Polymer Capital Management US LLC Takes $184,000 Position in Macy’s, Inc. (NYSE:M)

Polymer Capital Management US LLC bought a new stake in Macy’s, Inc. (NYSE:M) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 10,851 shares of the company’s stock, valued at approximately $184,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Trifecta Capital Advisors LLC acquired a new position in shares of Macy’s during the 4th quarter worth approximately $34,000. Jones Financial Companies Lllp raised its holdings in shares of Macy’s by 82.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after acquiring an additional 969 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Macy’s in the fourth quarter valued at $38,000. Tompkins Financial Corp acquired a new stake in shares of Macy’s during the fourth quarter valued at $102,000. Finally, Vestcor Inc acquired a new position in Macy’s in the 4th quarter valued at about $115,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

M has been the subject of a number of recent research reports. StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. Telsey Advisory Group reissued a “market perform” rating and set a $15.00 price target on shares of Macy’s in a research note on Wednesday, April 2nd. New Street Research set a $13.00 price objective on Macy’s in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. downgraded Macy’s from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $19.00 to $14.00 in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.30.

Macy’s Price Performance

Shares of M stock opened at $9.95 on Wednesday. Macy’s, Inc. has a twelve month low of $9.76 and a twelve month high of $20.70. The company has a market capitalization of $2.77 billion, a PE ratio of 16.87 and a beta of 1.73. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The firm has a fifty day simple moving average of $13.84 and a 200-day simple moving average of $15.08.

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

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.1824 dividend. This represents a $0.73 dividend on an annualized basis and a dividend yield of 7.33%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s payout ratio is 35.44%.

Insider Buying and Selling at Macy’s

In other Macy’s news, EVP Adrian V. Mitchell sold 3,489 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total transaction of $47,938.86. Following the completion of the sale, the executive vice president now owns 116,165 shares in the company, valued at $1,596,107.10. The trade was a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Antony Spring sold 3,124 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $42,923.76. Following the completion of the transaction, the chief executive officer now owns 272,680 shares in the company, valued at approximately $3,746,623.20. The trade was a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,751 shares of company stock worth $537,790 in the last ninety days. 2.77% of the stock is owned by insiders.

Macy’s 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.