Cerebellum GP LLC lessened its position in shares of Macy’s Inc (NYSE:M) by 31.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,793 shares of the company’s stock after selling 2,157 shares during the period. Cerebellum GP LLC’s holdings in Macy’s were worth $179,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Point72 Asia Hong Kong Ltd increased its holdings in Macy’s by 10,087.2% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 3,973 shares of the company’s stock worth $118,000 after acquiring an additional 3,934 shares during the period. Harvest Fund Management Co. Ltd grew its stake in Macy’s by 78.4% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 4,067 shares of the company’s stock worth $120,000 after buying an additional 1,787 shares in the last quarter. Focused Wealth Management Inc purchased a new position in Macy’s in the 4th quarter worth approximately $136,000. Bristol John W & Co. Inc. NY purchased a new position in Macy’s in the 1st quarter worth approximately $199,000. Finally, Wade G W & Inc. purchased a new position in Macy’s in the 1st quarter worth approximately $201,000. 88.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of M opened at $36.89 on Friday. The firm has a market cap of $11.38 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 1.13 and a beta of 0.74. 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 Inc has a twelve month low of $17.41 and a twelve month high of $41.33.
Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, May 16th. The company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.12. Macy’s had a net margin of 6.45% and a return on equity of 24.56%. The business had revenue of $5.54 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period in the prior year, the business earned $0.24 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. equities research analysts forecast that Macy’s Inc will post 3.87 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 2nd. Shareholders of record on Friday, June 15th were issued a $0.3775 dividend. The ex-dividend date was Thursday, June 14th. This represents a $1.51 annualized dividend and a yield of 4.09%. Macy’s’s dividend payout ratio (DPR) is presently 40.05%.
A number of research firms have commented on M. Susquehanna Bancshares reissued a “positive” rating on shares of Macy’s in a research note on Thursday, June 7th. Cowen reissued a “hold” rating on shares of Macy’s in a research note on Thursday, June 7th. Atlantic Securities cut shares of Macy’s from an “overweight” rating to a “neutral” rating and set a $39.00 price target for the company. in a research note on Wednesday, June 6th. They noted that the move was a valuation call. UBS Group began coverage on shares of Macy’s in a research note on Thursday, June 21st. They issued a “neutral” rating and a $39.00 price target for the company. Finally, Evercore ISI boosted their price target on shares of Macy’s from $17.41 to $36.00 and gave the stock a “buy” rating in a research note on Monday, June 4th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $30.96.
In related news, Chairman Jeffrey Gennette acquired 10,000 shares of the firm’s stock in a transaction on Thursday, April 12th. The stock was acquired at an average cost of $29.10 per share, for a total transaction of $291,000.00. Following the acquisition, the chairman now owns 89,303 shares of the company’s stock, valued at $2,598,717.30. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.36% of the stock is currently owned by corporate insiders.
Macy’s Company Profile
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.
Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter.