Annis Gardner Whiting Capital Advisors LLC Takes Position in Macy's, Inc. (NYSE:M)

Key Points

• Annis Gardner Whiting Capital Advisors LLC acquired 24,000 shares of Macy's, Inc., valued at approximately $301,000, during the first quarter of the year.
• Macy's reported a net margin of 2.45% and a quarterly revenue of $4.60 billion, surpassing analyst expectations despite a 5.1% decline compared to the previous year.
• The company announced a quarterly dividend of $0.1824 per share, with a dividend yield of 6.1% and a payout ratio of 37.06%.

Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Macy's, Inc. (NYSE:M - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 24,000 shares of the company's stock, valued at approximately $301,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. RWC Asset Management LLP acquired a new stake in shares of Macy's during the 1st quarter worth approximately $80,868,000. Junto Capital Management LP acquired a new position in Macy's during the fourth quarter valued at approximately $48,775,000. FMR LLC lifted its stake in Macy's by 59.9% during the fourth quarter. FMR LLC now owns 7,503,742 shares of the company's stock worth $127,038,000 after purchasing an additional 2,812,151 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Macy's by 1,230.8% in the 4th quarter. Marshall Wace LLP now owns 2,387,193 shares of the company's stock valued at $40,415,000 after purchasing an additional 2,207,809 shares in the last quarter. Finally, Cooper Creek Partners Management LLC boosted its holdings in shares of Macy's by 26.2% in the 4th quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company's stock valued at $132,701,000 after purchasing an additional 1,627,572 shares in the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

M has been the subject of a number of research analyst reports. Citigroup reissued a "neutral" rating and set a $12.00 price target (up previously from $11.00) on shares of Macy's in a report on Thursday, May 29th. Morgan Stanley reiterated a "negative" rating on shares of Macy's in a research report on Tuesday, May 6th. The Goldman Sachs Group downgraded Macy's from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $17.00 to $12.00 in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. raised their price target on shares of Macy's from $12.00 to $16.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Finally, Barclays initiated coverage on shares of Macy's in a report on Monday, April 28th. They set a "cautious" rating and a $12.00 price target on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $13.22.

Macy's Trading Up 0.8%

Shares of M stock traded up $0.09 during mid-day trading on Wednesday, reaching $12.09. 5,856,243 shares of the stock traded hands, compared to its average volume of 7,326,842. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 6.14 and a beta of 1.79. The company has a quick ratio of 0.37, a current ratio of 1.43 and a debt-to-equity ratio of 0.62. The stock's fifty day simple moving average is $12.06 and its two-hundred day simple moving average is $12.72. Macy's, Inc. has a 1-year low of $9.76 and a 1-year high of $18.13.

Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.01. Macy's had a net margin of 2.45% and a return on equity of 16.34%. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.38 billion. During the same quarter last year, the business earned $0.27 EPS. The firm's quarterly revenue was down 5.1% on a year-over-year basis. On average, research analysts anticipate that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Macy's Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were paid a $0.1824 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.73 annualized dividend and a dividend yield of 6.0%. Macy's's payout ratio is currently 37.06%.

Macy's Profile

Macy's, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm's brands include Macy's, Bloomingdale's, and Bluemercury. It offers men's, women's, and children's apparel, women's accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.