Polymer Capital Management US LLC Acquires Shares of 10,851 Macy’s, Inc. (NYSE:M)

Polymer Capital Management US LLC purchased a new stake in Macy’s, Inc. (NYSE:M) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,851 shares of the company’s stock, valued at approximately $184,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Trifecta Capital Advisors LLC purchased a new position in Macy’s during the fourth quarter worth about $34,000. Jones Financial Companies Lllp increased its holdings 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 worth $36,000 after buying 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 approximately $38,000. Tompkins Financial Corp acquired a new position in Macy’s in the fourth quarter valued at approximately $102,000. Finally, Vestcor Inc purchased a new position in Macy’s in the fourth quarter worth approximately $115,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analyst Upgrades and Downgrades

M has been the topic of a number of research analyst reports. Guggenheim restated a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $15.00 target price on shares of Macy’s in a research report on Wednesday, April 2nd. Benchmark upgraded shares of Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. The Goldman Sachs Group reduced their price target on shares of Macy’s from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Finally, Morgan Stanley set a $14.00 target price on Macy’s in a research report on Monday, March 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Macy’s has an average rating of “Hold” and an average target price of $15.30.

Macy’s Trading Down 8.3 %

NYSE:M opened at $9.95 on Wednesday. Macy’s, Inc. has a 12-month low of $9.76 and a 12-month high of $20.70. The firm has a market cap 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 stock has a fifty day moving average price of $13.84 and a 200 day moving average price of $15.08.

Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $7.76 billion. Sell-side analysts anticipate that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

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

Insider Transactions at Macy’s

In other news, CEO Antony Spring sold 20,868 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 321,244 shares in the company, valued at approximately $4,073,373.92. This represents a 6.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 directly owns 116,165 shares of the company’s stock, valued at approximately $1,596,107.10. This trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,751 shares of company stock valued at $537,790. Insiders own 2.77% of the company’s stock.

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.