Macy’s Inc (M) Holdings Boosted by Robeco Institutional Asset Management B.V.
Robeco Institutional Asset Management B.V. raised its holdings in Macy’s Inc (NYSE:M) by 87.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,760,431 shares of the company’s stock after purchasing an additional 1,750,507 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Macy’s were worth $130,745,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in M. Bank of New York Mellon Corp raised its position in shares of Macy’s by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 9,827,606 shares of the company’s stock valued at $367,847,000 after acquiring an additional 25,971 shares in the last quarter. FMR LLC raised its position in shares of Macy’s by 2.1% during the 2nd quarter. FMR LLC now owns 7,740,157 shares of the company’s stock valued at $289,715,000 after acquiring an additional 162,184 shares in the last quarter. Northern Trust Corp raised its position in shares of Macy’s by 5.5% during the 2nd quarter. Northern Trust Corp now owns 4,576,899 shares of the company’s stock valued at $171,314,000 after acquiring an additional 238,683 shares in the last quarter. LSV Asset Management increased its position in Macy’s by 2.0% in the second quarter. LSV Asset Management now owns 4,390,656 shares of the company’s stock worth $164,342,000 after buying an additional 86,065 shares during the period. Finally, Morgan Stanley increased its position in Macy’s by 82.0% in the second quarter. Morgan Stanley now owns 2,794,839 shares of the company’s stock worth $104,610,000 after buying an additional 1,259,244 shares during the period. 91.27% of the stock is currently owned by institutional investors.
In related news, insider C Elisa D. Garcia sold 4,628 shares of the firm’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $35.85, for a total transaction of $165,913.80. Following the completion of the transaction, the insider now owns 10,727 shares of the company’s stock, valued at $384,562.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Harry A. Lawton III sold 28,684 shares of the firm’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $36.05, for a total value of $1,034,058.20. Following the transaction, the president now directly owns 54,722 shares of the company’s stock, valued at approximately $1,972,728.10. The disclosure for this sale can be found here. Corporate insiders own 2.36% of the company’s stock.
NYSE:M opened at $37.78 on Friday. Macy’s Inc has a 1 year low of $18.80 and a 1 year high of $41.99. The firm has a market capitalization of $11.42 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 1.11 and a beta of 0.62. The company has a quick ratio of 0.43, a current ratio of 1.53 and a debt-to-equity ratio of 0.93.
Macy’s (NYSE:M) last released its quarterly earnings results on Wednesday, August 15th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.20. Macy’s had a return on equity of 23.55% and a net margin of 6.65%. The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.55 billion. During the same quarter in the prior year, the business posted $0.48 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, sell-side analysts predict that Macy’s Inc will post 3.93 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be paid a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.51 annualized dividend and a dividend yield of 4.00%. Macy’s’s payout ratio is 40.05%.
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Macy’s Company Profile
Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.
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