Unigestion Holding SA bought a new position in Macy’s Inc (NYSE:M) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 17,711 shares of the company’s stock, valued at approximately $275,000.
A number of other hedge funds have also modified their holdings of the business. General American Investors Co. Inc. increased its holdings in shares of Macy’s by 20.0% during the second quarter. General American Investors Co. Inc. now owns 450,000 shares of the company’s stock valued at $9,657,000 after acquiring an additional 75,000 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Macy’s by 18.2% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 260,290 shares of the company’s stock valued at $5,586,000 after acquiring an additional 40,000 shares in the last quarter. Korea Investment CORP increased its holdings in shares of Macy’s by 33.8% during the second quarter. Korea Investment CORP now owns 182,600 shares of the company’s stock valued at $3,919,000 after acquiring an additional 46,100 shares in the last quarter. Nomura Holdings Inc. increased its holdings in shares of Macy’s by 1.9% during the second quarter. Nomura Holdings Inc. now owns 125,086 shares of the company’s stock valued at $2,675,000 after acquiring an additional 2,330 shares in the last quarter. Finally, Johnson Financial Group Inc. increased its holdings in shares of Macy’s by 40.3% during the second quarter. Johnson Financial Group Inc. now owns 20,613 shares of the company’s stock valued at $442,000 after acquiring an additional 5,923 shares in the last quarter. Institutional investors and hedge funds own 83.96% of the company’s stock.
Shares of NYSE:M traded down $0.34 during mid-day trading on Friday, hitting $15.88. 14,836,278 shares of the company traded hands, compared to its average volume of 10,737,160. The stock has a market cap of $5.16 billion, a P/E ratio of 3.80, a P/E/G ratio of 0.78 and a beta of 0.63. The company has a current ratio of 1.47, a quick ratio of 0.34 and a debt-to-equity ratio of 1.19. Macy’s Inc has a 12-month low of $14.11 and a 12-month high of $38.35. The stock has a 50-day moving average price of $15.43 and a two-hundred day moving average price of $19.13.
Macy’s (NYSE:M) last announced 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). The company had revenue of $5.55 billion for 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 firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.70 EPS. As a group, analysts expect that Macy’s Inc will post 2.86 earnings per share for the current year.
The business also recently announced 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 boost 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 payout ratio is presently 36.12%.
In related news, insider C Elisa D. Garcia sold 5,089 shares of Macy’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $15.48, for a total transaction of $78,777.72. Following the transaction, the insider now owns 16,825 shares of the company’s stock, valued at $260,451. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.55% of the stock is owned by insiders.
Several equities research analysts have recently commented on the company. Credit Suisse Group downgraded Macy’s from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $19.00 to $12.00 in a report on Friday, October 18th. Guggenheim downgraded Macy’s from a “buy” rating to a “neutral” rating in a report on Friday, August 23rd. Telsey Advisory Group restated a “market perform” rating and set a $18.00 price objective (down previously from $25.00) on shares of Macy’s in a report on Thursday, August 15th. Deutsche Bank decreased their price objective on Macy’s from $29.00 to $23.00 and set a “hold” rating for the company in a report on Thursday, August 15th. Finally, Zacks Investment Research upgraded Macy’s from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Wednesday, October 16th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $20.75.
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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