Bayforest Capital Ltd Acquires Shares of 57,345 Macy's, Inc. (NYSE:M)

Key Points

• Bayforest Capital Ltd made a significant investment in Macy's, acquiring 57,345 shares valued at approximately $720,000 in the first quarter.
• Macy's reported earnings of $0.16 per share for the last quarter, exceeding analysts' expectations, despite a 5.1% decline in year-over-year revenue.
• The company has announced a quarterly dividend of $0.1824 per share, reflecting an annualized dividend yield of 5.48%.

Bayforest Capital Ltd purchased a new position in shares of Macy's, Inc. (NYSE:M - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 57,345 shares of the company's stock, valued at approximately $720,000.

Several other large investors also recently modified their holdings of the stock. Coldstream Capital Management Inc. boosted its holdings in Macy's by 4.9% in the 4th quarter. Coldstream Capital Management Inc. now owns 15,442 shares of the company's stock worth $261,000 after buying an additional 717 shares during the period. Treasurer of the State of North Carolina boosted its holdings in Macy's by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 120,414 shares of the company's stock worth $2,039,000 after buying an additional 760 shares during the period. Quantinno Capital Management LP boosted its holdings in Macy's by 0.9% in the 4th quarter. Quantinno Capital Management LP now owns 102,538 shares of the company's stock worth $1,736,000 after buying an additional 872 shares during the period. ProShare Advisors LLC boosted its holdings in Macy's by 7.7% in the 4th quarter. ProShare Advisors LLC now owns 12,978 shares of the company's stock worth $220,000 after buying an additional 924 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its holdings in Macy's by 0.5% in the 1st quarter. Crossmark Global Holdings Inc. now owns 205,492 shares of the company's stock worth $2,581,000 after buying an additional 959 shares during the period. Hedge funds and other institutional investors own 87.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Telsey Advisory Group cut 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 report on Thursday, May 29th. 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 report on Monday. Barclays assumed coverage on shares of Macy's in a report on Monday, April 28th. They issued a "cautious" rating and a $12.00 price target for the company. Citigroup reissued a "neutral" rating and issued a $12.00 price target (up from $11.00) on shares of Macy's in a report on Thursday, May 29th. Finally, The Goldman Sachs Group downgraded shares of Macy's from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $17.00 to $12.00 in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Macy's has a consensus rating of "Hold" and a consensus target price of $13.22.

Macy's Trading Down 2.2%

NYSE:M traded down $0.28 during trading hours on Friday, reaching $12.35. The company's stock had a trading volume of 6,583,339 shares, compared to its average volume of 6,751,891. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 6.27 and a beta of 1.79. The firm has a 50-day simple moving average of $12.06 and a 200-day simple moving average of $12.76. Macy's, Inc. has a 1 year low of $9.76 and a 1 year high of $18.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.37 and a current ratio of 1.43.

Macy's (NYSE:M - Get Free Report) last issued its earnings results on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.01. The company had revenue of $4.60 billion for the quarter, compared to analysts' expectations of $4.38 billion. Macy's had a net margin of 2.45% and a return on equity of 16.34%. The firm's revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 EPS. Research analysts expect that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Macy's Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a $0.1824 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.9%. 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.