Impala Asset Management LLC Invests $518,000 in Macy’s Inc (M)
Impala Asset Management LLC purchased a new position in Macy’s Inc (NYSE:M) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 22,281 shares of the company’s stock, valued at approximately $518,000.
Other large investors also recently modified their holdings of the company. Vantage Financial Partners Ltd. Inc. bought a new stake in shares of Macy’s in the second quarter worth $335,000. Penserra Capital Management LLC increased its stake in shares of Macy’s by 9.5% in the first quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock worth $109,000 after buying an additional 320 shares during the last quarter. Ffcm LLC increased its stake in shares of Macy’s by 251.6% in the second quarter. Ffcm LLC now owns 5,052 shares of the company’s stock worth $120,000 after buying an additional 3,615 shares during the last quarter. Financial Architects Inc increased its stake in shares of Macy’s by 254.5% in the second quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock worth $136,000 after buying an additional 4,200 shares during the last quarter. Finally, Edge Wealth Management LLC bought a new stake in shares of Macy’s in the second quarter worth $142,000. Institutional investors and hedge funds own 81.71% of the company’s stock.
M has been the subject of a number of research analyst reports. Guggenheim restated a “buy” rating and issued a $26.00 price target on shares of Macy’s in a research note on Friday, June 16th. Vetr lowered shares of Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 price target for the company. in a research note on Thursday, July 27th. BMO Capital Markets set a $36.00 price target on shares of Macy’s and gave the stock a “buy” rating in a research note on Friday, August 11th. Wedbush restated a “hold” rating on shares of Macy’s in a research note on Monday, July 31st. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $28.00 price target on shares of Macy’s in a research note on Monday, June 19th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $27.63.
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In related news, Director John A. Bryant acquired 9,825 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was purchased at an average cost of $20.32 per share, for a total transaction of $199,644.00. Following the completion of the purchase, the director now directly owns 9,825 shares of the company’s stock, valued at approximately $199,644. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.40% of the company’s stock.
Macy’s Inc (NYSE:M) traded up 2.64% during trading on Friday, hitting $22.58. 16,286,500 shares of the stock traded hands. The company has a 50-day moving average price of $21.64 and a 200 day moving average price of $25.07. The stock has a market cap of $6.88 billion, a PE ratio of 10.26 and a beta of 0.83. Macy’s Inc has a one year low of $19.32 and a one year high of $45.41. Macy’s also was the recipient of unusually large options trading on Wednesday. Stock traders purchased 813 put options on the stock. This represents an increase of 166% compared to the typical volume of 306 put options.
Macy’s (NYSE:M) last released its quarterly earnings data on Thursday, August 10th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.03. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same period in the prior year, the company posted $0.51 earnings per share. The business’s revenue for the quarter 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 year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a dividend of $0.3775 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.51 annualized dividend and a yield of 6.69%. Macy’s’s dividend payout ratio is currently 68.64%.
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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