Macy’s Inc (M) Shares Sold by Airain ltd
Airain ltd cut its position in Macy’s Inc (NYSE:M) by 28.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 287,810 shares of the company’s stock after selling 113,364 shares during the period. Airain ltd owned approximately 0.09% of Macy’s worth $6,689,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. DT Investment Partners LLC acquired a new stake in Macy’s during the first quarter valued at approximately $1,024,000. Usca Ria LLC raised its stake in Macy’s by 5.0% in the first quarter. Usca Ria LLC now owns 58,746 shares of the company’s stock valued at $1,741,000 after buying an additional 2,790 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Macy’s during the first quarter valued at approximately $401,000. Sumitomo Mitsui Asset Management Company LTD raised its stake in Macy’s by 0.3% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 26,085 shares of the company’s stock valued at $773,000 after buying an additional 76 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. raised its stake in Macy’s by 80.6% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 16,800 shares of the company’s stock valued at $497,000 after buying an additional 7,500 shares in the last quarter. 84.21% of the stock is owned by institutional investors.
Macy’s Inc (M) opened at 21.11 on Friday. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 9.60 and a beta of 0.84. The firm has a 50-day moving average of $22.08 and a 200 day moving average of $26.15. Macy’s Inc has a 1-year low of $19.32 and a 1-year high of $45.41.
Macy’s (NYSE:M) last issued its earnings results on Thursday, August 10th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. The company had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.52 billion. During the same period last year, the business earned $0.51 EPS. Macy’s’s quarterly revenue was down 5.4% compared to the same quarter last year. Analysts expect that Macy’s Inc will post $3.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a dividend yield of 7.15%. Macy’s’s dividend payout ratio is currently 68.64%.
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Several research firms recently commented on M. Royal Bank Of Canada set a $28.00 target price on shares of Macy’s and gave the company a “hold” rating in a research note on Saturday, May 13th. Vetr raised shares of Macy’s from a “buy” rating to a “strong-buy” rating and set a $26.51 target price for the company in a research note on Wednesday, August 2nd. BMO Capital Markets set a $36.00 target price on shares of Macy’s and gave the company a “buy” rating in a research note on Friday, August 11th. Citigroup Inc. cut their target price on shares of Macy’s from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, June 9th. Finally, Cowen and Company reissued a “market perform” rating and set a $23.00 target price (down from $26.00) on shares of Macy’s in a research note on Friday, August 11th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Macy’s presently has an average rating of “Hold” and a consensus price target of $27.63.
In other news, Director William H. Lenehan bought 4,390 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were bought at an average cost of $22.72 per share, for a total transaction of $99,740.80. Following the acquisition, the director now directly owns 5,968 shares in the company, valued at $135,592.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John A. Bryant bought 9,825 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was purchased at an average price of $20.32 per share, for a total transaction of $199,644.00. Following the completion of the acquisition, the director now owns 9,825 shares in the company, valued at $199,644. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 27,300 shares of company stock worth $599,686. 1.40% of the stock is owned by company insiders.
Macy’s Company Profile
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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