Gluskin Sheff & Assoc Inc. Cuts Stake in Macy’s Inc. (M)
Gluskin Sheff & Assoc Inc. lowered its position in Macy’s Inc. (NYSE:M) by 11.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 362,612 shares of the company’s stock after selling 47,891 shares during the period. Gluskin Sheff & Assoc Inc. owned about 0.12% of Macy’s worth $12,187,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of M. Advisory Services Network LLC boosted its stake in shares of Macy’s by 13.3% in the second quarter. Advisory Services Network LLC now owns 4,800 shares of the company’s stock worth $161,000 after buying an additional 565 shares during the last quarter. Smith Graham & Co. Investment Advisors LP boosted its position in Macy’s by 36.3% in the second quarter. Smith Graham & Co. Investment Advisors LP now owns 113,920 shares of the company’s stock worth $3,829,000 after buying an additional 30,320 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its position in Macy’s by 59.2% in the second quarter. Candriam Luxembourg S.C.A. now owns 351,237 shares of the company’s stock worth $11,806,000 after buying an additional 130,557 shares in the last quarter. Green Square Capital LLC boosted its position in Macy’s by 6.6% in the second quarter. Green Square Capital LLC now owns 101,934 shares of the company’s stock worth $3,464,000 after buying an additional 6,337 shares in the last quarter. Finally, PGGM Investments boosted its position in Macy’s by 38.5% in the second quarter. PGGM Investments now owns 1,073,410 shares of the company’s stock worth $36,077,000 after buying an additional 298,584 shares in the last quarter. Institutional investors and hedge funds own 83.27% of the company’s stock.
Shares of Macy’s Inc. (NYSE:M) traded up 2.366% on Wednesday, reaching $37.425. The company had a trading volume of 4,481,684 shares. Macy’s Inc. has a one year low of $29.94 and a one year high of $52.48. The company has a 50-day moving average price of $37.14 and a 200-day moving average price of $36.49. The firm has a market cap of $11.54 billion, a P/E ratio of 15.006 and a beta of 0.89.
Macy’s (NYSE:M) last posted its earnings results on Thursday, August 11th. The company reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.09. The business earned $5.87 billion during the quarter, compared to the consensus estimate of $5.73 billion. Macy’s had a return on equity of 27.68% and a net margin of 2.99%. Macy’s’s revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the company earned $0.64 EPS. On average, analysts expect that Macy’s Inc. will post $3.36 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were given a dividend of $0.3775 per share. The ex-dividend date was Tuesday, September 13th. This represents a $1.51 annualized dividend and a dividend yield of 4.13%. Macy’s’s dividend payout ratio (DPR) is presently 60.64%.
A number of equities analysts have weighed in on M shares. Vetr upgraded Macy’s from a “hold” rating to a “buy” rating and set a $38.48 price target for the company in a report on Monday, September 12th. RBC Capital Markets restated a “sector perform” rating and issued a $40.00 price target (up previously from $35.00) on shares of Macy’s in a report on Saturday, August 13th. Cowen and Company restated a “market perform” rating on shares of Macy’s in a report on Saturday, June 25th. Guggenheim started coverage on Macy’s in a report on Friday, September 30th. They issued a “buy” rating and a $45.00 price target for the company. Finally, Telsey Advisory Group upped their price target on Macy’s from $36.00 to $42.00 and gave the stock a “market perform” rating in a report on Friday, August 12th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Macy’s has a consensus rating of “Hold” and an average target price of $43.98.
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
Receive News & Stock Ratings for Macy's Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's Inc. and related stocks with our FREE daily email newsletter.