Caxton Associates LP Purchases New Shares in Macy’s, Inc. (NYSE:M)

Caxton Associates LP purchased a new stake in shares of Macy’s, Inc. (NYSE:M) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 64,469 shares of the company’s stock, valued at approximately $1,238,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Riverview Trust Co bought a new position in shares of Macy’s during the 1st quarter worth $27,000. Fidelis Capital Partners LLC bought a new position in shares of Macy’s during the 1st quarter worth $42,000. Future Financial Wealth Managment LLC bought a new stake in Macy’s during the first quarter valued at about $50,000. EntryPoint Capital LLC bought a new stake in Macy’s during the first quarter valued at about $51,000. Finally, Parallel Advisors LLC boosted its position in Macy’s by 81.4% during the fourth quarter. Parallel Advisors LLC now owns 3,019 shares of the company’s stock valued at $61,000 after purchasing an additional 1,355 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Insider Transactions at Macy’s

In other news, EVP Danielle L. Kirgan sold 24,147 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $457,827.12. Following the transaction, the executive vice president now directly owns 348,000 shares of the company’s stock, valued at $6,598,080. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Macy’s news, CEO Antony Spring sold 18,981 shares of Macy’s stock in a transaction dated Wednesday, July 10th. The shares were 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 $5,067,344.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Danielle L. Kirgan sold 24,147 shares of Macy’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $457,827.12. Following the sale, the executive vice president now owns 348,000 shares of the company’s stock, valued at $6,598,080. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,665 shares of company stock valued at $842,372. Corporate insiders own 2.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on M shares. StockNews.com started coverage on Macy’s in a research report on Monday. They set a “hold” rating on the stock. Morgan Stanley decreased their price target on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Evercore ISI decreased their price target on Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research note on Tuesday, July 16th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $21.00 price target on shares of Macy’s in a research note on Wednesday, August 21st. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.50.

Macy’s Stock Performance

M opened at $14.87 on Thursday. The firm has a fifty day moving average price of $15.79 and a 200 day moving average price of $18.02. Macy’s, Inc. has a 1 year low of $10.54 and a 1 year high of $22.10. The stock has a market cap of $4.11 billion, a P/E ratio of 495.67 and a beta of 2.11. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34.

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

Macy’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a yield of 4.67%. The ex-dividend date is Friday, September 13th. Macy’s’s payout ratio is 2,300.00%.

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.