ProShare Advisors LLC Sells 1,519 Shares of Macy’s Inc (M)
ProShare Advisors LLC decreased its position in Macy’s Inc (NYSE:M) by 5.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,421 shares of the company’s stock after selling 1,519 shares during the period. ProShare Advisors LLC’s holdings in Macy’s were worth $591,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Profund Advisors LLC raised its holdings in Macy’s by 20.5% in the 2nd quarter. Profund Advisors LLC now owns 10,219 shares of the company’s stock valued at $237,000 after acquiring an additional 1,738 shares in the last quarter. Impala Asset Management LLC acquired a new position in Macy’s in the 2nd quarter valued at approximately $518,000. Formidable Asset Management LLC raised its holdings in Macy’s by 4.2% in the 2nd quarter. Formidable Asset Management LLC now owns 10,000 shares of the company’s stock valued at $232,000 after acquiring an additional 400 shares in the last quarter. Amalgamated Bank raised its holdings in Macy’s by 58.8% in the 2nd quarter. Amalgamated Bank now owns 34,314 shares of the company’s stock valued at $797,000 after acquiring an additional 12,707 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in Macy’s by 3.9% in the 2nd quarter. BlackRock Inc. now owns 25,380,303 shares of the company’s stock valued at $589,839,000 after acquiring an additional 963,487 shares in the last quarter. 81.97% of the stock is owned by hedge funds and other institutional investors.
Macy’s Inc (NYSE M) opened at 20.63 on Thursday. Macy’s Inc has a 12 month low of $19.32 and a 12 month high of $45.41. The company has a market capitalization of $6.28 billion, a price-to-earnings ratio of 9.38 and a beta of 0.87. The firm has a 50-day moving average price of $21.26 and a 200-day moving average price of $24.10.
Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, August 10th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. Macy’s had a net margin of 2.71% and a return on equity of 21.38%. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the previous year, the business earned $0.51 earnings per share. The company’s revenue was down 5.4% on a year-over-year basis. On average, equities analysts anticipate that Macy’s Inc will post $3.40 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were paid a dividend of $0.3775 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 7.32%. Macy’s’s payout ratio is presently 68.64%.
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Several equities analysts have commented on M shares. Guggenheim reaffirmed a “buy” rating and issued a $26.00 price target on shares of Macy’s in a report on Friday, June 16th. Vetr cut Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 price target for the company. in a report on Thursday, July 27th. BMO Capital Markets set a $36.00 price objective on Macy’s and gave the company a “buy” rating in a research note on Friday, August 11th. ValuEngine upgraded Macy’s from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Deutsche Bank AG upped their price objective on Macy’s from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Macy’s currently has a consensus rating of “Hold” and a consensus price target of $26.92.
In related news, Director John A. Bryant bought 9,825 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were purchased at an average price of $20.32 per share, with a total value of $199,644.00. Following the completion of the purchase, the director now owns 9,825 shares in the company, valued at approximately $199,644. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.40% of the company’s stock.
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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