Candriam Luxembourg S.C.A. lowered its stake in shares of Macy’s Inc (NYSE:M) by 10.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 665,276 shares of the company’s stock after selling 75,432 shares during the period. Candriam Luxembourg S.C.A. owned approximately 0.22% of Macy’s worth $14,516,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in M. Voya Investment Management LLC boosted its stake in shares of Macy’s by 163.1% in the 2nd quarter. Voya Investment Management LLC now owns 451,225 shares of the company’s stock worth $10,487,000 after buying an additional 279,720 shares during the last quarter. Douglas Lane & Associates LLC lifted its stake in Macy’s by 57.8% in the third quarter. Douglas Lane & Associates LLC now owns 2,243,096 shares of the company’s stock valued at $48,944,000 after purchasing an additional 821,366 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in Macy’s by 48.4% in the second quarter. Neuberger Berman Group LLC now owns 928,351 shares of the company’s stock valued at $21,575,000 after purchasing an additional 302,628 shares during the last quarter. Commonwealth Bank of Australia lifted its stake in Macy’s by 27.8% in the second quarter. Commonwealth Bank of Australia now owns 140,199 shares of the company’s stock valued at $3,257,000 after purchasing an additional 30,500 shares during the last quarter. Finally, Benchmark Capital Advisors purchased a new position in Macy’s in the third quarter valued at approximately $1,335,000. Institutional investors and hedge funds own 81.96% of the company’s stock.
Shares of Macy’s Inc (NYSE M) traded up $0.48 on Friday, hitting $19.98. 28,532,155 shares of the company traded hands, compared to its average volume of 16,006,206. The company has a market capitalization of $5,938.90, a P/E ratio of 6.57, a P/E/G ratio of 0.66 and a beta of 0.86. The company has a quick ratio of 0.34, a current ratio of 1.42 and a debt-to-equity ratio of 1.44. Macy’s Inc has a 12 month low of $17.41 and a 12 month high of $45.41.
Macy’s (NYSE:M) last issued its earnings results on Thursday, November 9th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.04. Macy’s had a net margin of 2.83% and a return on equity of 21.06%. The company had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.31 billion. During the same quarter last year, the company posted $0.17 earnings per share. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. equities analysts predict that Macy’s Inc will post 3.45 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be paid a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 7.56%. The ex-dividend date is Thursday, December 14th. Macy’s’s dividend payout ratio is presently 66.52%.
M has been the topic of several research analyst reports. BidaskClub raised shares of Macy’s from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Vetr cut shares of Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 price target on the stock. in a report on Thursday, July 27th. Wedbush reissued a “hold” rating on shares of Macy’s in a research note on Monday, July 31st. Deutsche Bank AG increased their target price on Macy’s from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, August 8th. Finally, Zacks Investment Research cut Macy’s from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $26.31.
In other news, Director John A. Bryant bought 9,825 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were bought at an average price of $20.32 per share, for a total transaction of $199,644.00. Following the purchase, the director now owns 9,825 shares in the company, valued at $199,644. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.
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Macy’s Company Profile
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
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