AMP Capital Investors Ltd raised its stake in Macy’s Inc. (NYSE:M) by 33.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 138,926 shares of the company’s stock after acquiring an additional 34,442 shares during the period. AMP Capital Investors Ltd’s holdings in Macy’s were worth $3,502,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American International Group Inc. boosted its position in shares of Macy’s by 98.9% during the fourth quarter. American International Group Inc. now owns 23,923,612 shares of the company’s stock valued at $602,636,000 after buying an additional 11,894,858 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Macy’s by 28.0% during the fourth quarter. Bank of New York Mellon Corp now owns 10,653,773 shares of the company’s stock valued at $268,367,000 after buying an additional 2,328,072 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Macy’s by 75.3% during the third quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company’s stock valued at $109,392,000 after buying an additional 2,153,110 shares during the last quarter. QV Investors Inc. purchased a new stake in shares of Macy’s during the fourth quarter valued at $45,737,000. Finally, Hexavest Inc. purchased a new stake in shares of Macy’s during the fourth quarter valued at $42,332,000. 86.88% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE M traded down $0.17 during trading on Thursday, hitting $28.90. The company had a trading volume of 6,004,100 shares, compared to its average volume of 10,690,848. The company has a quick ratio of 0.45, a current ratio of 1.47 and a debt-to-equity ratio of 1.04. Macy’s Inc. has a 12 month low of $17.41 and a 12 month high of $31.04. The company has a market capitalization of $8,930.64, a P/E ratio of 7.67, a price-to-earnings-growth ratio of 0.95 and a beta of 0.75.
Macy’s (NYSE:M) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.71 by $0.11. Macy’s had a return on equity of 24.93% and a net margin of 6.23%. The firm had revenue of $8.67 billion for the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter last year, the company earned $2.02 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. research analysts anticipate that Macy’s Inc. will post 3.63 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Thursday, March 15th were paid a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a yield of 5.22%. The ex-dividend date was Wednesday, March 14th. Macy’s’s dividend payout ratio (DPR) is presently 40.05%.
In related news, CFO Karen M. Hoguet sold 67,515 shares of Macy’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $29.39, for a total transaction of $1,984,265.85. Following the sale, the chief financial officer now owns 67,515 shares of the company’s stock, valued at approximately $1,984,265.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Felicia Williams sold 10,000 shares of Macy’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $29.42, for a total value of $294,200.00. Following the sale, the executive vice president now directly owns 10,000 shares in the company, valued at approximately $294,200. The disclosure for this sale can be found here. Insiders have sold a total of 107,392 shares of company stock worth $3,173,164 in the last three months. 1.40% of the stock is owned by corporate insiders.
Several equities research analysts recently commented on M shares. Guggenheim reaffirmed a “buy” rating and set a $27.00 price objective on shares of Macy’s in a research report on Friday, December 15th. Vetr raised Macy’s from a “buy” rating to a “strong-buy” rating and set a $27.57 target price on the stock in a research report on Monday, December 18th. OTR Global raised Macy’s to a “sell” rating in a research report on Monday, December 18th. Telsey Advisory Group raised their target price on Macy’s from $25.00 to $28.00 and gave the stock a “market perform” rating in a research report on Thursday, December 28th. Finally, ValuEngine cut Macy’s from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $26.60.
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Macy's, Inc, together with its subsidiaries, operates stores, Websites, and mobile applications. Its stores and Websites sell a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. The company also operates stores that offer a range of women's, men's, and children's apparel; shoes; fashion accessories; housewares; home textiles; intimate apparel; and jewelry.
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