BB&T Securities LLC trimmed its stake in Macy’s Inc (NYSE:M) by 12.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,751 shares of the company’s stock after selling 8,981 shares during the period. BB&T Securities LLC’s holdings in Macy’s were worth $1,866,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Vestpro Financial Partners Inc. dba CPF Texas bought a new stake in shares of Macy’s during the fourth quarter worth $104,000. Delpha Capital Management LLC bought a new stake in shares of Macy’s during the fourth quarter worth $117,000. SeaCrest Wealth Management LLC bought a new stake in shares of Macy’s during the fourth quarter worth $119,000. Harvest Fund Management Co. Ltd grew its holdings in shares of Macy’s by 78.4% during the first quarter. Harvest Fund Management Co. Ltd now owns 4,067 shares of the company’s stock worth $120,000 after purchasing an additional 1,787 shares during the last quarter. Finally, Focused Wealth Management Inc bought a new stake in shares of Macy’s during the fourth quarter worth $136,000. Hedge funds and other institutional investors own 88.46% of the company’s stock.
In related news, Chairman Jeffrey Gennette bought 10,000 shares of the business’s stock in a transaction on Thursday, April 12th. The shares were purchased at an average price of $29.10 per share, with a total value of $291,000.00. Following the completion of the purchase, the chairman now owns 89,303 shares of the company’s stock, valued at approximately $2,598,717.30. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.36% of the company’s stock.
Macy’s opened at $38.27 on Friday, MarketBeat Ratings reports. Macy’s Inc has a 1-year low of $17.41 and a 1-year high of $41.33. The company has a current ratio of 1.52, a quick ratio of 0.48 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $11.76 billion, a price-to-earnings ratio of 10.15, a P/E/G ratio of 1.19 and a beta of 0.74.
Macy’s (NYSE:M) last released 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. Macy’s had a return on equity of 24.56% and a net margin of 6.45%. The firm had revenue of $5.54 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the prior year, the firm posted $0.24 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. research analysts anticipate that Macy’s Inc will post 3.79 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 15th will be paid a $0.3775 dividend. This represents a $1.51 annualized dividend and a yield of 3.95%. The ex-dividend date is Thursday, June 14th. Macy’s’s payout ratio is 40.05%.
M has been the topic of several research analyst reports. TheStreet upgraded Macy’s from a “c+” rating to a “b-” rating in a report on Wednesday, March 28th. Guggenheim restated a “buy” rating and set a $36.00 target price on shares of Macy’s in a report on Wednesday, May 16th. ValuEngine raised Macy’s from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Gordon Haskett raised Macy’s from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Thursday, March 1st. Finally, Susquehanna Bancshares raised Macy’s from a “neutral” rating to a “buy” rating and upped their price target for the company from $25.00 to $43.00 in a research note on Tuesday, May 22nd. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $29.96.
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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