Macy’s Inc (M) Shares Sold by Standard Life Aberdeen plc

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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.

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Macy’s 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.

Further Reading: Why do companies issue stock splits?

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Institutional Ownership by Quarter for Macy`s (NYSE:M)

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