Macy's Sees Unusually High Options Volume (M)
Macy's Inc (NYSE:M) saw some unusual options trading on Monday. Stock traders acquired 2,561 call options on the stock. This is an increase of approximately 157% compared to the typical daily volume of 998 call options.
Shares of Macy's (NYSE:M) traded up 2.78% during trading on Monday, hitting $23.65. 4,607,752 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $28.04 and a 200-day moving average price of $32.99. The stock has a market cap of $7.20 billion, a P/E ratio of 12.76 and a beta of 0.79. Macy's has a one year low of $22.43 and a one year high of $45.41.
Macy's (NYSE:M) last announced its quarterly earnings results on Thursday, May 11th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.36 by $0.12. Macy's had a return on equity of 24.83% and a net margin of 2.63%. The business had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.49 billion. During the same period in the previous year, the company posted $0.40 EPS. Macy's’s revenue for the quarter was down 7.5% on a year-over-year basis. Equities research analysts expect that Macy's will post $3.33 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th will be given a $0.3775 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $1.51 annualized dividend and a dividend yield of 6.56%. Macy's’s payout ratio is presently 69.27%.
In other news, EVP Felicia Williams sold 1,697 shares of Macy's stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $28.55, for a total value of $48,449.35. Following the completion of the transaction, the executive vice president now directly owns 1,697 shares of the company’s stock, valued at approximately $48,449.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Molly Langenstein sold 1,251 shares of Macy's stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $28.55, for a total value of $35,716.05. Following the completion of the transaction, the insider now directly owns 6,414 shares of the company’s stock, valued at $183,119.70. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
Large investors have recently made changes to their positions in the company. Affinity Investment Advisors LLC purchased a new position in Macy's during the third quarter valued at approximately $4,627,000. ICM Asset Management Inc. WA raised its position in Macy's by 8.1% in the third quarter. ICM Asset Management Inc. WA now owns 48,360 shares of the company’s stock valued at $1,792,000 after buying an additional 3,630 shares during the period. Lucus Advisors LLC raised its position in Macy's by 5.6% in the third quarter. Lucus Advisors LLC now owns 10,867 shares of the company’s stock valued at $403,000 after buying an additional 577 shares during the period. AMG National Trust Bank raised its position in Macy's by 11.2% in the third quarter. AMG National Trust Bank now owns 83,932 shares of the company’s stock valued at $3,109,000 after buying an additional 8,421 shares during the period. Finally, Toronto Dominion Bank raised its position in Macy's by 76,629.7% in the third quarter. Toronto Dominion Bank now owns 1,309,009 shares of the company’s stock valued at $48,499,000 after buying an additional 1,307,303 shares during the period. 86.28% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently commented on M shares. Buckingham Research lowered Macy's from a “buy” rating to a “neutral” rating and set a $30.00 target price for the company. in a research report on Tuesday, January 31st. Vetr raised Macy's from a “buy” rating to a “strong-buy” rating and set a $30.62 price objective for the company in a report on Thursday, May 11th. Gordon Haskett initiated coverage on Macy's in a report on Tuesday, May 9th. They set a “hold” rating and a $29.00 price objective for the company. OTR Global lowered Macy's to a “sell” rating in a report on Friday, February 3rd. Finally, Zacks Investment Research lowered Macy's from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $34.55.
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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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