Pallas Capital Advisors LLC Acquires New Position in Macy's, Inc. (NYSE:M)

Pallas Capital Advisors LLC acquired a new stake in shares of Macy's, Inc. (NYSE:M - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 29,145 shares of the company's stock, valued at approximately $366,000.

Several other large investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Macy's during the 4th quarter valued at about $96,689,000. Junto Capital Management LP purchased a new position in Macy's during the 4th quarter valued at about $48,775,000. FMR LLC boosted 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 buying an additional 2,812,151 shares in 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 buying 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 buying an additional 1,627,572 shares in the last quarter. 87.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Antony Spring sold 20,868 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $12.68, for a total transaction of $264,606.24. Following the completion of the sale, the chief executive officer now owns 321,244 shares of the company's stock, valued at $4,073,373.92. This represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Adrian V. Mitchell sold 3,489 shares of the company's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $47,938.86. Following the sale, the executive vice president now directly owns 116,165 shares of the company's stock, valued at $1,596,107.10. The trade was a 2.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,751 shares of company stock valued at $537,790. 1.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

M has been the topic of a number of recent analyst reports. Telsey Advisory Group lowered their price target on shares of Macy's from $15.00 to $14.00 and set a "market perform" rating on the stock in a report on Thursday, May 29th. Morgan Stanley restated a "negative" rating on shares of Macy's in a report on Tuesday, May 6th. Gordon Haskett cut shares of Macy's from an "accumulate" rating to a "hold" rating in a report on Thursday, March 6th. UBS Group lowered their price target on shares of Macy's from $9.00 to $8.00 and set a "sell" rating on the stock in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Macy's from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, ten 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 data from MarketBeat.com, Macy's presently has a consensus rating of "Hold" and a consensus price target of $13.20.

Macy's Stock Performance

Shares of M traded up $0.63 during trading hours on Monday, hitting $11.87. The stock had a trading volume of 7,995,929 shares, compared to its average volume of 6,546,715. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The firm has a 50-day moving average price of $11.67 and a 200 day moving average price of $13.73. Macy's, Inc. has a fifty-two week low of $9.76 and a fifty-two week high of $20.47. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 20.12 and a beta of 1.74.

Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, topping 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 net margin of 0.73% and a return on equity of 21.99%. The firm's revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 EPS. As a group, research analysts anticipate that Macy's, Inc. will post 2.39 EPS for the current year.

Macy's Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.1824 dividend. This represents a $0.73 annualized dividend and a yield of 6.15%. The ex-dividend date of this dividend is Friday, June 13th. Macy's's payout ratio is presently 37.06%.

About Macy's

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.