Eisler Capital Management Ltd. Acquires New Shares in Macy's, Inc. $M

Key Points

• Eisler Capital Management Ltd. has acquired a new stake in Macy's, purchasing 79,270 shares valued at approximately $996,000 during the first quarter.
• Macy's reported earnings of $0.16 per share for the latest quarter, exceeding analyst expectations, despite a 5.1% decrease in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.1824 per share, resulting in an annualized yield of 5.4%, with a payout ratio of 37.06%.

Eisler Capital Management Ltd. bought 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 disclosure with the Securities & Exchange Commission. The firm bought 79,270 shares of the company's stock, valued at approximately $996,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Summit Securities Group LLC grew its stake in Macy's by 106.0% in the first quarter. Summit Securities Group LLC now owns 2,200 shares of the company's stock valued at $28,000 after acquiring an additional 38,800 shares during the period. Headlands Technologies LLC acquired a new stake in Macy's in the first quarter valued at approximately $29,000. Raiffeisen Bank International AG acquired a new stake in Macy's in the fourth quarter valued at approximately $111,000. Versant Capital Management Inc grew its stake in Macy's by 343.4% in the first quarter. Versant Capital Management Inc now owns 9,449 shares of the company's stock valued at $119,000 after acquiring an additional 7,318 shares during the period. Finally, Kingswood Wealth Advisors LLC acquired a new stake in Macy's in the first quarter valued at approximately $142,000. Institutional investors and hedge funds own 87.36% of the company's stock.

Macy's Stock Performance

Shares of NYSE M traded down $0.13 during trading on Monday, reaching $13.24. 8,366,883 shares of the stock traded hands, compared to its average volume of 6,722,180. The stock has a market capitalization of $3.59 billion, a P/E ratio of 6.72 and a beta of 1.78. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.43 and a quick ratio of 0.37. The company has a 50-day moving average of $12.50 and a 200-day moving average of $12.45. Macy's, Inc. has a 52-week low of $9.76 and a 52-week high of $18.13.

Macy's Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a $0.1824 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.73 annualized dividend and a dividend yield of 5.5%. Macy's's dividend payout ratio (DPR) is presently 37.06%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Telsey Advisory Group reaffirmed a "market perform" rating and set a $14.00 target price on shares of Macy's in a research report on Wednesday, August 27th. Morgan Stanley reaffirmed a "negative" rating on shares of Macy's in a research report on Tuesday, May 6th. Citigroup reaffirmed a "neutral" rating and set a $12.00 target price (up previously from $11.00) on shares of Macy's in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. lifted their target price on Macy's from $12.00 to $16.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $13.22.

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.