Macy’s Inc (NYSE:M) was the recipient of some unusual options trading activity on Wednesday. Stock traders acquired 813 put options on the company. This is an increase of 166% compared to the average daily volume of 306 put options.

Shares of Macy’s (M) opened at 22.58 on Friday. Macy’s has a 52-week low of $19.32 and a 52-week high of $45.41. The stock has a market cap of $6.88 billion, a PE ratio of 10.26 and a beta of 0.83. The stock’s 50 day moving average is $21.64 and its 200 day moving average is $25.07.

Macy’s (NYSE:M) last issued its earnings results on Thursday, August 10th. The company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. Macy’s had a net margin of 2.71% and a return on equity of 21.38%. The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the prior year, the business earned $0.51 earnings per share. Macy’s’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts forecast that Macy’s will post $3.38 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be given a dividend of $0.3775 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 6.69%. Macy’s’s dividend payout ratio is 68.64%.

A number of research analysts have recently weighed in on the stock. Vetr raised shares of Macy’s from a “buy” rating to a “strong-buy” rating and set a $26.51 target price for the company in a research report on Wednesday, August 2nd. BMO Capital Markets set a $36.00 target price on shares of Macy’s and gave the company a “buy” rating in a research report on Friday, August 11th. Citigroup Inc. reduced their target price on shares of Macy’s from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, June 9th. Cowen and Company reaffirmed a “market perform” rating and issued a $23.00 price objective (down from $26.00) on shares of Macy’s in a report on Friday, August 11th. Finally, BidaskClub downgraded shares of Macy’s from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $27.63.

In related news, Director John A. Bryant bought 9,825 shares of Macy’s stock in a transaction dated Wednesday, August 23rd. The stock was purchased at an average cost of $20.32 per share, with a total value of $199,644.00. Following the transaction, the director now directly owns 9,825 shares of the company’s stock, valued at $199,644. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of M. Penserra Capital Management LLC boosted its position in shares of Macy’s by 9.5% during the first quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock worth $109,000 after acquiring an additional 320 shares during the last quarter. Ffcm LLC boosted its position in shares of Macy’s by 251.6% during the second quarter. Ffcm LLC now owns 5,052 shares of the company’s stock worth $120,000 after acquiring an additional 3,615 shares during the last quarter. Financial Architects Inc boosted its position in shares of Macy’s by 254.5% during the second quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock worth $136,000 after acquiring an additional 4,200 shares during the last quarter. Edge Wealth Management LLC bought a new position in shares of Macy’s during the second quarter worth $142,000. Finally, Pacer Advisors Inc. boosted its position in shares of Macy’s by 3.2% during the first quarter. Pacer Advisors Inc. now owns 6,500 shares of the company’s stock worth $193,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 81.71% 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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