Oak Thistle LLC Invests $3.33 Million in Macy’s, Inc. $M

Oak Thistle LLC acquired a new stake in Macy’s, Inc. (NYSE:M) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 185,874 shares of the company’s stock, valued at approximately $3,333,000. Macy’s makes up 0.5% of Oak Thistle LLC’s holdings, making the stock its 25th biggest holding.

Several other hedge funds have also recently bought and sold shares of M. Summit Securities Group LLC boosted its holdings in Macy’s by 106.0% during the 1st quarter. Summit Securities Group LLC now owns 2,200 shares of the company’s stock valued at $28,000 after acquiring an additional 38,800 shares during the period. UMB Bank n.a. lifted its position in shares of Macy’s by 523.0% during the second quarter. UMB Bank n.a. now owns 3,171 shares of the company’s stock worth $37,000 after purchasing an additional 2,662 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Macy’s by 28.7% in the second quarter. Fifth Third Bancorp now owns 4,876 shares of the company’s stock valued at $57,000 after purchasing an additional 1,087 shares during the period. GAMMA Investing LLC grew its holdings in shares of Macy’s by 116.2% in the second quarter. GAMMA Investing LLC now owns 7,590 shares of the company’s stock valued at $88,000 after purchasing an additional 4,080 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Macy’s by 147.8% during the 2nd quarter. Parallel Advisors LLC now owns 8,332 shares of the company’s stock worth $97,000 after buying an additional 4,970 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Stock Down 3.0%

Macy’s stock opened at $23.11 on Wednesday. Macy’s, Inc. has a 1-year low of $9.76 and a 1-year high of $24.41. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.25 and a quick ratio of 0.18. The stock has a market cap of $6.15 billion, a PE ratio of 13.68 and a beta of 1.44. The stock’s fifty day moving average is $20.30 and its two-hundred day moving average is $16.05.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, December 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.22. Macy’s had a return on equity of 15.57% and a net margin of 2.10%.The business had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.52 billion. During the same period in the prior year, the firm posted $0.04 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. On average, sell-side analysts expect that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be paid a $0.1824 dividend. This represents a $0.73 annualized dividend and a yield of 3.2%. The ex-dividend date is Monday, December 15th. Macy’s’s dividend payout ratio is currently 43.20%.

Analyst Upgrades and Downgrades

Several brokerages have commented on M. Guggenheim began coverage on shares of Macy’s in a research report on Tuesday, December 9th. They issued a “neutral” rating for the company. Cowen reiterated a “hold” rating on shares of Macy’s in a report on Thursday, December 4th. Morgan Stanley boosted their target price on Macy’s from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Friday, December 5th. Zacks Research raised Macy’s from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 18th. Finally, Barclays lifted their price objective on Macy’s from $12.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.50.

Insiders Place Their Bets

In other Macy’s news, EVP Danielle L. Kirgan sold 85,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $23.92, for a total transaction of $2,033,200.00. Following the sale, the executive vice president owned 51,161 shares of the company’s stock, valued at approximately $1,223,771.12. This trade represents a 62.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.77% of the company’s stock.

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.