Oak Thistle LLC Has $239,000 Stock Holdings in Macy’s, Inc. (NYSE:M)

Oak Thistle LLC decreased its holdings in shares of Macy’s, Inc. (NYSE:M) by 64.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,944 shares of the company’s stock after selling 21,458 shares during the period. Oak Thistle LLC’s holdings in Macy’s were worth $239,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in M. Norges Bank bought a new stake in Macy’s in the 4th quarter valued at about $62,529,000. Vanguard Group Inc. increased its holdings in shares of Macy’s by 7.8% during the third quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock valued at $422,390,000 after acquiring an additional 2,645,577 shares in the last quarter. Deutsche Bank AG raised its position in shares of Macy’s by 260.8% during the third quarter. Deutsche Bank AG now owns 2,547,529 shares of the company’s stock worth $29,577,000 after purchasing an additional 1,841,432 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Macy’s by 48.9% in the 3rd quarter. AQR Capital Management LLC now owns 5,272,297 shares of the company’s stock worth $61,211,000 after purchasing an additional 1,730,307 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Macy’s by 15.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,398,149 shares of the company’s stock valued at $249,456,000 after purchasing an additional 1,685,986 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Stock Performance

M stock traded down $0.95 during midday trading on Monday, hitting $18.25. The company’s stock had a trading volume of 5,244,260 shares, compared to its average volume of 6,661,701. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 608.33 and a beta of 2.18. The company has a quick ratio of 0.35, a current ratio of 1.38 and a debt-to-equity ratio of 0.72. The stock’s 50-day moving average price is $19.07 and its 200 day moving average price is $19.28. Macy’s, Inc. has a 1 year low of $10.54 and a 1 year high of $22.10.

Macy’s (NYSE:M) last issued its quarterly earnings results on Tuesday, May 21st. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the previous year, the firm earned $0.56 EPS. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities analysts forecast that Macy’s, Inc. will post 2.79 EPS for the current year.

Macy’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.1737 per share. The ex-dividend date is Friday, June 14th. This represents a $0.69 annualized dividend and a dividend yield of 3.81%. Macy’s’s payout ratio is currently 2,300.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Macy’s from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. Telsey Advisory Group reissued a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a research note on Tuesday, May 21st. TD Cowen lifted their target price on Macy’s from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday, May 22nd. Finally, StockNews.com assumed coverage on Macy’s in a research report on Thursday. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $17.70.

About Macy’s

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.