts predict that Macy’s, Inc. will post 2.57 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued 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 yield of 3.56%. The ex-dividend date was Thursday, March 14th. Macy’s’s dividend payout ratio is currently 186.49%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Telsey Advisory Group reiterated a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a research report on Thursday, March 28th. Citigroup raised shares of Macy’s from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $14.00 to $18.00 in a report on Friday, February 2nd. JPMorgan Chase & Co. upped their target price on shares of Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. StockNews.com initiated coverage on Macy’s in a report on Thursday. They set a “hold” rating on the stock. Finally, Morgan Stanley lowered their price target on Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.45.

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.