Highbridge Capital Management LLC Acquires 294,082 Shares of Macy’s Inc (M)

Highbridge Capital Management LLC boosted its stake in Macy’s Inc (NYSE:M) by 122.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 534,734 shares of the company’s stock after buying an additional 294,082 shares during the period. Highbridge Capital Management LLC’s holdings in Macy’s were worth $15,849,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. State Street Corp increased its stake in shares of Macy’s by 2.8% in the first quarter. State Street Corp now owns 14,715,484 shares of the company’s stock worth $436,170,000 after buying an additional 399,433 shares during the period. Two Sigma Securities LLC bought a new stake in shares of Macy’s during the first quarter worth $678,000. NS Partners Ltd bought a new stake in shares of Macy’s during the first quarter worth $4,362,000. Oppenheimer & Co. Inc. increased its stake in shares of Macy’s by 9.0% in the first quarter. Oppenheimer & Co. Inc. now owns 29,430 shares of the company’s stock worth $873,000 after buying an additional 2,437 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Macy’s by 3.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,560,894 shares of the company’s stock worth $46,265,000 after buying an additional 56,001 shares during the period. 86.32% of the stock is owned by institutional investors and hedge funds.

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

Macy’s Inc (NYSE M) traded up 2.55% during midday trading on Thursday, reaching $22.15. 4,530,018 shares of the company’s stock traded hands. The company has a market cap of $6.74 billion, a P/E ratio of 11.95 and a beta of 0.77. Macy’s Inc has a 52-week low of $21.51 and a 52-week high of $45.41. The stock has a 50-day moving average of $24.24 and a 200 day moving average of $30.08.

Macy’s (NYSE:M) last posted its earnings results on Thursday, May 11th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by $0.12. The company had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.49 billion. Macy’s had a return on equity of 22.37% and a net margin of 2.26%. The firm’s revenue was down 7.5% compared to the same quarter last year. During the same period last year, the company posted $0.40 EPS. On average, analysts anticipate that Macy’s Inc will post $3.34 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th will be issued a $0.3775 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 6.99%. Macy’s’s dividend payout ratio (DPR) is currently 81.62%.

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A number of analysts have weighed in on the stock. Royal Bank Of Canada set a $28.00 price target on shares of Macy’s and gave the company a “hold” rating in a report on Saturday, May 13th. Cowen and Company reissued a “market perform” rating and issued a $44.00 price target on shares of Macy’s in a report on Wednesday, February 22nd. Citigroup Inc. reduced their price target on shares of Macy’s from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, June 9th. Vetr downgraded shares of Macy’s from a “strong-buy” rating to a “buy” rating and set a $32.30 price target for the company. in a report on Thursday, April 6th. Finally, Wunderlich reissued a “buy” rating and issued a $24.00 price target on shares of Macy’s in a report on Monday, May 15th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $31.89.

In other news, EVP Felicia Williams sold 1,697 shares of the company’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $28.55, for a total value of $48,449.35. Following the completion of the transaction, the executive vice president now owns 1,697 shares of the company’s stock, valued at $48,449.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William H. Lenehan acquired 4,390 shares of the stock in a transaction dated Thursday, June 15th. The stock was purchased at an average cost of $22.72 per share, with a total value of $99,740.80. Following the purchase, the director now directly owns 5,968 shares of the company’s stock, valued at $135,592.96. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by corporate insiders.

About Macy’s

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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