Harvest Fund Management Co. Ltd Raises Position in Macy’s, Inc. (NYSE:M)

Harvest Fund Management Co. Ltd raised its stake in Macy’s, Inc. (NYSE:M) by 1,911.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,560 shares of the company’s stock after purchasing an additional 3,383 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Macy’s were worth $72,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of M. Yousif Capital Management LLC lifted its holdings in shares of Macy’s by 0.6% in the fourth quarter. Yousif Capital Management LLC now owns 140,135 shares of the company’s stock worth $2,820,000 after buying an additional 841 shares in the last quarter. CWM LLC increased its position in shares of Macy’s by 13.9% in the fourth quarter. CWM LLC now owns 7,587 shares of the company’s stock worth $153,000 after purchasing an additional 924 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of Macy’s by 253.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after purchasing an additional 944 shares during the last quarter. Covestor Ltd increased its position in shares of Macy’s by 25.5% in the third quarter. Covestor Ltd now owns 4,763 shares of the company’s stock worth $55,000 after purchasing an additional 969 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of Macy’s by 1.8% in the third quarter. Arizona State Retirement System now owns 77,598 shares of the company’s stock worth $901,000 after purchasing an additional 1,368 shares during the last quarter. 87.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Macy’s news, Director Jeffrey Gennette sold 78,567 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 transaction of $1,604,338.14. Following the completion of the sale, the director now directly owns 994,301 shares in the company, valued at approximately $20,303,626.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Macy’s news, Director Jeffrey Gennette sold 78,567 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 transaction of $1,604,338.14. Following the completion of the sale, the director now directly owns 994,301 shares in the company, valued at approximately $20,303,626.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Antony Spring sold 14,859 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $19.63, for a total value of $291,682.17. Following the sale, the chief executive officer now owns 248,897 shares of the company’s stock, valued at $4,885,848.11. The disclosure for this sale can be found here. In the last ninety days, insiders sold 218,424 shares of company stock worth $4,405,507. 1.52% of the stock is owned by corporate insiders.

Macy’s Price Performance

Shares of NYSE:M opened at $18.35 on Friday. Macy’s, Inc. has a 1-year low of $10.54 and a 1-year high of $22.10. 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 business has a fifty day moving average price of $19.65 and a 200-day moving average price of $17.43. The company 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 released its quarterly earnings data on Tuesday, February 27th. The company reported $2.45 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $8.07 billion. During the same period last year, the company earned $1.88 EPS. Macy’s’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, equities analysts expect that Macy’s, Inc. will post 2.57 EPS 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 represents a $0.69 annualized dividend and a yield of 3.79%. This is an increase from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Thursday, March 14th. Macy’s’s dividend payout ratio (DPR) is presently 186.49%.

Analysts Set New Price Targets

Several research analysts recently weighed in on M shares. The Goldman Sachs Group upped their price objective on shares of Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Morgan Stanley reduced their price target on shares of 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. Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 price target on shares of Macy’s in a research report on Thursday, March 28th. StockNews.com initiated coverage on shares of Macy’s in a research report on Wednesday. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. increased their price target on shares of Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus 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.