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

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

Macy's Stock Down 0.2%

NYSE:M traded down $0.03 on Friday, reaching $12.08. The stock had a trading volume of 4,375,590 shares, compared to its average volume of 7,359,051. The company has a 50-day moving average of $12.07 and a 200 day moving average of $12.69. Macy's, Inc. has a 12-month low of $9.76 and a 12-month high of $18.13. The stock has a market cap of $3.28 billion, a P/E ratio of 6.13 and a beta of 1.79. The company has a current ratio of 1.43, a quick ratio of 0.37 and a debt-to-equity ratio of 0.62.

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

Macy's Announces Dividend

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. This represents a $0.73 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend was Friday, June 13th. Macy's's dividend payout ratio is currently 37.06%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Barclays started coverage on Macy's in a report on Monday, April 28th. They issued a "cautious" rating and a $12.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective 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. Telsey Advisory Group reduced their price target on Macy's from $15.00 to $14.00 and set a "market perform" rating for the company in a report on Thursday, May 29th. Morgan Stanley reissued a "negative" rating on shares of Macy's in a report on Tuesday, May 6th. Finally, Citigroup reaffirmed a "neutral" rating and set a $12.00 price target (up previously from $11.00) on shares of Macy's in a research note on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $13.22.

Macy's Company 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.