Greenwich Wealth Management LLC lifted its holdings in shares of Macy’s Inc (NYSE:M) by 50.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,287 shares of the company’s stock after purchasing an additional 6,455 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Macy’s were worth $414,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of the company. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Macy’s by 646.8% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,501 shares of the company’s stock worth $32,000 after buying an additional 1,300 shares during the period. Avestar Capital LLC increased its stake in shares of Macy’s by 2,168.2% during the first quarter. Avestar Capital LLC now owns 1,497 shares of the company’s stock worth $35,000 after buying an additional 1,431 shares during the period. Bartlett & Co. LLC increased its stake in shares of Macy’s by 74.7% during the second quarter. Bartlett & Co. LLC now owns 1,889 shares of the company’s stock worth $41,000 after buying an additional 808 shares during the period. Wealthcare Advisory Partners LLC increased its stake in shares of Macy’s by 841.4% during the first quarter. Wealthcare Advisory Partners LLC now owns 1,864 shares of the company’s stock worth $45,000 after buying an additional 1,666 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of Macy’s by 1,733.1% during the second quarter. Parallel Advisors LLC now owns 2,603 shares of the company’s stock worth $56,000 after buying an additional 2,461 shares during the period. 84.40% of the stock is currently owned by institutional investors and hedge funds.
Macy’s stock traded down $0.89 during mid-day trading on Thursday, hitting $16.95. The company had a trading volume of 360,601 shares, compared to its average volume of 10,389,843. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 4.07, a PEG ratio of 0.75 and a beta of 0.63. Macy’s Inc has a 1 year low of $14.20 and a 1 year high of $38.35. The company has a quick ratio of 0.34, a current ratio of 1.47 and a debt-to-equity ratio of 1.19. The business has a fifty day moving average of $17.88 and a 200 day moving average of $21.61.
Macy’s (NYSE:M) last announced its quarterly 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). The company had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.55 billion. Macy’s had a net margin of 4.11% and a return on equity of 18.74%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 earnings per share. Equities analysts anticipate that Macy’s Inc will post 2.88 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $0.377 dividend. This represents a $1.51 annualized dividend and a dividend yield of 8.90%. The ex-dividend date is Thursday, September 12th. Macy’s’s payout ratio is currently 36.12%.
In other news, CFO Paula A. Price sold 1,189 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $21.30, for a total value of $25,325.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.55% of the stock is currently owned by corporate insiders.
A number of analysts recently weighed in on M shares. Zacks Investment Research upgraded shares of Macy’s from a “sell” rating to a “hold” rating in a research note on Thursday, May 16th. Deutsche Bank cut their target price on shares of Macy’s from $29.00 to $23.00 and set a “hold” rating on the stock in a research note on Thursday, August 15th. UBS Group set a $25.00 target price on shares of Macy’s and gave the stock a “hold” rating in a research note on Friday, May 17th. Goldman Sachs Group upgraded shares of Macy’s from a “sell” rating to a “neutral” rating and cut their target price for the stock from $23.00 to $21.00 in a research note on Thursday, May 16th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $18.00 target price (down from $25.00) on shares of Macy’s in a research note on Thursday, August 15th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price 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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