Trexquant Investment LP Purchases Shares of 189,635 Macy’s, Inc. (NYSE:M)

Trexquant Investment LP acquired a new stake in Macy’s, Inc. (NYSE:M) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 189,635 shares of the company’s stock, valued at approximately $3,815,000. Trexquant Investment LP owned about 0.07% of Macy’s as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of M. Fifth Third Bancorp raised its position in shares of Macy’s by 221.4% in the 3rd quarter. Fifth Third Bancorp now owns 3,506 shares of the company’s stock valued at $41,000 after purchasing an additional 2,415 shares during the last quarter. M&T Bank Corp raised its position in Macy’s by 27.4% during the 3rd quarter. M&T Bank Corp now owns 25,764 shares of the company’s stock worth $299,000 after buying an additional 5,545 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Macy’s by 374.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 23,996 shares of the company’s stock worth $279,000 after buying an additional 18,941 shares during the last quarter. Signaturefd LLC raised its position in Macy’s by 31.1% during the 3rd quarter. Signaturefd LLC now owns 37,644 shares of the company’s stock worth $437,000 after buying an additional 8,920 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Macy’s by 1,906.1% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 7,222 shares of the company’s stock worth $84,000 after buying an additional 6,862 shares during the last quarter. 87.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Jeffrey Gennette sold 30,090 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $19.66, for a total transaction of $591,569.40. Following the sale, the director now directly owns 1,073,699 shares in the company, valued at $21,108,922.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Danielle L. Kirgan sold 15,070 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total value of $307,729.40. Following the completion of the sale, the executive vice president now directly owns 306,555 shares of the company’s stock, valued at $6,259,853.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey Gennette sold 30,090 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $19.66, for a total value of $591,569.40. Following the completion of the sale, the director now directly owns 1,073,699 shares of the company’s stock, valued at $21,108,922.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 218,424 shares of company stock worth $4,405,507. Company insiders own 2.77% of the company’s stock.

Macy’s Stock Down 0.3 %

NYSE M opened at $20.06 on Friday. Macy’s, Inc. has a 52 week low of $10.54 and a 52 week high of $22.10. The company has a quick ratio of 0.39, a current ratio of 1.38 and a debt-to-equity ratio of 0.72. The business’s fifty day simple moving average is $19.47 and its 200-day simple moving average is $18.50. The firm has a market cap of $5.52 billion, a PE ratio of 668.67 and a beta of 2.16.

Macy’s (NYSE:M) last posted its earnings results on Tuesday, May 21st. The company reported $0.27 EPS for the quarter, beating 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 analysts’ expectations of $4.82 billion. During the same quarter in the prior year, the company posted $0.56 earnings per share. Macy’s’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that Macy’s, Inc. will post 2.66 earnings per share for the current year.

Macy’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.1737 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.46%. Macy’s’s payout ratio is 2,300.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research note on Tuesday. Morgan Stanley dropped their price objective on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 28th. StockNews.com assumed coverage on shares of Macy’s in a research note on Saturday, May 18th. They set a “hold” rating on the stock. Citigroup raised shares of Macy’s from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $14.00 to $18.00 in a research note on Friday, February 2nd. Finally, The Goldman Sachs Group raised their price objective on shares of Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.73.

Macy’s 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.