Stevens Capital Management LP reduced its holdings in Macy’s Inc (NYSE:M) by 87.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,801 shares of the company’s stock after selling 186,439 shares during the quarter. Stevens Capital Management LP’s holdings in Macy’s were worth $767,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in M. Schwab Charles Investment Management Inc. increased its stake in Macy’s by 22.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,696,773 shares of the company’s stock worth $67,932,000 after acquiring an additional 497,496 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Macy’s by 19.6% in the 4th quarter. State of Alaska Department of Revenue now owns 97,610 shares of the company’s stock worth $2,457,000 after acquiring an additional 16,020 shares during the last quarter. James Investment Research Inc. increased its stake in Macy’s by 26.1% in the 4th quarter. James Investment Research Inc. now owns 245,522 shares of the company’s stock worth $6,185,000 after acquiring an additional 50,772 shares during the last quarter. Cerebellum GP LLC bought a new position in Macy’s in the 4th quarter worth about $127,000. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in Macy’s in the 4th quarter worth about $377,000. Institutional investors and hedge funds own 88.96% of the company’s stock.
In other Macy’s news, Chairman Jeffrey Gennette acquired 10,000 shares of the company’s stock in a transaction on Thursday, April 12th. The stock was acquired at an average price of $29.10 per share, for a total transaction of $291,000.00. Following the acquisition, the chairman now owns 89,303 shares in the company, valued at approximately $2,598,717.30. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Karen M. Hoguet sold 67,515 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $29.39, for a total value of $1,984,265.85. Following the completion of the sale, the chief financial officer now owns 67,515 shares of the company’s stock, valued at approximately $1,984,265.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,392 shares of company stock valued at $3,173,164. Company insiders own 2.36% of the company’s stock.
Shares of M stock opened at $33.48 on Thursday. The stock has a market cap of $10.09 billion, a P/E ratio of 8.88, a P/E/G ratio of 1.03 and a beta of 0.73. Macy’s Inc has a 1-year low of $17.41 and a 1-year high of $35.11. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.52 and a quick ratio of 0.48.
Macy’s (NYSE:M) last issued its earnings results on Wednesday, May 16th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.12. The company had revenue of $5.54 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Macy’s had a return on equity of 24.56% and a net margin of 6.45%. Macy’s’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 EPS. equities research analysts expect that Macy’s Inc will post 3.78 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 15th will be issued a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Thursday, June 14th. Macy’s’s dividend payout ratio is presently 40.05%.
A number of equities analysts have recently issued reports on M shares. Royal Bank of Canada set a $35.00 price objective on Macy’s and gave the stock a “hold” rating in a report on Thursday, May 17th. Gordon Haskett upgraded Macy’s from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Thursday, March 1st. Northcoast Research reiterated a “neutral” rating on shares of Macy’s in a report on Wednesday, May 16th. ValuEngine cut Macy’s from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Morgan Stanley upped their price objective on Macy’s from $23.00 to $27.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 28th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $28.57.
Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.
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