Wasatch Advisors Inc. Sells 97,571 Shares of Macy’s Inc (M)
Wasatch Advisors Inc. lessened its holdings in Macy’s Inc (NYSE:M) by 60.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,007 shares of the company’s stock after selling 97,571 shares during the period. Wasatch Advisors Inc.’s holdings in Macy’s were worth $1,511,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Wealthsource Partners LLC acquired a new position in Macy’s in the second quarter worth about $374,000. Nomura Holdings Inc. acquired a new position in Macy’s in the second quarter worth about $1,859,000. Raymond James Financial Services Advisors Inc. raised its position in Macy’s by 3.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 20,924 shares of the company’s stock worth $486,000 after purchasing an additional 701 shares in the last quarter. PVG Asset Management Corp raised its position in Macy’s by 99.2% in the second quarter. PVG Asset Management Corp now owns 219,953 shares of the company’s stock worth $5,112,000 after purchasing an additional 109,519 shares in the last quarter. Finally, Westside Investment Management Inc. raised its position in Macy’s by 3,191.7% in the second quarter. Westside Investment Management Inc. now owns 9,875 shares of the company’s stock worth $208,000 after purchasing an additional 9,575 shares in the last quarter. 81.94% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Macy’s from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. ValuEngine raised shares of Macy’s from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Cowen and Company reaffirmed a “hold” rating and set a $23.00 price objective on shares of Macy’s in a research note on Thursday, September 28th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $23.00 price objective on shares of Macy’s in a research note on Monday, September 18th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Macy’s in a research note on Thursday, September 14th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Macy’s presently has an average rating of “Hold” and a consensus target price of $26.92.
In other Macy’s news, Director John A. Bryant bought 9,825 shares of Macy’s stock in a transaction on Wednesday, August 23rd. The shares were purchased at an average cost of $20.32 per share, with a total value of $199,644.00. Following the acquisition, the director now directly owns 9,825 shares of the company’s stock, valued at approximately $199,644. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.40% of the company’s stock.
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Macy’s Inc (NYSE:M) opened at 20.255 on Thursday. The firm has a 50-day moving average of $21.26 and a 200-day moving average of $23.49. Macy’s Inc has a 52 week low of $19.32 and a 52 week high of $45.41. The company has a market capitalization of $6.17 billion, a PE ratio of 9.207 and a beta of 0.87.
Macy’s (NYSE:M) last posted its earnings results on Thursday, August 10th. The company reported $0.48 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period in the previous year, the firm posted $0.51 EPS. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. Equities analysts expect that Macy’s Inc will post $3.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were issued a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 7.49%. The ex-dividend date was Thursday, September 14th. Macy’s’s payout ratio is 68.64%.
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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