Bayforest Capital Ltd Invests $720,000 in Macy’s, Inc. (NYSE:M)

Bayforest Capital Ltd bought a new position in shares of Macy’s, Inc. (NYSE:M) in the 1st quarter, HoldingsChannel reports. The fund bought 57,345 shares of the company’s stock, valued at approximately $720,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in M. Dimensional Fund Advisors LP lifted its position in shares of Macy’s by 7.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,751,211 shares of the company’s stock worth $266,666,000 after buying an additional 1,149,454 shares in the last quarter. Cooper Creek Partners Management LLC lifted its position in shares of Macy’s by 26.2% during the 4th quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company’s stock worth $132,701,000 after buying an additional 1,627,572 shares in the last quarter. FMR LLC lifted its position in shares of Macy’s by 59.9% during the 4th quarter. FMR LLC now owns 7,503,742 shares of the company’s stock worth $127,038,000 after buying an additional 2,812,151 shares in the last quarter. RWC Asset Management LLP bought a new position in shares of Macy’s during the 1st quarter worth approximately $80,868,000. Finally, Norges Bank bought a new position in shares of Macy’s during the 4th quarter worth approximately $96,689,000. 87.36% of the stock is owned by institutional investors.

Macy’s Stock Down 3.0%

M opened at $13.32 on Wednesday. The company has a 50 day moving average of $12.00 and a 200 day moving average of $12.78. The company has a market cap of $3.62 billion, a PE ratio of 6.76 and a beta of 1.71. Macy’s, Inc. has a 12 month low of $9.76 and a 12 month high of $18.13. 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) last released its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.38 billion. Macy’s had a net margin of 2.45% and a return on equity of 16.34%. Macy’s’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period last year, the firm earned $0.27 EPS. On average, sell-side analysts expect that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a $0.1824 dividend. This represents a $0.73 annualized dividend and a yield of 5.48%. The ex-dividend date of this dividend was Friday, June 13th. Macy’s’s dividend payout ratio (DPR) is presently 37.06%.

Analysts Set New Price Targets

M has been the topic of several recent analyst reports. Morgan Stanley reissued a “negative” rating on shares of Macy’s in a research report on Tuesday, May 6th. Barclays started coverage on Macy’s in a research note on Monday, April 28th. They issued a “cautious” rating and a $12.00 price objective on the stock. Citigroup reissued a “neutral” rating and set a $12.00 price objective (up from $11.00) on shares of Macy’s in a report on Thursday, May 29th. Telsey Advisory Group reduced their price objective on Macy’s from $15.00 to $14.00 and set a “market perform” rating for the company in a report on Thursday, May 29th. Finally, The Goldman Sachs Group lowered Macy’s from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $17.00 to $12.00 in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.22.

Macy’s Company 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.