Point72 Asia Singapore Pte. Ltd. Takes $62,000 Position in Macy’s, Inc. (NYSE:M)

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall Wace LLP grew its position in shares of Macy’s by 1,539.5% in the 2nd quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock valued at $67,871,000 after buying an additional 3,319,337 shares during the last quarter. Bank of Montreal Can raised its holdings in Macy’s by 400.7% during the 2nd quarter. Bank of Montreal Can now owns 55,685 shares of the company’s stock worth $1,085,000 after purchasing an additional 74,201 shares during the last quarter. Gabelli Funds LLC lifted its position in shares of Macy’s by 18.9% in the 2nd quarter. Gabelli Funds LLC now owns 189,950 shares of the company’s stock worth $3,647,000 after purchasing an additional 30,200 shares during the period. Ensign Peak Advisors Inc boosted its stake in shares of Macy’s by 167.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 271,962 shares of the company’s stock valued at $5,222,000 after purchasing an additional 170,115 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Macy’s by 47.3% during the second quarter. Sei Investments Co. now owns 29,209 shares of the company’s stock worth $561,000 after buying an additional 9,379 shares during the period. 87.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other 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 value of $359,879.76. Following the completion of the transaction, the chief executive officer now owns 267,265 shares in the company, valued at $5,067,344.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Antony Spring sold 18,981 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 value of $359,879.76. Following the completion of the transaction, the chief executive officer now directly owns 267,265 shares of the company’s stock, valued at $5,067,344.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Danielle L. Kirgan sold 24,147 shares of Macy’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $457,827.12. Following the completion of the transaction, 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. In the last 90 days, insiders sold 44,665 shares of company stock valued at $842,372. 2.77% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on M shares. StockNews.com assumed coverage on Macy’s in a research report on Monday, September 23rd. They set a “hold” rating on the stock. Evercore ISI reduced their price objective on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research report on Tuesday, July 16th. Morgan Stanley dropped their target price on shares of 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 restated a “market perform” rating and issued a $21.00 price target on shares of Macy’s in a report on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.43.

Macy’s Stock Performance

NYSE M opened at $15.25 on Monday. The company has a market capitalization of $4.22 billion, a PE ratio of 508.33 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. Macy’s, Inc. has a 52-week low of $10.54 and a 52-week high of $22.10. The company has a 50-day simple moving average of $15.74 and a 200 day simple moving average of $17.92.

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

Macy’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.1737 per share. The ex-dividend date is Friday, September 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.56%. 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.