Oak Thistle LLC Takes Position in Macy’s, Inc. (NYSE:M)

Oak Thistle LLC acquired a new stake in shares of Macy’s, Inc. (NYSE:MFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 33,402 shares of the company’s stock, valued at approximately $672,000.

Other institutional investors have also recently made changes to their positions in the company. Clear Harbor Asset Management LLC bought a new position in shares of Macy’s in the 4th quarter valued at about $207,000. Pacer Advisors Inc. lifted its stake in Macy’s by 80.3% in the fourth quarter. Pacer Advisors Inc. now owns 41,132 shares of the company’s stock worth $828,000 after purchasing an additional 18,317 shares during the last quarter. Raymond James & Associates lifted its stake in Macy’s by 42.4% in the fourth quarter. Raymond James & Associates now owns 21,432 shares of the company’s stock worth $431,000 after purchasing an additional 6,378 shares during the last quarter. HB Wealth Management LLC bought a new stake in Macy’s in the fourth quarter worth about $239,000. Finally, SG Americas Securities LLC bought a new stake in Macy’s in the fourth quarter worth about $6,021,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Macy’s Stock Performance

Shares of NYSE:M opened at $19.06 on Wednesday. The firm has a market cap of $5.23 billion, a PE ratio of 51.51 and a beta of 2.15. The firm’s 50 day simple moving average is $19.56 and its 200-day simple moving average is $16.56. Macy’s, Inc. has a one year low of $10.54 and a one 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.

Macy’s (NYSE:MGet Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.47. The company had revenue of $8.12 billion for 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%. Macy’s’s revenue was down 1.7% compared to the same quarter last year. During the same period last year, the company posted $1.88 earnings per share. As a group, equities analysts predict that Macy’s, Inc. will post 2.57 EPS for the current 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 dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a yield of 3.65%. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, March 14th. Macy’s’s dividend payout ratio (DPR) is presently 186.49%.

Insider Activity at Macy’s

In related news, CEO Antony Spring sold 13,404 shares of Macy’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total transaction of $273,709.68. Following the transaction, the chief executive officer now directly owns 223,286 shares of the company’s stock, valued at $4,559,500.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Macy’s news, EVP Danielle L. Kirgan sold 15,070 shares of Macy’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total value of $307,729.40. Following the transaction, the executive vice president now directly owns 306,555 shares of the company’s stock, valued at $6,259,853.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Antony Spring sold 13,404 shares of Macy’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $273,709.68. Following the completion of the transaction, the chief executive officer now directly owns 223,286 shares in the company, valued at $4,559,500.12. The disclosure for this sale can be found here. Insiders have sold a total of 218,424 shares of company stock valued at $4,405,507 over the last ninety days. 1.52% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on M. The Goldman Sachs Group raised their price objective 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 raised shares of Macy’s from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $14.00 to $18.00 in a research note on Friday, February 2nd. Morgan Stanley decreased their price objective on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 28th. JPMorgan Chase & Co. raised their price objective on shares of Macy’s from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a research note on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $17.45.

Check Out Our Latest Stock Report on M

Macy’s Company Profile

(Free Report)

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.

Further Reading

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

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