Andra AP fonden increased its position in Macy’s Inc (NYSE:M) by 1.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 254,800 shares of the company’s stock after purchasing an additional 2,800 shares during the period. Andra AP fonden owned about 0.08% of Macy’s worth $8,849,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in Macy’s by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,827,606 shares of the company’s stock worth $367,847,000 after purchasing an additional 25,971 shares during the period. FMR LLC lifted its position in Macy’s by 2.1% in the 2nd quarter. FMR LLC now owns 7,740,157 shares of the company’s stock worth $289,715,000 after buying an additional 162,184 shares in the last quarter. Northern Trust Corp lifted its position in Macy’s by 5.5% in the 2nd quarter. Northern Trust Corp now owns 4,576,899 shares of the company’s stock worth $171,314,000 after buying an additional 238,683 shares in the last quarter. LSV Asset Management lifted its position in Macy’s by 2.0% in the 2nd quarter. LSV Asset Management now owns 4,390,656 shares of the company’s stock worth $164,342,000 after buying an additional 86,065 shares in the last quarter. Finally, Morgan Stanley lifted its position in Macy’s by 82.0% in the 2nd quarter. Morgan Stanley now owns 2,794,839 shares of the company’s stock worth $104,610,000 after buying an additional 1,259,244 shares in the last quarter. 90.30% of the stock is owned by hedge funds and other institutional investors.
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 transaction, the insider now directly owns 10,727 shares in the company, valued at approximately $384,562.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Harry A. Lawton III sold 28,684 shares of the firm’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $36.05, for a total transaction of $1,034,058.20. Following the completion of the transaction, the president now owns 54,722 shares in the company, valued at $1,972,728.10. The disclosure for this sale can be found here. 2.36% of the stock is currently owned by company insiders.
Macy’s (NYSE:M) last released its quarterly earnings results on Wednesday, August 15th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.20. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.55 billion. Macy’s had a net margin of 6.65% and a return on equity of 23.55%. Macy’s’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 EPS. On average, research analysts expect that Macy’s Inc will post 3.93 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, September 14th were issued a dividend of $0.3775 per share. The ex-dividend date was Thursday, September 13th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 4.74%. Macy’s’s dividend payout ratio is currently 40.05%.
A number of equities research analysts have issued reports on the stock. Standpoint Research downgraded shares of Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. Morgan Stanley increased their target price on shares of Macy’s from $25.00 to $27.00 and gave the stock an “underweight” rating in a research report on Thursday, August 16th. Royal Bank of Canada set a $39.00 target price on shares of Macy’s and gave the stock a “hold” rating in a research report on Thursday, August 16th. Zacks Investment Research upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Tuesday, August 28th. Finally, ValuEngine downgraded shares of Macy’s from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $33.35.
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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