Eisler Capital Management Ltd. Makes New Investment in Macy’s, Inc. $M

Eisler Capital Management Ltd. bought a new position in Macy’s, Inc. (NYSE:M) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 79,270 shares of the company’s stock, valued at approximately $996,000.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Macy’s in the fourth quarter worth approximately $624,000. Hsbc Holdings PLC boosted its holdings in Macy’s by 17.2% in the fourth quarter. Hsbc Holdings PLC now owns 31,381 shares of the company’s stock worth $531,000 after acquiring an additional 4,613 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Macy’s by 8.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 174,158 shares of the company’s stock worth $2,949,000 after acquiring an additional 13,275 shares in the last quarter. Voya Investment Management LLC boosted its holdings in Macy’s by 13.2% in the fourth quarter. Voya Investment Management LLC now owns 308,961 shares of the company’s stock worth $5,231,000 after acquiring an additional 36,012 shares in the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in Macy’s by 4.9% in the fourth quarter. Coldstream Capital Management Inc. now owns 15,442 shares of the company’s stock worth $261,000 after acquiring an additional 717 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors.

Macy’s Stock Performance

Shares of M opened at $13.63 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.37 and a current ratio of 1.43. The stock has a 50 day moving average price of $12.41 and a two-hundred day moving average price of $12.50. The firm has a market capitalization of $3.70 billion, a P/E ratio of 6.92 and a beta of 1.79. Macy’s, Inc. has a 52 week low of $9.76 and a 52 week high of $18.13.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.38 billion. Macy’s had a return on equity of 16.34% and a net margin of 2.45%.The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 EPS. Equities analysts forecast that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Monday, September 15th. Macy’s’s payout ratio is currently 37.06%.

Analysts Set New Price Targets

Several research analysts have issued reports on M shares. Citigroup reiterated a “neutral” rating and issued a $12.00 price target (up previously from $11.00) on shares of Macy’s in a report on Thursday, May 29th. JPMorgan Chase & Co. increased their price target on Macy’s from $12.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, July 28th. Telsey Advisory Group reiterated a “market perform” rating and issued a $14.00 price target on shares of Macy’s in a report on Wednesday. Finally, Morgan Stanley reiterated a “negative” rating on shares of Macy’s in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.22.

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.