Macy’s Target of Unusually High Options Trading (M)
Macy’s Inc (NYSE:M) was the recipient of some unusual options trading on Wednesday. Traders purchased 813 put options on the stock. This is an increase of 166% compared to the typical daily volume of 306 put options.
M has been the topic of several analyst reports. Susquehanna Bancshares Inc set a $38.00 target price on Macy’s and gave the stock a “buy” rating in a report on Friday, October 20th. Zacks Investment Research downgraded Macy’s from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Royal Bank Of Canada set a $21.00 target price on Macy’s and gave the stock a “sector perform” rating in a report on Friday, October 20th. BidaskClub raised Macy’s from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, ValuEngine raised Macy’s from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.31.
In other Macy’s news, Director John A. Bryant bought 9,825 shares of Macy’s stock in a transaction dated Wednesday, August 23rd. The shares were purchased at an average cost of $20.32 per share, with a total value of $199,644.00. Following the completion of the purchase, the director now owns 9,825 shares of the company’s stock, valued at $199,644. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ffcm LLC boosted its stake in Macy’s by 251.6% during the second quarter. Ffcm LLC now owns 5,052 shares of the company’s stock valued at $120,000 after buying an additional 3,615 shares during the last quarter. Penserra Capital Management LLC boosted its stake in Macy’s by 51.1% during the second quarter. Penserra Capital Management LLC now owns 5,560 shares of the company’s stock valued at $129,000 after buying an additional 1,880 shares during the last quarter. Financial Architects Inc boosted its stake in Macy’s by 254.5% during the second quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock valued at $136,000 after buying an additional 4,200 shares during the last quarter. Edge Wealth Management LLC bought a new position in Macy’s during the second quarter valued at approximately $142,000. Finally, Kistler Tiffany Companies LLC bought a new position in Macy’s during the third quarter valued at approximately $148,000. 82.22% of the stock is owned by hedge funds and other institutional investors.
Shares of Macy’s (NYSE:M) opened at $18.36 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.42 and a quick ratio of 0.34. The stock has a market capitalization of $5.72 billion, a P/E ratio of 6.45, a PEG ratio of 0.66 and a beta of 0.86.
Macy’s (NYSE:M) last released its quarterly earnings data on Thursday, August 10th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.52 billion. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.51 earnings per share. analysts forecast that Macy’s will post 3.35 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be paid a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a dividend yield of 8.22%. The ex-dividend date is Thursday, December 14th. Macy’s’s dividend payout ratio (DPR) is 68.64%.
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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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