Harvest Fund Management Co. Ltd Buys 3,383 Shares of Macy’s, Inc. (NYSE:M)

Harvest Fund Management Co. Ltd grew its stake in shares of Macy’s, Inc. (NYSE:M) by 1,911.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,560 shares of the company’s stock after buying an additional 3,383 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Macy’s were worth $72,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Lindbrook Capital LLC raised its position in Macy’s by 253.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock valued at $26,000 after buying an additional 944 shares during the last quarter. Fortitude Family Office LLC acquired a new position in shares of Macy’s during the 4th quarter worth approximately $50,000. Fifth Third Bancorp grew its holdings in Macy’s by 221.4% in the 3rd quarter. Fifth Third Bancorp now owns 3,506 shares of the company’s stock valued at $41,000 after buying an additional 2,415 shares in the last quarter. GAMMA Investing LLC acquired a new position in Macy’s in the 4th quarter valued at $81,000. Finally, Covestor Ltd grew its holdings in Macy’s by 25.5% in the 3rd quarter. Covestor Ltd now owns 4,763 shares of the company’s stock valued at $55,000 after buying an additional 969 shares in the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Insider Buying and Selling

In other Macy’s news, CFO Adrian V. Mitchell sold 13,249 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total value of $270,544.58. Following the sale, the chief financial officer now directly owns 99,098 shares in the company, valued at $2,023,581.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Paul Griscom sold 2,969 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.43, for a total transaction of $60,656.67. Following the completion of the transaction, the senior vice president now directly owns 21,436 shares in the company, valued at $437,937.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Adrian V. Mitchell sold 13,249 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 $270,544.58. Following the transaction, the chief financial officer now owns 99,098 shares of the company’s stock, valued at $2,023,581.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 218,424 shares of company stock worth $4,405,507. 1.52% of the stock is owned by company insiders.

Macy’s Stock Down 2.0 %

M stock opened at $18.35 on Friday. Macy’s, Inc. has a twelve month low of $10.54 and a twelve month high of $22.10. The company has a quick ratio of 0.39, a current ratio of 1.37 and a debt-to-equity ratio of 0.72. The stock’s 50 day moving average is $19.65 and its 200-day moving average is $17.43. The firm has a market capitalization of $5.05 billion, a PE ratio of 49.59 and a beta of 2.15.

Macy’s (NYSE:M) last posted its earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, beating 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 company had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.07 billion. During the same quarter last year, the company earned $1.88 earnings per share. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. Sell-side analysts expect that Macy’s, Inc. will post 2.57 EPS for the current fiscal year.

Macy’s Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a dividend of $0.1737 per share. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.69 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend was Thursday, March 14th. Macy’s’s dividend payout ratio (DPR) is 186.49%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on M shares. JPMorgan Chase & Co. increased their target price on Macy’s from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. The Goldman Sachs Group increased their target price on Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Telsey Advisory Group reiterated a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a research report on Thursday, March 28th. Citigroup raised Macy’s from a “sell” rating to a “neutral” rating and increased their price target for the company from $14.00 to $18.00 in a research note on Friday, February 2nd. Finally, StockNews.com began coverage on Macy’s in a research note on Wednesday. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued 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.

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.