Rockland Trust Co. boosted its stake in shares of Macy’s Inc (NYSE:M) by 37.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 80,566 shares of the company’s stock after buying an additional 21,839 shares during the quarter. Rockland Trust Co.’s holdings in Macy’s were worth $1,192,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of M. First Trust Advisors LP raised its holdings in shares of Macy’s by 25.9% in the first quarter. First Trust Advisors LP now owns 1,172,362 shares of the company’s stock valued at $28,172,000 after buying an additional 241,062 shares during the last quarter. TCW Group Inc. increased its stake in shares of Macy’s by 14.9% during the first quarter. TCW Group Inc. now owns 12,591 shares of the company’s stock worth $303,000 after acquiring an additional 1,635 shares during the period. MARSHALL WACE ASIA Ltd acquired a new position in shares of Macy’s during the first quarter worth about $3,845,000. Twin Focus Capital Partners LLC acquired a new position in shares of Macy’s during the first quarter worth about $360,000. Finally, Meridian Wealth Management LLC acquired a new position in shares of Macy’s during the first quarter worth about $99,000. Institutional investors own 83.39% of the company’s stock.
M has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered shares of Macy’s from a “neutral” rating to an “underweight” rating in a research note on Wednesday, August 14th. Telsey Advisory Group reiterated a “market perform” rating and issued a $18.00 price target (down from $25.00) on shares of Macy’s in a research report on Thursday, August 15th. Deutsche Bank lowered their price target on shares of Macy’s from $29.00 to $23.00 and set a “hold” rating on the stock in a research report on Thursday, August 15th. Guggenheim downgraded shares of Macy’s from a “buy” rating to a “neutral” rating in a research note on Friday, August 23rd. Finally, ValuEngine raised shares of Macy’s from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $23.83.
In other news, insider C Elisa D. Garcia sold 5,089 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $15.48, for a total value of $78,777.72. Following the transaction, the insider now owns 16,825 shares of the company’s stock, valued at approximately $260,451. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.55% of the company’s stock.
NYSE:M opened at $15.72 on Friday. 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 company has a market cap of $4.61 billion, a P/E ratio of 4.01, a P/E/G ratio of 0.69 and a beta of 0.63. Macy’s Inc has a fifty-two week low of $14.11 and a fifty-two week high of $38.35. The firm’s 50 day moving average is $15.44 and its two-hundred day moving average is $20.40.
Macy’s (NYSE:M) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.28 earnings per share for the quarter, missing the Zacks’ 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 for the quarter, compared to analysts’ expectations of $5.55 billion. During the same period in the prior year, the business earned $0.70 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts forecast that Macy’s Inc will post 2.88 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.377 dividend. This represents a $1.51 dividend on an annualized basis and a dividend yield of 9.59%. The ex-dividend date of this dividend was Thursday, September 12th. Macy’s’s dividend payout ratio is presently 36.12%.
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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