National Bank of Canada FI Has $38.19 Million Stock Holdings in Macy’s, Inc. (NYSE:M)

National Bank of Canada FI raised its position in Macy’s, Inc. (NYSE:M) by 15.1% in the 4th quarter, HoldingsChannel reports. The fund owned 1,932,706 shares of the company’s stock after purchasing an additional 253,999 shares during the period. National Bank of Canada FI’s holdings in Macy’s were worth $38,190,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of M. Robeco Institutional Asset Management B.V. boosted its position in shares of Macy’s by 15.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 144,926 shares of the company’s stock valued at $1,683,000 after acquiring an additional 19,377 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in shares of Macy’s by 16.9% during the 3rd quarter. Pinnacle Associates Ltd. now owns 24,390 shares of the company’s stock worth $283,000 after buying an additional 3,522 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Macy’s by 8.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,718 shares of the company’s stock valued at $566,000 after buying an additional 3,961 shares in the last quarter. Fifth Third Bancorp grew its position in Macy’s by 221.4% in the third quarter. Fifth Third Bancorp now owns 3,506 shares of the company’s stock valued at $41,000 after acquiring an additional 2,415 shares during the period. Finally, Lynwood Capital Management Inc. acquired a new position in Macy’s during the third quarter worth $580,000. Institutional investors own 87.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on M shares. TD Cowen lowered shares of Macy’s from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $23.00 to $20.00 in a report on Thursday, February 29th. The Goldman Sachs Group raised their price objective on shares of Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Telsey Advisory Group reissued a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a report on Thursday, March 28th. Citigroup raised Macy’s from a “sell” rating to a “neutral” rating and raised their price target for the company from $14.00 to $18.00 in a report on Friday, February 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on Macy’s from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Macy’s has an average rating of “Hold” and a consensus price target of $17.45.

Insider Activity at Macy’s

In other Macy’s news, CEO Antony Spring sold 13,404 shares of the business’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 transaction, the chief executive officer now directly owns 223,286 shares of the company’s stock, valued at $4,559,500.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Macy’s news, CFO Adrian V. Mitchell sold 13,279 shares of Macy’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $19.63, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Antony Spring sold 13,404 shares of the 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 transaction, the chief executive officer now 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 90 days, insiders sold 218,424 shares of company stock worth $4,405,507. 2.77% of the stock is currently owned by company insiders.

Macy’s Trading Down 0.2 %

NYSE:M traded down $0.04 on Monday, hitting $19.48. 1,995,713 shares of the stock were exchanged, compared to its average volume of 7,532,000. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 52.76 and a beta of 2.16. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.39 and a current ratio of 1.37. Macy’s, Inc. has a 52 week low of $10.54 and a 52 week high of $22.10. The company’s 50-day moving average price is $19.57 and its 200 day moving average price is $17.84.

Macy’s (NYSE:M) last posted its quarterly 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. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The business had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.07 billion. During the same period in the previous year, the firm posted $1.88 earnings per share. Macy’s’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, equities research analysts forecast that Macy’s, Inc. will post 2.57 earnings per share for the current year.

Macy’s Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.57%. This is an increase from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, March 14th. Macy’s’s dividend payout ratio (DPR) is currently 186.49%.

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.