Swiss National Bank increased its stake in shares of Macy’s Inc (NYSE:M) by 3.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,007,812 shares of the company’s stock after purchasing an additional 34,200 shares during the quarter. Swiss National Bank owned 0.33% of Macy’s worth $37,722,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of M. Point72 Asia Hong Kong Ltd lifted its holdings in Macy’s by 10,087.2% in the first quarter. Point72 Asia Hong Kong Ltd now owns 3,973 shares of the company’s stock valued at $118,000 after acquiring an additional 3,934 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings in Macy’s by 78.4% in the first quarter. Harvest Fund Management Co. Ltd now owns 4,067 shares of the company’s stock valued at $120,000 after acquiring an additional 1,787 shares during the period. Beese Fulmer Investment Management Inc. acquired a new stake in Macy’s in the second quarter valued at $212,000. Tradition Capital Management LLC acquired a new stake in Macy’s in the second quarter valued at $225,000. Finally, Park Avenue Securities LLC acquired a new stake in Macy’s in the second quarter valued at $221,000. 90.39% of the stock is owned by hedge funds and other institutional investors.
Macy’s stock opened at $36.21 on Thursday. The stock has a market cap of $11.12 billion, a P/E ratio of 8.81, a P/E/G ratio of 1.08 and a beta of 0.79. Macy’s Inc has a 52 week low of $17.41 and a 52 week 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.
Macy’s (NYSE:M) last posted its quarterly earnings data on Wednesday, August 15th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.20. The firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.55 billion. Macy’s had a return on equity of 23.55% and a net margin of 6.65%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 EPS. sell-side analysts forecast that Macy’s Inc will post 3.95 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be given a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date is Thursday, September 13th. Macy’s’s dividend payout ratio is presently 40.05%.
A number of brokerages have recently weighed in on M. Royal Bank of Canada set a $35.00 price target on Macy’s and gave the company a “hold” rating in a research report on Thursday, May 17th. Cowen raised their price target on Macy’s from $35.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, August 16th. UBS Group began coverage on Macy’s in a research report on Thursday, June 21st. They issued a “neutral” rating and a $39.00 price target for the company. Zacks Investment Research cut Macy’s from a “buy” rating to a “hold” rating in a research report on Thursday, August 23rd. Finally, Deutsche Bank raised their price target on Macy’s from $33.00 to $35.00 and gave the company a “hold” rating in a research report on Thursday, August 16th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $33.61.
In other Macy’s news, Director William H. Lenehan purchased 2,092 shares of the stock in a transaction on Friday, August 17th. The stock was bought at an average price of $35.78 per share, for a total transaction of $74,851.76. Following the acquisition, the director now directly owns 8,060 shares of the company’s stock, valued at $288,386.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company 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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