Islay Capital Management LLC Acquires New Stake in Macy’s, Inc. (NYSE:M)

Islay Capital Management LLC acquired a new stake in Macy’s, Inc. (NYSE:M) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 64,647 shares of the company’s stock, valued at approximately $1,301,000. Macy’s makes up about 1.0% of Islay Capital Management LLC’s portfolio, making the stock its 27th biggest holding.

Several other institutional investors have also added to or reduced their stakes in the stock. SummerHaven Investment Management LLC lifted its position in Macy’s by 1.3% in the 4th quarter. SummerHaven Investment Management LLC now owns 43,046 shares of the company’s stock valued at $866,000 after acquiring an additional 554 shares in the last quarter. Retirement Systems of Alabama lifted its position in Macy’s by 0.5% during the 4th quarter. Retirement Systems of Alabama now owns 498,612 shares of the company’s stock worth $10,032,000 after buying an additional 2,428 shares in the last quarter. Atria Wealth Solutions Inc. bought a new stake in Macy’s during the 4th quarter worth about $210,000. Harvest Fund Management Co. Ltd lifted its position in Macy’s by 1,911.3% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,560 shares of the company’s stock worth $72,000 after buying an additional 3,383 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its position in Macy’s by 0.6% during the 4th quarter. Yousif Capital Management LLC now owns 140,135 shares of the company’s stock worth $2,820,000 after buying an additional 841 shares in the last quarter. 87.36% of the stock is owned by institutional investors.

Insider Activity at Macy’s

In related news, SVP Paul Griscom sold 2,969 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $20.43, for a total transaction of $60,656.67. Following the completion of the sale, the senior vice president now directly owns 21,436 shares in the company, valued at approximately $437,937.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Macy’s news, SVP Paul Griscom sold 2,969 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $20.43, for a total value of $60,656.67. Following the completion of the transaction, the senior vice president now directly owns 21,436 shares in the company, valued at approximately $437,937.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Adrian V. Mitchell sold 13,249 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $270,544.58. Following the completion of the transaction, the chief financial officer now owns 99,098 shares of the company’s stock, valued at $2,023,581.16. The disclosure for this sale can be found here. Insiders sold 218,424 shares of company stock worth $4,405,507 in the last three months. 1.52% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on M shares. JPMorgan Chase & Co. upped their target price on shares of Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, March 18th. TD Cowen lowered shares of Macy’s from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $23.00 to $20.00 in a research note on Thursday, February 29th. StockNews.com began coverage on shares of Macy’s in a research note on Wednesday, April 24th. They issued a “hold” rating on the stock. The Goldman Sachs Group increased their target price on shares of Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Finally, Morgan Stanley decreased their target price on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Macy’s presently has a consensus rating of “Hold” and an average target price of $17.45.

Macy’s Stock Performance

M stock traded down $0.08 during mid-day trading on Tuesday, hitting $18.48. The company had a trading volume of 1,723,276 shares, compared to its average volume of 7,695,434. The firm has a market cap of $5.08 billion, a PE ratio of 50.18 and a beta of 2.15. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.39 and a current ratio of 1.37. Macy’s, Inc. has a 12 month low of $10.54 and a 12 month high of $22.10. The stock’s fifty day moving average price is $19.61 and its two-hundred day moving average price is $17.62.

Macy’s (NYSE:M) last released its quarterly earnings results on Tuesday, February 27th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.47. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The business had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $8.07 billion. During the same quarter in the previous year, the company earned $1.88 EPS. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, analysts forecast that Macy’s, Inc. will post 2.57 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.1737 dividend. This is a boost from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.76%. Macy’s’s dividend payout ratio is 186.49%.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.