Shell Asset Management Co. trimmed its position in shares of Macy’s Inc (NYSE:M) by 17.8% during the 3rd quarter, Holdings Channel reports. The firm owned 21,399 shares of the company’s stock after selling 4,633 shares during the period. Shell Asset Management Co.’s holdings in Macy’s were worth $743,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of Macy’s by 1.6% during the 3rd quarter. BlackRock Inc. now owns 28,532,647 shares of the company’s stock valued at $990,939,000 after acquiring an additional 460,868 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Macy’s by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 9,827,606 shares of the company’s stock valued at $367,847,000 after acquiring an additional 25,971 shares during the last quarter. FMR LLC boosted its holdings in shares of Macy’s by 2.1% during the 2nd quarter. FMR LLC now owns 7,740,157 shares of the company’s stock valued at $289,715,000 after acquiring an additional 162,184 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Macy’s by 20.1% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 4,900,221 shares of the company’s stock valued at $170,185,000 after acquiring an additional 820,168 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Macy’s by 5.5% during the 2nd quarter. Northern Trust Corp now owns 4,576,899 shares of the company’s stock valued at $171,314,000 after acquiring an additional 238,683 shares during the last quarter. 92.58% of the stock is currently owned by institutional investors.
In other Macy’s news, President Harry A. Lawton III sold 28,684 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $36.05, for a total transaction of $1,034,058.20. Following the sale, the president now owns 54,722 shares in the company, valued at approximately $1,972,728.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William H. Lenehan bought 3,154 shares of the firm’s stock in a transaction on Friday, November 16th. The shares were purchased at an average price of $31.74 per share, for a total transaction of $100,107.96. Following the purchase, the director now owns 11,214 shares in the company, valued at approximately $355,932.36. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 233,312 shares of company stock worth $7,817,972. 2.36% of the stock is owned by company insiders.
A number of analysts have recently issued reports on M shares. Standpoint Research downgraded shares of Macy’s from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Morgan Stanley raised their price target on shares of Macy’s from $25.00 to $27.00 and gave the company an “underweight” rating in a report on Thursday, August 16th. Royal Bank of Canada set a $39.00 price target on shares of Macy’s and gave the company a “hold” rating in a report on Thursday, August 16th. Deutsche Bank raised their price target on shares of Macy’s from $33.00 to $35.00 and gave the company a “hold” rating in a report on Thursday, August 16th. Finally, Cowen raised their price target on shares of Macy’s from $35.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, August 16th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $34.30.
M opened at $32.37 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.24 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $9.95 billion, a P/E ratio of 8.59, a price-to-earnings-growth ratio of 0.93 and a beta of 0.56. Macy’s Inc has a 12-month low of $22.47 and a 12-month high of $41.99.
Macy’s (NYSE:M) last posted its quarterly earnings data on Wednesday, November 14th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.13. The company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.40 billion. Macy’s had a net margin of 6.72% and a return on equity of 22.33%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 earnings per share. On average, equities research analysts predict that Macy’s Inc will post 4.08 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be paid a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend is Thursday, December 13th. Macy’s’s payout ratio is 40.05%.
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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.
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