QS Investors LLC Reduces Holdings in Macy’s Inc (M)
QS Investors LLC reduced its position in Macy’s Inc (NYSE:M) by 81.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,144 shares of the company’s stock after selling 71,058 shares during the quarter. QS Investors LLC’s holdings in Macy’s were worth $375,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ffcm LLC grew its position in Macy’s by 251.6% in the 2nd quarter. Ffcm LLC now owns 5,052 shares of the company’s stock valued at $120,000 after acquiring an additional 3,615 shares in the last quarter. Penserra Capital Management LLC grew its position in Macy’s by 51.1% in the 2nd quarter. Penserra Capital Management LLC now owns 5,560 shares of the company’s stock valued at $129,000 after acquiring an additional 1,880 shares in the last quarter. Financial Architects Inc grew its position in Macy’s by 254.5% in the 2nd quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock valued at $136,000 after acquiring an additional 4,200 shares in the last quarter. Edge Wealth Management LLC acquired a new position in Macy’s in the 2nd quarter valued at about $142,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Macy’s by 12.9% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 8,731 shares of the company’s stock valued at $203,000 after acquiring an additional 1,000 shares in the last quarter. 81.94% of the stock is owned by institutional investors.
In other Macy’s news, Director John A. Bryant acquired 9,825 shares of the stock in a transaction 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 purchase, the director now directly owns 9,825 shares in the company, valued at $199,644. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by company insiders.
Shares of Macy’s Inc (M) opened at 20.15 on Thursday. The stock has a market cap of $6.14 billion, a PE ratio of 9.16 and a beta of 0.87. The company’s 50-day moving average price is $21.26 and its 200 day moving average price is $23.49. 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 quarterly earnings data on Thursday, August 10th. The company reported $0.48 earnings per share for the quarter, beating 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 firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the firm earned $0.51 EPS. Macy’s’s quarterly revenue was down 5.4% on a year-over-year basis. Equities analysts forecast that Macy’s Inc will post $3.39 EPS for the current fiscal year.
The firm also recently disclosed 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 yield of 7.49%. Macy’s’s dividend payout ratio (DPR) is presently 68.64%.
Several equities analysts have weighed in on the company. Zacks Investment Research downgraded Macy’s from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. ValuEngine raised Macy’s from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Cowen and Company reissued a “hold” rating and set a $23.00 price objective on shares of Macy’s in a research report on Thursday, September 28th. Royal Bank Of Canada reissued a “hold” rating and set a $23.00 price objective on shares of Macy’s in a research report on Monday, September 18th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Macy’s in a research report on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $26.92.
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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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