Oak Thistle LLC Invests $640,000 in Macy's, Inc. (NYSE:M)

Oak Thistle LLC purchased a new stake in Macy's, Inc. (NYSE:M - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 50,962 shares of the company's stock, valued at approximately $640,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in M. Norges Bank bought a new stake in shares of Macy's during the 4th quarter worth about $96,689,000. Junto Capital Management LP bought a new stake in shares of Macy's during the 4th quarter worth about $48,775,000. FMR LLC boosted its holdings in 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 during the period. Marshall Wace LLP boosted its holdings in 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 during the period. Finally, Cooper Creek Partners Management LLC boosted its holdings in 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 during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

M has been the subject of several recent research reports. Telsey Advisory Group decreased their price target on shares of Macy's from $15.00 to $14.00 and set a "market perform" rating for the company in a research report on Thursday, May 29th. Citigroup restated a "neutral" rating and issued a $12.00 price target (up from $11.00) on shares of Macy's in a research report on Thursday, May 29th. Barclays initiated coverage on shares of Macy's in a research report on Monday, April 28th. They issued a "cautious" rating and a $12.00 price target for the company. Morgan Stanley restated a "negative" rating on shares of Macy's in a research report on Tuesday, May 6th. Finally, The Goldman Sachs Group lowered shares of Macy's from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $17.00 to $12.00 in a research note on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $12.78.

Macy's Stock Performance

M traded up $0.39 during midday trading on Friday, hitting $13.09. 6,730,074 shares of the company traded hands, compared to its average volume of 7,090,456. 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 firm has a market capitalization of $3.55 billion, a PE ratio of 6.64 and a beta of 1.71. The company's 50-day moving average is $11.94 and its 200 day moving average is $12.84. Macy's, Inc. has a 52 week low of $9.76 and a 52 week high of $18.13.

Macy's (NYSE:M - Get Free Report) last released its quarterly 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. Macy's had a net margin of 2.45% and a return on equity of 16.34%. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.38 billion. During the same quarter in the prior year, the firm earned $0.27 EPS. The business's revenue for the quarter was down 5.1% compared to the same quarter last year. On average, research analysts expect that Macy's, Inc. will post 2.39 EPS for the current year.

Macy's Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were given a dividend of $0.1824 per share. The ex-dividend date was Friday, June 13th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.58%. Macy's's dividend payout ratio is currently 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.