AMP Capital Investors Ltd grew its position in shares of Macy’s Inc (NYSE:M) by 22.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 208,649 shares of the company’s stock after buying an additional 38,789 shares during the quarter. AMP Capital Investors Ltd owned approximately 0.07% of Macy’s worth $7,809,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Nissay Asset Management Corp Japan ADV lifted its position in shares of Macy’s by 4.9% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 28,887 shares of the company’s stock worth $1,081,000 after purchasing an additional 1,337 shares in the last quarter. Whittier Trust Co. lifted its holdings in Macy’s by 21.1% in the second quarter. Whittier Trust Co. now owns 7,966 shares of the company’s stock valued at $462,000 after buying an additional 1,390 shares during the period. Amalgamated Bank lifted its holdings in Macy’s by 3.7% in the second quarter. Amalgamated Bank now owns 39,333 shares of the company’s stock valued at $1,472,000 after buying an additional 1,402 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in Macy’s by 2.3% in the second quarter. Crossmark Global Holdings Inc. now owns 72,053 shares of the company’s stock valued at $2,697,000 after buying an additional 1,609 shares during the period. Finally, Charter Trust Co. lifted its holdings in Macy’s by 12.1% in the second quarter. Charter Trust Co. now owns 15,106 shares of the company’s stock valued at $565,000 after buying an additional 1,630 shares during the period. 90.30% of the stock is currently owned by hedge funds and other institutional investors.
M has been the topic of several analyst reports. Zacks Investment Research lowered shares of Macy’s from a “buy” rating to a “hold” rating in a report on Thursday, August 23rd. ValuEngine lowered shares of Macy’s from a “hold” rating to a “sell” rating in a report on Tuesday. Standpoint Research lowered shares of Macy’s from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Goldman Sachs Group initiated coverage on shares of Macy’s in a report on Monday, September 3rd. They issued a “sell” rating and a $33.00 price objective on the stock. Finally, Morgan Stanley increased their price objective on shares of Macy’s from $25.00 to $27.00 and gave the company an “underweight” rating in a report on Thursday, August 16th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $33.35.
In related news, insider C Elisa D. Garcia sold 4,628 shares of the firm’s stock in a transaction on Friday, September 21st. The shares were sold at an average price of $35.85, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William H. Lenehan bought 2,092 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The stock was acquired at an average cost of $35.78 per share, with a total value of $74,851.76. Following the transaction, the director now owns 8,060 shares of the company’s stock, valued at approximately $288,386.80. The disclosure for this purchase can be found here. 2.36% of the stock is owned by corporate insiders.
NYSE:M traded down $0.04 during trading hours on Friday, hitting $32.83. The stock had a trading volume of 9,012,679 shares, compared to its average volume of 9,363,393. Macy’s Inc has a one year low of $17.41 and a one year high of $41.99. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.43 and a current ratio of 1.53. The company has a market capitalization of $10.66 billion, a PE ratio of 8.71, a PEG ratio of 1.04 and a beta of 0.71.
Macy’s (NYSE:M) last issued its quarterly earnings data 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 net margin of 6.65% and a return on equity of 23.55%. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The firm’s revenue was down 1.1% compared to the same quarter last year. On average, sell-side analysts forecast that Macy’s Inc will post 3.93 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, September 14th were given a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 4.60%. The ex-dividend date was Thursday, September 13th. Macy’s’s dividend payout ratio is 40.05%.
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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