Trexquant Investment LP Acquires Shares of 1,756,295 Macy's, Inc. $M

Key Points

• Trexquant Investment LP has invested $22.06 million in Macy's, acquiring 1,756,295 shares, amounting to approximately 0.63% ownership of the company.
• Macy's recently reported an earnings per share (EPS) of $0.16 for the last quarter, slightly above analysts' expectations of $0.15, despite a 5.1% revenue decline year-over-year.
• The company has announced a quarterly dividend of $0.1824 per share, representing an annualized dividend yield of 5.4% and a payout ratio of 37.06%.

Trexquant Investment LP purchased a new position in shares of Macy's, Inc. (NYSE:M - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,756,295 shares of the company's stock, valued at approximately $22,059,000. Trexquant Investment LP owned 0.63% of Macy's as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Eisler Capital Management Ltd. bought a new stake in Macy's in the first quarter valued at approximately $996,000. Ieq Capital LLC increased its holdings in shares of Macy's by 360.3% during the 1st quarter. Ieq Capital LLC now owns 193,666 shares of the company's stock worth $2,432,000 after acquiring an additional 151,595 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Macy's by 16.2% during the 1st quarter. Gamco Investors INC. ET AL now owns 16,500 shares of the company's stock worth $207,000 after acquiring an additional 2,300 shares during the last quarter. Jump Financial LLC acquired a new stake in Macy's during the 1st quarter valued at $3,768,000. Finally, Hsbc Holdings PLC lifted its holdings in Macy's by 173.9% during the 1st quarter. Hsbc Holdings PLC now owns 85,939 shares of the company's stock valued at $1,087,000 after purchasing an additional 54,558 shares during the last quarter. 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 Friday, reaching $13.24. 8,366,883 shares of the stock were exchanged, compared to its average volume of 6,632,644. Macy's, Inc. has a 12 month low of $9.76 and a 12 month high of $18.13. The firm has a market cap of $3.59 billion, a PE ratio of 6.72 and a beta of 1.79. The stock has a 50-day moving average price of $12.50 and a 200-day moving average price of $12.47. The company has a current ratio of 1.43, a quick ratio of 0.37 and a debt-to-equity ratio of 0.62.

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

Macy's Announces Dividend

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

Wall Street Analysts Forecast Growth

M has been the topic of several research reports. Citigroup reiterated a "neutral" rating and issued a $12.00 price objective (up from $11.00) on shares of Macy's in a report on Thursday, May 29th. Telsey Advisory Group reiterated a "market perform" rating and issued a $14.00 price objective on shares of Macy's in a report on Wednesday. Morgan Stanley reiterated a "negative" rating on shares of Macy's in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Macy's from $12.00 to $16.00 and gave the company a "neutral" rating in a report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average 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.