Oak Thistle LLC Sells 127,476 Shares of Macy's, Inc. $M

Key Points

• Oak Thistle LLC cut its stake in Macy's by 68.6% in Q4, selling 127,476 shares and leaving 58,398 shares valued at about $1.29 million.
• Macy's beat quarterly estimates, reporting $1.67 EPS vs. a $1.55 consensus and $7.92 billion in revenue (vs. $7.48B), although revenue was down 1.7% year‑over‑year.
• Dividend and market stance: Macy's raised its quarterly dividend to $0.1915 (annualized $0.77, ~4.0% yield) while analysts' consensus is cautious ("Reduce") with a $18.90 target and the stock trading near $19.15.

Oak Thistle LLC trimmed its stake in Macy's, Inc. (NYSE:M - Free Report) by 68.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,398 shares of the company's stock after selling 127,476 shares during the period. Oak Thistle LLC's holdings in Macy's were worth $1,288,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cullen Frost Bankers Inc. purchased a new stake in shares of Macy's in the third quarter worth approximately $31,000. Bessemer Group Inc. raised its holdings in shares of Macy's by 41.4% in the third quarter. Bessemer Group Inc. now owns 2,023 shares of the company's stock worth $37,000 after buying an additional 592 shares during the period. Hantz Financial Services Inc. raised its holdings in shares of Macy's by 101.1% in the third quarter. Hantz Financial Services Inc. now owns 2,311 shares of the company's stock worth $41,000 after buying an additional 1,162 shares during the period. CoreCap Advisors LLC raised its holdings in shares of Macy's by 7,265.6% in the fourth quarter. CoreCap Advisors LLC now owns 2,357 shares of the company's stock worth $52,000 after buying an additional 2,325 shares during the period. Finally, Quent Capital LLC purchased a new stake in shares of Macy's in the third quarter worth approximately $107,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Macy's Trading Up 4.4%

M opened at $19.15 on Friday. The stock's fifty day moving average is $19.46 and its two-hundred day moving average is $20.17. The company has a market capitalization of $5.05 billion, a P/E ratio of 8.26 and a beta of 1.51. Macy's, Inc. has a 52 week low of $10.54 and a 52 week high of $24.41. The company has a quick ratio of 0.50, a current ratio of 1.49 and a debt-to-equity ratio of 0.50.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings data on Wednesday, March 18th. The company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.55 by $0.12. The company had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.48 billion. Macy's had a return on equity of 14.22% and a net margin of 2.84%.Macy's's quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the business posted $1.80 EPS. Analysts forecast that Macy's, Inc. will post 2.39 earnings per share for the current year.

Macy's Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were issued a dividend of $0.1915 per share. This represents a $0.77 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, March 13th. This is an increase from Macy's's previous quarterly dividend of $0.18. Macy's's dividend payout ratio (DPR) is 33.19%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on M. Zacks Research downgraded Macy's from a "hold" rating to a "strong sell" rating in a report on Friday, March 13th. Jefferies Financial Group reiterated a "buy" rating and issued a $22.00 price target on shares of Macy's in a report on Wednesday, March 18th. JPMorgan Chase & Co. reduced their price target on Macy's from $24.00 to $21.00 and set a "neutral" rating on the stock in a report on Wednesday, March 18th. Weiss Ratings reiterated a "hold (c)" rating on shares of Macy's in a report on Friday, March 27th. Finally, TD Cowen reduced their price target on Macy's from $21.00 to $20.00 and set a "hold" rating on the stock in a report on Thursday, March 19th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Macy's has an average rating of "Reduce" and a consensus target price of $18.90.

Insider Transactions at Macy's

In other Macy's news, CEO Olivier Bron sold 7,228 shares of the firm's stock in a transaction on Monday, April 6th. The stock was sold at an average price of $17.92, for a total transaction of $129,525.76. Following the transaction, the chief executive officer directly owned 21,590 shares in the company, valued at $386,892.80. This trade represents a 25.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Tracy M. Preston sold 5,271 shares of the firm's stock in a transaction on Monday, April 6th. The stock was sold at an average price of $17.92, for a total value of $94,456.32. Following the transaction, the executive vice president owned 28,773 shares in the company, valued at $515,612.16. The trade was a 15.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 94,967 shares of company stock valued at $1,705,276. Company insiders own 1.09% of the company's stock.

Macy's Company Profile

Macy's, Inc is a leading American omnichannel retailer operating under the Macy's brand, as well as specialty divisions Bloomingdale's and Bluemercury. The company's retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy's seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company's product assortment spans men's, women's and children's clothing, beauty and personal care products, housewares and home décor.

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