Schwab Charles Investment Management Inc. raised its holdings in Macy’s Inc (NYSE:M) by 31.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,199,277 shares of the company’s stock after acquiring an additional 521,776 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.72% of Macy’s worth $47,989,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Ffcm LLC raised its holdings in shares of Macy’s by 251.6% during the 2nd quarter. Ffcm LLC now owns 5,052 shares of the company’s stock valued at $120,000 after buying an additional 3,615 shares in the last quarter. Penserra Capital Management LLC raised its holdings in shares of Macy’s by 51.1% during the 2nd quarter. Penserra Capital Management LLC now owns 5,560 shares of the company’s stock valued at $129,000 after buying an additional 1,880 shares in the last quarter. Kistler Tiffany Companies LLC purchased a new position in shares of Macy’s during the 3rd quarter valued at about $148,000. IFP Advisors Inc raised its holdings in shares of Macy’s by 62.9% during the 3rd quarter. IFP Advisors Inc now owns 7,981 shares of the company’s stock valued at $174,000 after buying an additional 3,083 shares in the last quarter. Finally, Westside Investment Management Inc. raised its holdings in shares of Macy’s by 3,191.7% during the 2nd quarter. Westside Investment Management Inc. now owns 9,875 shares of the company’s stock valued at $208,000 after buying an additional 9,575 shares in the last quarter. 82.27% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on M. BMO Capital Markets set a $36.00 price objective on Macy’s and gave the company a “buy” rating in a report on Friday, August 11th. Cowen reissued a “market perform” rating and set a $23.00 price objective (down from $26.00) on shares of Macy’s in a report on Friday, August 11th. BidaskClub cut Macy’s from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. ValuEngine raised Macy’s from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Zacks Investment Research cut Macy’s from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $25.41.
Shares of Macy’s Inc (NYSE M) traded down $0.13 during trading on Thursday, reaching $25.09. The company’s stock had a trading volume of 12,347,600 shares, compared to its average volume of 10,193,630. The company has a quick ratio of 0.19, a current ratio of 1.29 and a debt-to-equity ratio of 1.49. The stock has a market cap of $7,681.17, a PE ratio of 8.49, a P/E/G ratio of 0.87 and a beta of 0.97. Macy’s Inc has a 1-year low of $17.41 and a 1-year high of $43.79.
Macy’s (NYSE:M) last issued its quarterly earnings data on Thursday, November 9th. The company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.04. The firm had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.31 billion. Macy’s had a return on equity of 21.20% and a net margin of 2.83%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period last year, the company earned $0.17 EPS. sell-side analysts forecast that Macy’s Inc will post 3.39 earnings per share for the current year.
The firm 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. The ex-dividend date is Thursday, December 14th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 6.02%. Macy’s’s dividend payout ratio is currently 66.52%.
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Macy’s Company Profile
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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