Zurcher Kantonalbank Zurich Cantonalbank Increases Position in Macy’s, Inc. (NYSE:M)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Macy’s, Inc. (NYSE:M) by 20.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,551 shares of the company’s stock after purchasing an additional 9,833 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Macy’s were worth $1,178,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Fortitude Family Office LLC acquired a new position in shares of Macy’s in the 4th quarter valued at $50,000. Fifth Third Bancorp boosted its stake in Macy’s by 221.4% during the 3rd quarter. Fifth Third Bancorp now owns 3,506 shares of the company’s stock worth $41,000 after purchasing an additional 2,415 shares during the period. Covestor Ltd boosted its stake in Macy’s by 25.5% during the 3rd quarter. Covestor Ltd now owns 4,763 shares of the company’s stock worth $55,000 after purchasing an additional 969 shares during the period. CWM LLC boosted its stake in Macy’s by 241.3% during the 3rd quarter. CWM LLC now owns 6,663 shares of the company’s stock worth $77,000 after purchasing an additional 4,711 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Macy’s by 1,906.1% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 7,222 shares of the company’s stock worth $84,000 after purchasing an additional 6,862 shares during the period. 87.36% of the stock is owned by hedge funds and other institutional investors.

Macy’s Price Performance

M opened at $18.44 on Friday. The company’s 50 day simple moving average is $19.63 and its 200 day simple moving average is $17.48. 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 quick ratio of 0.39 and a current ratio of 1.37. The stock has a market capitalization of $5.07 billion, a PE ratio of 49.84 and a beta of 2.15.

Macy’s (NYSE:M) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.47. The business had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.07 billion. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The business’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.88 earnings per share. As a group, sell-side analysts expect that Macy’s, Inc. will post 2.57 EPS for the current year.

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date was Thursday, March 14th. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s payout ratio is 186.49%.

Analysts Set New Price Targets

Several research firms have recently commented on M. The Goldman Sachs Group raised their target price on shares of Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Citigroup upgraded shares of 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 report on Friday, February 2nd. Telsey Advisory Group restated a “market perform” rating and set a $21.00 target price on shares of Macy’s in a report on Thursday, March 28th. TD Cowen downgraded shares of Macy’s from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $23.00 to $20.00 in a report on Thursday, February 29th. Finally, StockNews.com initiated coverage on shares of Macy’s in a report on Wednesday. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $17.45.

Insider Buying and Selling

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

Macy’s 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.