Macy’s Target of Unusually Large Options Trading (M)
Macy’s Inc (NYSE:M) saw unusually large options trading activity on Wednesday. Stock traders purchased 813 put options on the stock. This is an increase of 166% compared to the typical daily volume of 306 put options.
Shares of Macy’s (NYSE:M) opened at $20.35 on Friday. The firm has a market cap of $6,170.00, a P/E ratio of 6.63, a PEG ratio of 0.68 and a beta of 0.86. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.19 and a current ratio of 1.29. Macy’s has a 1 year low of $17.41 and a 1 year high of $45.41.
Macy’s (NYSE:M) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. The firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.31 billion. Macy’s had a net margin of 2.83% and a return on equity of 21.20%. The firm’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.17 earnings per share. research analysts expect that Macy’s will post 3.39 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be issued a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a yield of 7.42%. The ex-dividend date of this dividend is Thursday, December 14th. Macy’s’s dividend payout ratio is presently 66.52%.
In other news, Director John A. Bryant purchased 9,825 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were bought at an average cost of $20.32 per share, with a total value of $199,644.00. Following the purchase, the director now directly owns 9,825 shares of the company’s stock, valued at $199,644. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in M. Thrivent Financial For Lutherans boosted its holdings in Macy’s by 5.7% in the first quarter. Thrivent Financial For Lutherans now owns 11,238 shares of the company’s stock worth $333,000 after purchasing an additional 610 shares during the period. Xact Kapitalforvaltning AB lifted its stake in Macy’s by 10.8% in the second quarter. Xact Kapitalforvaltning AB now owns 48,567 shares of the company’s stock valued at $1,129,000 after buying an additional 4,753 shares during the last quarter. Bank of Montreal Can lifted its stake in Macy’s by 21.2% in the second quarter. Bank of Montreal Can now owns 825,291 shares of the company’s stock valued at $19,179,000 after buying an additional 144,531 shares during the last quarter. Creative Planning lifted its stake in Macy’s by 201.8% in the second quarter. Creative Planning now owns 57,755 shares of the company’s stock valued at $1,342,000 after buying an additional 38,620 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Macy’s by 9.8% in the second quarter. State of Alaska Department of Revenue now owns 42,990 shares of the company’s stock valued at $998,000 after buying an additional 3,820 shares during the last quarter. 83.17% of the stock is owned by hedge funds and other institutional investors.
Several research firms have issued reports on M. Canaccord Genuity reaffirmed a “buy” rating and set a $9.50 price target on shares of Macy’s in a research note on Thursday. BMO Capital Markets set a $35.00 price target on shares of Macy’s and gave the stock a “buy” rating in a research note on Sunday, November 12th. Zacks Investment Research cut shares of Macy’s from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. Citigroup Inc. lowered shares of Macy’s from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $21.00 to $16.00 in a report on Monday, October 30th. Finally, Royal Bank Of Canada set a $21.00 price objective on shares of Macy’s and gave the stock a “sector perform” rating in a report on Friday, October 20th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Macy’s presently has a consensus rating of “Hold” and a consensus target price of $25.37.
WARNING: “Macy’s Target of Unusually Large Options Trading (M)” was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States and international copyright laws. The original version of this piece can be accessed at https://www.thecerbatgem.com/2017/11/18/macys-target-of-unusually-large-options-trading-m.html.
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.
Receive News & Stock Ratings for Macy's Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's Inc and related stocks with our FREE daily email newsletter.