Marshall Wace LLP Purchases 3,319,337 Shares of Macy’s, Inc. (NYSE:M)

Marshall Wace LLP increased its holdings in shares of Macy’s, Inc. (NYSE:M) by 1,539.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,534,952 shares of the company’s stock after acquiring an additional 3,319,337 shares during the period. Marshall Wace LLP owned about 1.28% of Macy’s worth $67,871,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of M. Riverview Trust Co bought a new position in shares of Macy’s in the first quarter worth about $27,000. Fidelis Capital Partners LLC bought a new position in Macy’s in the 1st quarter worth approximately $42,000. Future Financial Wealth Managment LLC acquired a new position in Macy’s during the 1st quarter worth $50,000. EntryPoint Capital LLC bought a new position in Macy’s in the 1st quarter valued at $51,000. Finally, Parallel Advisors LLC boosted its position in Macy’s by 81.4% in the 4th quarter. Parallel Advisors LLC now owns 3,019 shares of the company’s stock valued at $61,000 after buying an additional 1,355 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

M has been the topic of several research reports. StockNews.com began coverage on Macy’s in a research note on Monday. They set a “hold” rating on the stock. Evercore ISI lowered their price target on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research report on Tuesday, July 16th. Telsey Advisory Group reissued a “market perform” rating and set a $21.00 price target on shares of Macy’s in a research note on Wednesday, August 21st. Finally, Morgan Stanley reduced their price objective on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.50.

Insider Buying and Selling at Macy’s

In related news, EVP Danielle L. Kirgan sold 24,147 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $457,827.12. Following the completion of the transaction, the executive vice president now owns 348,000 shares of the company’s stock, valued at $6,598,080. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Antony Spring sold 18,981 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $359,879.76. Following the completion of the sale, the chief executive officer now owns 267,265 shares of the company’s stock, valued at approximately $5,067,344.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Danielle L. Kirgan sold 24,147 shares of the business’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $457,827.12. Following the transaction, the executive vice president now owns 348,000 shares in the company, valued at $6,598,080. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,665 shares of company stock worth $842,372. Corporate insiders own 2.77% of the company’s stock.

Macy’s Stock Performance

M stock opened at $15.07 on Wednesday. Macy’s, Inc. has a 1-year low of $10.54 and a 1-year high of $22.10. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. The firm has a market cap of $4.17 billion, a PE ratio of 502.33 and a beta of 2.11. The business’s 50-day moving average price is $15.83 and its two-hundred day moving average price is $18.04.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.23. The business had revenue of $4.94 billion during the quarter, compared to analyst estimates of $5.06 billion. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. Macy’s’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.26 EPS. As a group, research analysts forecast that Macy’s, Inc. will post 2.72 earnings per share for the current year.

Macy’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.1737 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend is Friday, September 13th. Macy’s’s dividend payout ratio is 2,300.00%.

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.