Jump Financial LLC Buys New Position in Macy's, Inc. $M

Key Points

• Jump Financial LLC has acquired a new position in Macy's, Inc., purchasing 299,969 shares valued at approximately $3.77 million, representing about 0.11% ownership in the company.
• Macy's reported a net margin of 2.45% with a revenue of $4.60 billion for the last quarter, exceeding analyst expectations of $4.38 billion.
• The company announced a quarterly dividend of $0.1824 per share, reflecting a dividend yield of 5.5% and a payout ratio of 37.06%.

Jump Financial LLC bought a new stake in Macy's, Inc. (NYSE:M - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 299,969 shares of the company's stock, valued at approximately $3,768,000. Jump Financial LLC owned approximately 0.11% of Macy's at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Summit Securities Group LLC raised 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 purchasing an additional 38,800 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Macy's in the first quarter valued at approximately $29,000. Raiffeisen Bank International AG purchased a new stake in Macy's in the fourth quarter valued at approximately $111,000. Versant Capital Management Inc raised 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 purchasing an additional 7,318 shares in the last quarter. Finally, Forum Financial Management LP purchased a new stake in Macy's in the fourth quarter valued at approximately $177,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

Macy's Trading Down 2.1%

M stock opened at $13.29 on Tuesday. The company has a market capitalization of $3.61 billion, a PE ratio of 6.75 and a beta of 1.79. Macy's, Inc. has a one year low of $9.76 and a one year high of $18.13. The company's 50 day moving average price is $12.32 and its two-hundred day moving average price is $12.49. 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 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $4.38 billion. During the same quarter last year, the business earned $0.27 earnings per share. The business's revenue was down 5.1% on a year-over-year basis. Macy's has set its FY 2025 guidance at 1.600-2.000 EPS. As a group, analysts predict that Macy's, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy's Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued 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 currently 37.06%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on M shares. Morgan Stanley reaffirmed a "negative" rating on shares of Macy's in a research note on Tuesday, May 6th. Telsey Advisory Group decreased 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 research note on Thursday, May 29th. JPMorgan Chase & Co. lifted their price target on shares of Macy's from $12.00 to $16.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Barclays began coverage on shares of Macy's in a research note on Monday, April 28th. They set a "cautious" rating and a $12.00 price target on the stock. Finally, Citigroup reissued a "neutral" rating and set a $12.00 price target (up from $11.00) on shares of Macy's in a research note on Thursday, May 29th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $13.22.

Macy's 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.

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