Quantamental Technologies LLC Makes New Investment in Macy’s Inc (NYSE:M)
Quantamental Technologies LLC bought a new position in shares of Macy’s Inc (NYSE:M) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,839 shares of the company’s stock, valued at approximately $61,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC raised its stake in Macy’s by 646.8% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,501 shares of the company’s stock valued at $32,000 after buying an additional 1,300 shares during the last quarter. Avestar Capital LLC boosted its stake in Macy’s by 2,168.2% in the first quarter. Avestar Capital LLC now owns 1,497 shares of the company’s stock valued at $35,000 after acquiring an additional 1,431 shares in the last quarter. Bartlett & Co. LLC boosted its stake in Macy’s by 74.7% in the second quarter. Bartlett & Co. LLC now owns 1,889 shares of the company’s stock valued at $41,000 after acquiring an additional 808 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its stake in Macy’s by 841.4% in the first quarter. Wealthcare Advisory Partners LLC now owns 1,864 shares of the company’s stock valued at $45,000 after acquiring an additional 1,666 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in Macy’s by 1,733.1% in the second quarter. Parallel Advisors LLC now owns 2,603 shares of the company’s stock valued at $56,000 after acquiring an additional 2,461 shares in the last quarter. 84.40% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Paula A. Price sold 1,189 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $21.30, for a total transaction of $25,325.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.55% of the company’s stock.
Macy’s (NYSE:M) last released its earnings results on Wednesday, August 14th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.17). Macy’s had a return on equity of 18.74% and a net margin of 4.11%. The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same period in the prior year, the business posted $0.70 earnings per share. Macy’s’s revenue was down .5% on a year-over-year basis. On average, analysts forecast that Macy’s Inc will post 2.88 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.377 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.51 dividend on an annualized basis and a yield of 8.77%. Macy’s’s dividend payout ratio is presently 36.12%.
Several equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Macy’s from a “sell” rating to a “hold” rating in a report on Thursday, May 16th. Deutsche Bank decreased their price objective on shares of Macy’s from $29.00 to $23.00 and set a “hold” rating on the stock in a report on Thursday, August 15th. Telsey Advisory Group restated a “market perform” rating and issued a $18.00 price objective (down from $25.00) on shares of Macy’s in a report on Thursday, August 15th. UBS Group set a $25.00 price objective on shares of Macy’s and gave the stock a “hold” rating in a report on Friday, May 17th. Finally, Guggenheim lowered shares of Macy’s from a “buy” rating to a “neutral” rating in a report on Friday, August 23rd. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. Macy’s presently has a consensus rating of “Hold” and a consensus price target of $23.83.
Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.
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