Gamco Investors INC. ET AL decreased its holdings in shares of Macy’s Inc (NYSE:M) by 14.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 92,250 shares of the company’s stock after selling 15,531 shares during the period. Gamco Investors INC. ET AL’s holdings in Macy’s were worth $1,434,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Macy’s by 1.9% in the 2nd quarter. BlackRock Inc. now owns 30,631,976 shares of the company’s stock valued at $657,361,000 after buying an additional 558,052 shares during the period. Yacktman Asset Management LP acquired a new position in shares of Macy’s in the 2nd quarter valued at $237,280,000. Invesco Ltd. grew its holdings in shares of Macy’s by 62.2% in the 2nd quarter. Invesco Ltd. now owns 5,600,515 shares of the company’s stock valued at $120,187,000 after buying an additional 2,148,243 shares during the period. Prudential Financial Inc. grew its holdings in shares of Macy’s by 27.8% in the 2nd quarter. Prudential Financial Inc. now owns 4,474,936 shares of the company’s stock valued at $96,032,000 after buying an additional 973,117 shares during the period. Finally, Prudential PLC grew its holdings in shares of Macy’s by 9.9% in the 2nd quarter. Prudential PLC now owns 4,319,853 shares of the company’s stock valued at $92,700,000 after buying an additional 388,253 shares during the period. Institutional investors own 83.96% of the company’s stock.

In related news, insider C Elisa D. Garcia sold 5,089 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $15.48, for a total transaction of $78,777.72. Following the sale, the insider now owns 16,825 shares in the company, valued at approximately $260,451. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.55% of the company’s stock.

Macy’s stock traded down $0.34 during trading hours on Friday, hitting $15.88. The company had a trading volume of 14,836,278 shares, compared to its average volume of 10,737,160. The firm has a market cap of $5.16 billion, a PE ratio of 3.80, a PEG ratio of 0.78 and a beta of 0.63. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.47 and a quick ratio of 0.34. Macy’s Inc has a one year low of $14.11 and a one year high of $38.35. The firm has a 50-day moving average of $15.43 and a 200 day moving average of $19.13.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, August 14th. The company reported $0.28 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 business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same period in the prior year, the business posted $0.70 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, research analysts expect that Macy’s Inc will post 2.86 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.3775 per share. This is a positive change from Macy’s’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, December 12th. This represents a $1.51 annualized dividend and a dividend yield of 9.51%. Macy’s’s dividend payout ratio (DPR) is currently 36.12%.

A number of equities analysts recently weighed in on M shares. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $18.00 target price (down from $25.00) on shares of Macy’s in a research note on Thursday, August 15th. Guggenheim lowered shares of Macy’s from a “buy” rating to a “neutral” rating in a research note on Friday, August 23rd. ValuEngine raised shares of Macy’s from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Wednesday, October 16th. Finally, Deutsche Bank reduced their target price on shares of Macy’s from $29.00 to $23.00 and set a “hold” rating for the company in a research note on Thursday, August 15th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. Macy’s currently has a consensus rating of “Hold” and a consensus target price of $20.75.

Macy’s Company Profile

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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Institutional Ownership by Quarter for Macy`s (NYSE:M)

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