Trexquant Investment LP Invests $22.06 Million in Macy’s, Inc. $M

Trexquant Investment LP acquired a new stake in shares of Macy’s, Inc. (NYSE:M) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 1,756,295 shares of the company’s stock, valued at approximately $22,059,000. Trexquant Investment LP owned approximately 0.63% of Macy’s as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of M. Summit Securities Group LLC lifted its holdings in shares of Macy’s by 106.0% during the first quarter. Summit Securities Group LLC now owns 2,200 shares of the company’s stock valued at $28,000 after purchasing an additional 38,800 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Macy’s during the first quarter valued at approximately $29,000. Raiffeisen Bank International AG purchased a new position in shares of Macy’s during the fourth quarter valued at approximately $111,000. Versant Capital Management Inc lifted its holdings in shares of Macy’s by 343.4% during the first quarter. Versant Capital Management Inc now owns 9,449 shares of the company’s stock valued at $119,000 after purchasing an additional 7,318 shares during the last quarter. Finally, Forum Financial Management LP purchased a new position in shares of Macy’s during the fourth quarter valued at approximately $177,000. 87.36% of the stock is owned by institutional investors.

Macy’s Trading Up 2.0%

NYSE:M opened at $13.63 on Thursday. 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, Inc. has a 12 month low of $9.76 and a 12 month high of $18.13. The company has a market cap of $3.70 billion, a PE ratio of 6.92 and a beta of 1.79. The company has a 50 day simple moving average of $12.41 and a two-hundred day simple moving average of $12.50.

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

Macy’s Dividend Announcement

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

Analysts Set New Price Targets

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

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.