Standard Life Aberdeen plc lowered its stake in shares of Macy’s Inc (NYSE:M) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 751,141 shares of the company’s stock after selling 18,415 shares during the period. Standard Life Aberdeen plc owned 0.24% of Macy’s worth $26,088,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Princeton Capital Management LLC purchased a new position in Macy’s in the 3rd quarter valued at approximately $104,000. Baker Ellis Asset Management LLC purchased a new position in Macy’s in the 2nd quarter valued at approximately $112,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Macy’s in the 2nd quarter valued at approximately $116,000. First Hawaiian Bank purchased a new position in Macy’s in the 3rd quarter valued at approximately $147,000. Finally, Qube Research & Technologies Ltd purchased a new position in Macy’s in the 2nd quarter valued at approximately $150,000. Institutional investors own 92.58% of the company’s stock.
In related news, President Harry A. Lawton III sold 28,684 shares of the business’s stock in a transaction dated 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 transaction, the president now owns 54,722 shares in the company, valued at $1,972,728.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William H. Lenehan purchased 3,154 shares of Macy’s stock in a transaction that occurred on Friday, November 16th. The shares were bought at an average price of $31.74 per share, for a total transaction of $100,107.96. Following the transaction, the director now directly owns 11,214 shares of the company’s stock, valued at $355,932.36. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 233,312 shares of company stock valued at $7,817,972. Insiders own 2.36% of the company’s stock.
Macy’s stock opened at $32.42 on Wednesday. The company has a quick ratio of 0.24, a current ratio of 1.35 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $10.50 billion, a price-to-earnings ratio of 8.60, a price-to-earnings-growth ratio of 0.99 and a beta of 0.56. Macy’s Inc has a twelve month low of $22.47 and a twelve month high of $41.99.
Macy’s (NYSE:M) last posted its quarterly earnings results on Wednesday, November 14th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.13. The business had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.40 billion. Macy’s had a net margin of 6.72% and a return on equity of 22.33%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 earnings per share. On average, equities analysts anticipate that Macy’s Inc will post 4.08 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be paid a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 4.66%. The ex-dividend date of this dividend is Thursday, December 13th. Macy’s’s dividend payout ratio (DPR) is 40.05%.
A number of research analysts recently weighed in on M shares. Zacks Investment Research upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Wednesday, October 3rd. Goldman Sachs Group began coverage on shares of Macy’s in a research report on Monday, September 3rd. They set a “sell” rating and a $33.00 price target for the company. ValuEngine lowered shares of Macy’s from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Cowen boosted their price target on shares of Macy’s from $35.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, August 16th. Finally, Royal Bank of Canada set a $39.00 price target on shares of Macy’s and gave the company a “hold” rating in a research report on Thursday, August 16th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Macy’s currently has an average rating of “Hold” and a consensus price target of $34.91.
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.
Further Reading: Why do companies issue stock splits?
Want to see what other hedge funds are holding M? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macy’s Inc (NYSE:M).
Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter.