Investors Sell Macy’s Inc (M) on Strength (M)

Investors sold shares of Macy’s Inc (NYSE:M) on strength during trading hours on Friday. $91.62 million flowed into the stock on the tick-up and $129.04 million flowed out of the stock on the tick-down, for a money net flow of $37.42 million out of the stock. Of all equities tracked, Macy’s had the 0th highest net out-flow for the day. Macy’s traded up $0.48 for the day and closed at $19.98

Several brokerages recently commented on M. BMO Capital Markets set a $36.00 price objective on shares of Macy’s and gave the company a “buy” rating in a research report on Friday, August 11th. Vetr downgraded shares of Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 price objective on the stock. in a research report on Thursday, July 27th. ValuEngine raised shares of Macy’s from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Susquehanna Bancshares Inc set a $38.00 price objective on shares of Macy’s and gave the company a “buy” rating in a research report on Friday, October 20th. Finally, BidaskClub raised shares of Macy’s from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $26.31.

The company has a debt-to-equity ratio of 1.44, a current ratio of 1.42 and a quick ratio of 0.34. The firm has a market cap of $6,085.09, a P/E ratio of 6.73, a price-to-earnings-growth ratio of 0.68 and a beta of 0.86.

Macy’s (NYSE:M) last released its earnings results on Thursday, November 9th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. Macy’s had a net margin of 2.83% and a return on equity of 21.06%. The company had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.31 billion. During the same quarter last year, the business earned $0.17 EPS. The firm’s revenue was down 6.1% compared to the same quarter last year. equities analysts expect that Macy’s Inc will post 3.39 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be paid a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 7.56%. The ex-dividend date of this dividend is Thursday, December 14th. Macy’s’s payout ratio is 66.52%.

In other news, Director John A. Bryant bought 9,825 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were bought at an average price of $20.32 per share, for a total transaction of $199,644.00. Following the purchase, the director now owns 9,825 shares in the company, valued at $199,644. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN grew its holdings in Macy’s by 7.0% during the 3rd quarter. Wells Fargo & Company MN now owns 1,279,451 shares of the company’s stock valued at $27,917,000 after buying an additional 84,147 shares in the last quarter. Cadence Capital Management LLC grew its holdings in Macy’s by 47.2% during the 3rd quarter. Cadence Capital Management LLC now owns 106,416 shares of the company’s stock valued at $2,322,000 after buying an additional 34,116 shares in the last quarter. Legal & General Group Plc grew its holdings in Macy’s by 4.2% during the 3rd quarter. Legal & General Group Plc now owns 2,037,917 shares of the company’s stock valued at $44,480,000 after buying an additional 82,642 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in Macy’s by 10.5% during the 3rd quarter. Great West Life Assurance Co. Can now owns 499,643 shares of the company’s stock valued at $10,982,000 after buying an additional 47,557 shares in the last quarter. Finally, Trustmark National Bank Trust Department purchased a new stake in Macy’s during the 3rd quarter valued at approximately $2,585,000. 81.96% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: This piece of content was published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this piece of content on another site, it was stolen and republished in violation of U.S. and international copyright legislation. The legal version of this piece of content can be viewed at https://www.chaffeybreeze.com/2017/11/12/investors-sell-macys-inc-m-on-strength-m.html.

Macy’s Company Profile

Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.

Receive News & Ratings for Macy's Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply