Point72 Asia Singapore Pte. Ltd. Takes Position in Macy’s, Inc. (NYSE:M)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Macy’s, Inc. (NYSE:M) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,226 shares of the company’s stock, valued at approximately $62,000.

A number of other institutional investors also recently modified their holdings of the company. First Trust Advisors LP raised its holdings in Macy’s by 20.0% during the fourth quarter. First Trust Advisors LP now owns 1,996,632 shares of the company’s stock worth $40,172,000 after acquiring an additional 332,465 shares in the last quarter. Gabelli Funds LLC increased its position in Macy’s by 5.0% during the fourth quarter. Gabelli Funds LLC now owns 137,500 shares of the company’s stock worth $2,766,000 after buying an additional 6,500 shares during the last quarter. Seven Eight Capital LP acquired a new position in Macy’s during the fourth quarter worth approximately $1,568,000. Invenomic Capital Management LP acquired a new position in Macy’s during the fourth quarter worth approximately $19,372,000. Finally, Bridgefront Capital LLC acquired a new position in Macy’s during the fourth quarter worth approximately $415,000. 87.36% of the stock is currently owned by institutional investors.

Macy’s Stock Up 2.8 %

Shares of M opened at $15.80 on Friday. Macy’s, Inc. has a 52 week low of $10.54 and a 52 week high of $22.10. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 526.67 and a beta of 2.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. The stock has a fifty day moving average of $15.64 and a 200-day moving average of $17.77.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The company had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same period in the prior year, the company earned $0.26 EPS. Macy’s’s revenue was down 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Macy’s, Inc. will post 2.72 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend was Friday, September 13th. Macy’s’s dividend payout ratio is currently 2,300.00%.

Insider Buying and Selling

In related news, EVP Danielle L. Kirgan sold 24,147 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $457,827.12. Following the completion of the transaction, the executive vice president now directly owns 348,000 shares of the company’s stock, valued at $6,598,080. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Macy’s news, CEO Antony Spring sold 18,981 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $359,879.76. Following the completion of the sale, the chief executive officer now directly owns 267,265 shares in the company, valued at approximately $5,067,344.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Danielle L. Kirgan sold 24,147 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $457,827.12. Following the sale, the executive vice president now owns 348,000 shares of the company’s stock, valued at approximately $6,598,080. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,665 shares of company stock valued at $842,372 in the last three months. Insiders own 2.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Evercore ISI lowered their price target on Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 16th. StockNews.com initiated coverage on Macy’s in a research report on Tuesday, October 1st. They issued a “hold” rating on the stock. Morgan Stanley decreased their target price on Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $21.00 price target on shares of Macy’s in a research report on Wednesday, August 21st. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.43.

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.