Islay Capital Management LLC Invests $1.30 Million in Macy's, Inc. (NYSE:M)

Islay Capital Management LLC purchased a new stake in shares of Macy's, Inc. (NYSE:M - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 64,647 shares of the company's stock, valued at approximately $1,301,000. Macy's accounts for approximately 1.0% of Islay Capital Management LLC's holdings, making the stock its 27th biggest holding.

Several other institutional investors have also recently made changes to their positions in the company. SummerHaven Investment Management LLC raised its position in Macy's by 1.3% in the fourth quarter. SummerHaven Investment Management LLC now owns 43,046 shares of the company's stock valued at $866,000 after purchasing an additional 554 shares during the period. Yousif Capital Management LLC grew its stake in shares of Macy's by 0.6% in the fourth quarter. Yousif Capital Management LLC now owns 140,135 shares of the company's stock worth $2,820,000 after acquiring an additional 841 shares in the last quarter. CWM LLC grew its stake in shares of Macy's by 13.9% in the fourth quarter. CWM LLC now owns 7,587 shares of the company's stock worth $153,000 after acquiring an additional 924 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of Macy's by 253.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company's stock worth $26,000 after acquiring an additional 944 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of Macy's by 25.5% in the third quarter. Covestor Ltd now owns 4,763 shares of the company's stock worth $55,000 after acquiring an additional 969 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company's stock.

Macy's Stock Performance

NYSE M traded down $0.13 during trading hours on Tuesday, hitting $18.43. 3,318,481 shares of the stock were exchanged, compared to its average volume of 7,715,249. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 49.81 and a beta of 2.15. Macy's, Inc. has a 12-month low of $10.54 and a 12-month high of $22.10. The stock has a 50-day moving average of $19.61 and a 200 day moving average of $17.62. The company has a quick ratio of 0.39, a current ratio of 1.37 and a debt-to-equity ratio of 0.72.

Macy's (NYSE:M - Get Free Report) last issued its earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.47. Macy's had a net margin of 0.45% and a return on equity of 23.34%. The company had revenue of $8.12 billion during the quarter, compared to analysts' expectations of $8.07 billion. During the same period last year, the company posted $1.88 earnings per share. The firm's quarterly revenue was down 1.7% compared to the same quarter last year. As a group, equities research analysts forecast that Macy's, Inc. will post 2.57 earnings per share for the current year.

Macy's Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.1737 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from Macy's's previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a dividend yield of 3.77%. Macy's's dividend payout ratio is currently 186.49%.

Analyst Upgrades and Downgrades

M has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Macy's in a research note on Wednesday, April 24th. They set a "hold" rating for the company. Telsey Advisory Group reiterated a "market perform" rating and set a $21.00 target price on shares of Macy's in a research note on Thursday, March 28th. TD Cowen downgraded shares of Macy's from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $23.00 to $20.00 in a research note on Thursday, February 29th. The Goldman Sachs Group boosted their target price on shares of Macy's from $16.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday, February 28th. Finally, Citigroup upgraded shares of Macy's from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $14.00 to $18.00 in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $17.45.

Insider Activity

In other news, SVP Paul Griscom sold 2,969 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.43, for a total value of $60,656.67. Following the sale, the senior vice president now directly owns 21,436 shares in the company, valued at $437,937.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Paul Griscom sold 2,969 shares of the firm's stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.43, for a total transaction of $60,656.67. Following the sale, the senior vice president now owns 21,436 shares in the company, valued at $437,937.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Danielle L. Kirgan sold 15,070 shares of the firm's stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $307,729.40. Following the sale, the executive vice president now owns 306,555 shares in the company, valued at approximately $6,259,853.10. The disclosure for this sale can be found here. Insiders have sold 218,424 shares of company stock worth $4,405,507 over the last ninety days. 1.52% of the stock is currently owned by insiders.

Macy's Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.