Canada Pension Plan Investment Board Raises Position in Macy’s Inc (M)

Canada Pension Plan Investment Board boosted its stake in Macy’s Inc (NYSE:M) by 4.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,808 shares of the company’s stock after buying an additional 9,813 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Macy’s were worth $7,703,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Nissay Asset Management Corp Japan ADV raised its holdings in Macy’s by 4.9% in the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 28,887 shares of the company’s stock valued at $1,081,000 after acquiring an additional 1,337 shares during the last quarter. Penserra Capital Management LLC raised its holdings in Macy’s by 16.5% in the 3rd quarter. Penserra Capital Management LLC now owns 10,304 shares of the company’s stock valued at $357,000 after acquiring an additional 1,456 shares during the last quarter. Redpoint Investment Management Pty Ltd raised its holdings in Macy’s by 26.0% in the 3rd quarter. Redpoint Investment Management Pty Ltd now owns 7,362 shares of the company’s stock valued at $256,000 after acquiring an additional 1,519 shares during the last quarter. Nwam LLC raised its holdings in Macy’s by 19.9% in the 3rd quarter. Nwam LLC now owns 9,470 shares of the company’s stock valued at $329,000 after acquiring an additional 1,572 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd raised its holdings in Macy’s by 39.0% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 5,655 shares of the company’s stock valued at $196,000 after acquiring an additional 1,588 shares during the last quarter. 92.58% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider C Elisa D. Garcia sold 4,628 shares of Macy’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $35.85, for a total value of $165,913.80. Following the completion of the sale, the insider now owns 10,727 shares in the company, valued at approximately $384,562.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William H. Lenehan bought 3,154 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The stock was bought at an average price of $31.74 per share, with a total value of $100,107.96. Following the acquisition, the director now directly owns 11,214 shares in the company, valued at approximately $355,932.36. The disclosure for this purchase can be found here. Insiders sold a total of 233,312 shares of company stock valued at $7,817,972 in the last quarter. 2.36% of the stock is owned by insiders.

Shares of NYSE M opened at $31.69 on Friday. The company has a market cap of $9.95 billion, a PE ratio of 8.41, a PEG ratio of 0.93 and a beta of 0.56. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.35 and a quick ratio of 0.24. Macy’s Inc has a 1 year low of $22.47 and a 1 year high of $41.99.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, November 14th. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.13. Macy’s had a net margin of 6.72% and a return on equity of 22.33%. The firm had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter last year, the firm earned $0.23 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts expect that Macy’s Inc will post 4.08 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, December 14th will be issued a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.51 annualized dividend and a yield of 4.76%. Macy’s’s dividend payout ratio (DPR) is presently 40.05%.

A number of analysts have recently issued reports on the stock. Atlantic Securities downgraded shares of Macy’s from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $39.00 to $28.00 in a report on Thursday. Zacks Investment Research restated a “hold” rating and set a $43.00 price target on shares of Macy’s in a report on Wednesday, November 14th. Deutsche Bank raised their price target on shares of Macy’s from $33.00 to $35.00 and gave the stock a “hold” rating in a report on Thursday, August 16th. Bank of America set a $39.00 price target on shares of Macy’s and gave the stock a “hold” rating in a report on Thursday, November 15th. Finally, Standpoint Research downgraded shares of Macy’s from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $34.30.

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Macy’s Profile

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.

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

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