Stevens Capital Management LP lessened its holdings in shares of Macy’s Inc (NYSE:M) by 63.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 24,181 shares of the company’s stock after selling 42,711 shares during the quarter. Stevens Capital Management LP’s holdings in Macy’s were worth $840,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Macy’s by 1.6% in the 3rd quarter. BlackRock Inc. now owns 28,532,647 shares of the company’s stock worth $990,939,000 after buying an additional 460,868 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Macy’s by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,827,606 shares of the company’s stock worth $367,847,000 after buying an additional 25,971 shares in the last quarter. FMR LLC raised its stake in shares of Macy’s by 2.1% in the 2nd quarter. FMR LLC now owns 7,740,157 shares of the company’s stock worth $289,715,000 after buying an additional 162,184 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Macy’s by 20.1% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 4,900,221 shares of the company’s stock worth $170,185,000 after buying an additional 820,168 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Macy’s by 5.5% in the 2nd quarter. Northern Trust Corp now owns 4,576,899 shares of the company’s stock worth $171,314,000 after buying an additional 238,683 shares in the last quarter. Institutional investors own 92.58% of the company’s stock.
NYSE:M opened at $31.69 on Friday. The firm has a market cap of $9.94 billion, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 0.93 and a beta of 0.56. Macy’s Inc has a 1-year low of $22.47 and a 1-year high of $41.99. The company has a current ratio of 1.35, a quick ratio of 0.24 and a debt-to-equity ratio of 0.97.
Macy’s (NYSE:M) last posted its quarterly earnings results on Wednesday, November 14th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.13. The firm had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.40 billion. Macy’s had a return on equity of 22.33% and a net margin of 6.72%. Macy’s’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 earnings per share. Equities research analysts predict that Macy’s Inc will post 4.08 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, December 14th will be given a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a yield of 4.76%. The ex-dividend date is Thursday, December 13th. Macy’s’s payout ratio is 40.05%.
In other Macy’s news, Director William H. Lenehan purchased 3,154 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The shares were purchased at an average cost of $31.74 per share, with a total value of $100,107.96. Following the completion of the transaction, the director now owns 11,214 shares of the company’s stock, valued at $355,932.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider C Elisa D. Garcia sold 4,628 shares of the company’s stock in a transaction on Friday, September 21st. The shares were sold at an average price of $35.85, for a total value of $165,913.80. Following the transaction, the insider now directly owns 10,727 shares in the company, valued at $384,562.95. The disclosure for this sale can be found here. Insiders have sold 233,312 shares of company stock worth $7,817,972 over the last three months. 2.36% of the stock is owned by insiders.
A number of brokerages have recently issued reports on M. Standpoint Research lowered Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. Morgan Stanley boosted their target price on Macy’s from $25.00 to $27.00 and gave the stock an “underweight” rating in a research report on Thursday, August 16th. Royal Bank of Canada set a $39.00 target price on Macy’s and gave the stock a “hold” rating in a research report on Thursday, August 16th. Deutsche Bank boosted their target price on Macy’s from $33.00 to $35.00 and gave the stock a “hold” rating in a research report on Thursday, August 16th. Finally, Cowen boosted their target price on Macy’s from $35.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, August 16th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Macy’s presently has a consensus rating of “Hold” and an average price target of $34.30.
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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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