Macy’s Inc. (M) Shares Sold by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA decreased its stake in shares of Macy’s Inc. (NYSE:M) by 14.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 300,856 shares of the company’s stock after selling 49,150 shares during the period. BNP Paribas Arbitrage SA owned about 0.10% of Macy’s worth $11,147,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Scopia Capital Management LP purchased a new position in shares of Macy’s during the first quarter valued at about $106,608,000. Bourgeon Capital Management LLC purchased a new position in shares of Macy’s during the second quarter valued at about $252,000. Candriam Luxembourg S.C.A. increased its position in shares of Macy’s by 59.2% in the second quarter. Candriam Luxembourg S.C.A. now owns 351,237 shares of the company’s stock valued at $11,806,000 after buying an additional 130,557 shares in the last quarter. Douglas Lane & Associates LLC increased its position in shares of Macy’s by 9.7% in the second quarter. Douglas Lane & Associates LLC now owns 1,001,372 shares of the company’s stock valued at $33,656,000 after buying an additional 88,508 shares in the last quarter. Finally, BB&T Corp increased its position in shares of Macy’s by 84.4% in the second quarter. BB&T Corp now owns 375,841 shares of the company’s stock valued at $12,632,000 after buying an additional 172,049 shares in the last quarter. Institutional investors own 86.18% of the company’s stock.
Shares of Macy’s Inc. (NYSE:M) traded down 0.05% during midday trading on Friday, reaching $43.03. 5,055,445 shares of the company were exchanged. The firm has a 50-day moving average of $36.85 and a 200 day moving average of $35.63. Macy’s Inc. has a 52 week low of $29.94 and a 52 week high of $45.50. The firm has a market capitalization of $13.15 billion, a P/E ratio of 19.59 and a beta of 0.77.
Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, November 10th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by $0.24. Macy’s had a net margin of 2.63% and a return on equity of 24.83%. The firm earned $5.63 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the prior year, the company posted $0.56 EPS. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities research analysts expect that Macy’s Inc. will post $3.29 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Thursday, December 15th will be paid a dividend of $0.3775 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 3.51%. Macy’s’s payout ratio is 69.27%.
Several brokerages have recently issued reports on M. Macquarie downgraded shares of Macy’s from an “outperform” rating to a “neutral” rating in a research note on Friday, August 12th. Stifel Nicolaus restated a “hold” rating and set a $38.00 price objective on shares of Macy’s in a research report on Tuesday, November 1st. Deutsche Bank AG increased their price objective on shares of Macy’s from $37.00 to $40.00 and gave the company a “hold” rating in a research report on Friday, August 12th. Royal Bank Of Canada increased their price objective on shares of Macy’s from $35.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, August 12th. Finally, Standpoint Research started coverage on shares of Macy’s in a research report on Thursday, August 25th. They set a “buy” rating and a $72.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company. Macy’s has an average rating of “Hold” and a consensus target price of $42.50.
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.
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