TCW Group Inc. increased its holdings in shares of Macy’s Inc (NYSE:M) by 14.9% in the 1st quarter, Holdings Channel reports. The firm owned 12,591 shares of the company’s stock after acquiring an additional 1,635 shares during the quarter. TCW Group Inc.’s holdings in Macy’s were worth $303,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Liberty Wealth Management LLC acquired a new position in Macy’s during the fourth quarter worth $34,000. Avestar Capital LLC grew its holdings in Macy’s by 2,168.2% in the first quarter. Avestar Capital LLC now owns 1,497 shares of the company’s stock valued at $35,000 after purchasing an additional 1,431 shares during the last quarter. Braun Bostich & Associates Inc. grew its holdings in Macy’s by 155.0% in the fourth quarter. Braun Bostich & Associates Inc. now owns 1,660 shares of the company’s stock valued at $49,000 after purchasing an additional 1,009 shares during the last quarter. NuWave Investment Management LLC grew its holdings in Macy’s by 730.4% in the first quarter. NuWave Investment Management LLC now owns 1,777 shares of the company’s stock valued at $43,000 after purchasing an additional 1,563 shares during the last quarter. Finally, Destination Wealth Management grew its holdings in Macy’s by 27.1% in the first quarter. Destination Wealth Management now owns 2,344 shares of the company’s stock valued at $56,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.
Macy’s stock opened at $21.77 on Friday. The stock has a market capitalization of $6.63 billion, a PE ratio of 5.21, a PEG ratio of 0.92 and a beta of 0.50. The company has a current ratio of 1.42, a quick ratio of 0.32 and a debt-to-equity ratio of 1.19. Macy’s Inc has a 12 month low of $20.02 and a 12 month high of $41.99.
Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, May 15th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.11. The company had revenue of $5.50 billion for the quarter, compared to the consensus estimate of $5.52 billion. Macy’s had a return on equity of 20.66% and a net margin of 4.43%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the business posted $0.48 EPS. On average, equities analysts forecast that Macy’s Inc will post 3.12 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 6.94%. Macy’s’s dividend payout ratio (DPR) is 36.12%.
In related news, President Harry A. Lawton III bought 5,000 shares of the stock in a transaction dated Thursday, May 23rd. The stock was acquired at an average price of $21.37 per share, for a total transaction of $106,850.00. Following the completion of the purchase, the president now owns 31,038 shares in the company, valued at $663,282.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Francis S. Blake bought 10,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was bought at an average price of $21.63 per share, with a total value of $216,300.00. Following the purchase, the director now owns 2,200 shares of the company’s stock, valued at approximately $47,586. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 20,000 shares of company stock worth $432,950 and sold 16,921 shares worth $421,238. Company insiders own 0.55% of the company’s stock.
A number of analysts recently commented on M shares. UBS Group set a $25.00 price objective on Macy’s and gave the company a “hold” rating in a research note on Friday, May 17th. Zacks Investment Research raised Macy’s from a “sell” rating to a “hold” rating in a research note on Thursday, May 16th. Deutsche Bank increased their price objective on Macy’s from $27.00 to $28.00 and gave the company a “hold” rating in a research note on Thursday, May 16th. Goldman Sachs Group raised Macy’s from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $21.00 in a research note on Thursday, May 16th. Finally, Standpoint Research raised Macy’s from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. Macy’s presently has a consensus rating of “Hold” and a consensus price target of $26.58.
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Macy’s Company Profile
Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.
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