iSAM Funds UK Ltd Makes New $200,000 Investment in Macy’s, Inc. (NYSE:M)

iSAM Funds UK Ltd bought a new position in Macy’s, Inc. (NYSE:M) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 11,820 shares of the company’s stock, valued at approximately $200,000.

Other hedge funds have also bought and sold shares of the company. Trifecta Capital Advisors LLC purchased a new stake in shares of Macy’s during the 4th quarter valued at about $34,000. Jones Financial Companies Lllp increased its position in shares of Macy’s by 82.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after purchasing an additional 969 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Macy’s during the 4th quarter valued at about $38,000. Bessemer Group Inc. increased its position in shares of Macy’s by 495.5% during the 4th quarter. Bessemer Group Inc. now owns 3,412 shares of the company’s stock valued at $58,000 after purchasing an additional 2,839 shares during the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in shares of Macy’s during the 4th quarter valued at about $111,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Macy’s Trading Down 3.8%

Macy’s stock opened at $11.64 on Thursday. The firm has a 50 day moving average of $11.94 and a 200 day moving average of $14.22. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 19.72 and a beta of 1.77. Macy’s, Inc. has a 12-month low of $9.76 and a 12-month high of $20.70. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.25. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The business had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.76 billion. As a group, research analysts predict that Macy’s, Inc. will post 2.39 earnings per share for the current year.

Macy’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.1824 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.73 annualized dividend and a yield of 6.27%. Macy’s’s payout ratio is 35.44%.

Analysts Set New Price Targets

M has been the subject of several research reports. Gordon Haskett lowered shares of Macy’s from an “accumulate” rating to a “hold” rating in a research report on Thursday, March 6th. Barclays initiated coverage on shares of Macy’s in a research report on Monday, April 28th. They set a “cautious” rating and a $12.00 price target for the company. Benchmark raised shares of Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Macy’s from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.00.

Insiders Place Their Bets

In other news, EVP Tracy M. Preston sold 2,780 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $12.68, for a total transaction of $35,250.40. Following the completion of the transaction, the executive vice president now directly owns 4,723 shares in the company, valued at approximately $59,887.64. This represents a 37.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Antony Spring sold 20,868 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $12.68, for a total value of $264,606.24. Following the transaction, the chief executive officer now owns 321,244 shares of the company’s stock, valued at $4,073,373.92. This represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,751 shares of company stock worth $537,790 in the last three months. 1.09% of the stock is owned by company insiders.

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.