ICM Asset Management Inc. WA Grows Stake in Macy's Inc (M)

ICM Asset Management Inc. WA lifted its stake in shares of Macy's Inc (NYSE:M) by 18.4% in the 4th quarter, HoldingsChannel reports. The fund owned 50,160 shares of the company’s stock after acquiring an additional 7,800 shares during the quarter. Macy's comprises 1.4% of ICM Asset Management Inc. WA’s holdings, making the stock its 20th biggest position. ICM Asset Management Inc. WA’s holdings in Macy's were worth $1,264,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in M. American International Group Inc. boosted its stake in shares of Macy's by 98.9% during the 4th quarter. American International Group Inc. now owns 23,923,612 shares of the company’s stock worth $602,636,000 after acquiring an additional 11,894,858 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Macy's by 28.0% in the fourth quarter. Bank of New York Mellon Corp now owns 10,653,773 shares of the company’s stock worth $268,367,000 after buying an additional 2,328,072 shares during the period. Prudential Financial Inc. boosted its position in shares of Macy's by 75.3% in the third quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company’s stock worth $109,392,000 after buying an additional 2,153,110 shares during the period. Element Capital Management LLC acquired a new stake in shares of Macy's in the fourth quarter worth $53,293,000. Finally, QV Investors Inc. acquired a new stake in shares of Macy's in the fourth quarter worth $45,737,000. 86.85% of the stock is owned by institutional investors and hedge funds.

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In other Macy's news, CFO Karen M. Hoguet sold 67,515 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $29.39, for a total transaction of $1,984,265.85. Following the transaction, the chief financial officer now directly owns 67,515 shares in the company, valued at $1,984,265.85. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Marna C. Whittington sold 20,000 shares of the firm’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $30.30, for a total value of $606,000.00. Following the transaction, the director now owns 54,834 shares in the company, valued at $1,661,470.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 106,607 shares of company stock worth $3,150,407. Corporate insiders own 1.40% of the company’s stock.

Shares of Macy's Inc (NYSE:M) opened at $29.18 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 0.45 and a debt-to-equity ratio of 1.04. Macy's Inc has a 1-year low of $17.41 and a 1-year high of $31.04. The stock has a market capitalization of $8,808.72, a price-to-earnings ratio of 5.81, a P/E/G ratio of 0.94 and a beta of 0.79.

Macy's (NYSE:M) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.71 by $0.11. Macy's had a return on equity of 24.93% and a net margin of 6.23%. The business had revenue of $8.67 billion during the quarter, compared to analyst estimates of $8.70 billion. During the same period last year, the company earned $2.02 earnings per share. Macy's’s quarterly revenue was up 1.8% compared to the same quarter last year. analysts predict that Macy's Inc will post 3.63 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.3775 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.51 annualized dividend and a yield of 5.17%. Macy's’s dividend payout ratio (DPR) is currently 29.96%.

Several analysts have recently commented on the company. Jefferies Group reaffirmed a “hold” rating on shares of Macy's in a research report on Tuesday, February 27th. Guggenheim reaffirmed a “buy” rating and issued a $27.00 target price on shares of Macy's in a research report on Friday, December 15th. ValuEngine raised Macy's from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Deutsche Bank raised their target price on Macy's from $27.00 to $28.00 and gave the stock a “hold” rating in a research report on Monday, February 26th. Finally, Vetr raised Macy's from a “buy” rating to a “strong-buy” rating and set a $29.84 target price for the company in a research report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $26.60.

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Macy's Company Profile

Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.

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Institutional Ownership by Quarter for Macy's (NYSE:M)

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