Chicago Equity Partners LLC grew its position in Macy’s Inc (NYSE:M) by 35.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 138,610 shares of the company’s stock after acquiring an additional 36,090 shares during the period. Chicago Equity Partners LLC’s holdings in Macy’s were worth $5,188,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Prudential Financial Inc. raised its position in shares of Macy’s by 235.8% during the 1st quarter. Prudential Financial Inc. now owns 5,000,234 shares of the company’s stock worth $148,706,000 after purchasing an additional 3,511,323 shares during the last quarter. BlackRock Inc. raised its position in shares of Macy’s by 10.6% during the 1st quarter. BlackRock Inc. now owns 27,873,644 shares of the company’s stock worth $828,961,000 after purchasing an additional 2,667,028 shares during the last quarter. American Century Companies Inc. acquired a new position in shares of Macy’s during the 2nd quarter worth about $51,041,000. Robeco Institutional Asset Management B.V. raised its position in shares of Macy’s by 1,627.9% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,158,569 shares of the company’s stock worth $34,458,000 after purchasing an additional 1,091,520 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Macy’s by 13.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,864,888 shares of the company’s stock worth $263,642,000 after purchasing an additional 1,064,651 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.
Macy’s stock opened at $36.21 on Thursday. Macy’s Inc has a 1-year low of $17.41 and a 1-year high of $41.99. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.53 and a quick ratio of 0.43. The company has a market capitalization of $11.12 billion, a PE ratio of 8.81, a PEG ratio of 1.08 and a beta of 0.79.
Macy’s (NYSE:M) last posted its quarterly earnings results on Wednesday, August 15th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.20. Macy’s had a net margin of 6.65% and a return on equity of 23.55%. The business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.55 billion. During the same quarter in the prior year, the company posted $0.48 EPS. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. equities analysts forecast that Macy’s Inc will post 3.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 14th will be paid a $0.3775 dividend. The ex-dividend date is Thursday, September 13th. This represents a $1.51 annualized dividend and a dividend yield of 4.17%. Macy’s’s dividend payout ratio (DPR) is 40.05%.
Several analysts recently issued reports on M shares. Zacks Investment Research cut shares of Macy’s from a “buy” rating to a “hold” rating in a research note on Thursday, August 23rd. Atlantic Securities cut shares of Macy’s from an “overweight” rating to a “neutral” rating and set a $39.00 price objective for the company. in a research note on Wednesday, June 6th. They noted that the move was a valuation call. Standpoint Research cut shares of Macy’s from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Evercore ISI upped their price objective on shares of Macy’s from $17.41 to $36.00 and gave the company a “buy” rating in a research note on Monday, June 4th. Finally, Deutsche Bank upped their price objective on shares of Macy’s from $33.00 to $35.00 and gave the company a “hold” rating in a research note on Thursday, August 16th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $33.61.
In other news, Director William H. Lenehan purchased 2,092 shares of the company’s stock in a transaction dated Friday, August 17th. The stock was acquired at an average price of $35.78 per share, with a total value of $74,851.76. Following the purchase, the director now directly owns 8,060 shares in the company, valued at approximately $288,386.80. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.36% of the company’s stock.
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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