Traders Buy Macy’s Inc (M) on Weakness

Investors bought shares of Macy’s Inc (NYSE:M) on weakness during trading on Friday. $84.48 million flowed into the stock on the tick-up and $67.68 million flowed out of the stock on the tick-down, for a money net flow of $16.80 million into the stock. Of all stocks tracked, Macy’s had the 26th highest net in-flow for the day. Macy’s traded down ($1.65) for the day and closed at $19.69

A number of equities research analysts have issued reports on M shares. Zacks Investment Research downgraded shares of Macy’s from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. BidaskClub downgraded shares of Macy’s from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Vetr downgraded shares of Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 target price for the company. in a research report on Thursday, July 27th. BMO Capital Markets reiterated an “outperform” rating on shares of Macy’s in a research report on Thursday, September 14th. Finally, ValuEngine downgraded shares of Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Macy’s currently has an average rating of “Hold” and an average target price of $27.18.

The stock has a market cap of $6.00 billion, a PE ratio of 8.95 and a beta of 0.87. The company has a 50-day moving average of $21.26 and a 200 day moving average of $23.20.

Macy’s (NYSE:M) last issued its quarterly earnings data on Thursday, August 10th. The company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.52 billion. Macy’s had a net margin of 2.71% and a return on equity of 21.38%. The company’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 earnings per share. Analysts expect that Macy’s Inc will post $3.39 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be given a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 7.67%. Macy’s’s payout ratio is presently 68.64%.

In related news, Director John A. Bryant acquired 9,825 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were bought at an average cost of $20.32 per share, with a total value of $199,644.00. Following the completion of the transaction, the director now directly owns 9,825 shares of the company’s stock, valued at $199,644. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 1.40% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in M. Discovery Capital Management LLC CT increased its position in Macy’s by 239.0% during the second quarter. Discovery Capital Management LLC CT now owns 2,871,297 shares of the company’s stock worth $66,729,000 after acquiring an additional 2,024,297 shares during the period. Dimensional Fund Advisors LP increased its position in Macy’s by 26.6% during the second quarter. Dimensional Fund Advisors LP now owns 5,323,131 shares of the company’s stock worth $123,703,000 after acquiring an additional 1,117,903 shares during the period. State of New Jersey Common Pension Fund D increased its position in Macy’s by 1,095.5% during the second quarter. State of New Jersey Common Pension Fund D now owns 1,189,500 shares of the company’s stock worth $27,644,000 after acquiring an additional 1,090,000 shares during the period. BlackRock Inc. increased its position in Macy’s by 3.9% during the second quarter. BlackRock Inc. now owns 25,380,303 shares of the company’s stock worth $589,839,000 after acquiring an additional 963,487 shares during the period. Finally, Douglas Lane & Associates LLC increased its position in Macy’s by 57.8% during the third quarter. Douglas Lane & Associates LLC now owns 2,243,096 shares of the company’s stock worth $48,944,000 after acquiring an additional 821,366 shares during the period. 82.20% of the stock is currently owned by institutional investors and hedge funds.

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About Macy’s

Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.

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