Laurion Capital Management LP lessened its holdings in shares of Macy’s Inc (NYSE:M) by 81.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 70,029 shares of the company’s stock after selling 307,826 shares during the quarter. Laurion Capital Management LP’s holdings in Macy’s were worth $2,621,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its stake in shares of Macy’s by 10.6% in the 1st quarter. BlackRock Inc. now owns 27,873,644 shares of the company’s stock valued at $828,961,000 after purchasing an additional 2,667,028 shares during the period. American Century Companies Inc. acquired a new stake in shares of Macy’s in the second quarter valued at about $51,041,000. Dimensional Fund Advisors LP increased its position in shares of Macy’s by 13.6% in the first quarter. Dimensional Fund Advisors LP now owns 8,864,888 shares of the company’s stock valued at $263,642,000 after acquiring an additional 1,064,651 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Macy’s by 73.5% during the second quarter. Robeco Institutional Asset Management B.V. now owns 2,009,924 shares of the company’s stock worth $75,330,000 after purchasing an additional 851,355 shares during the period. Finally, Apertura Capital LLC bought a new position in Macy’s during the first quarter worth about $17,202,000. 90.32% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently commented on M shares. Royal Bank of Canada set a $35.00 price target on Macy’s and gave the stock a “hold” rating in a report on Thursday, May 17th. Cowen lifted their price target on Macy’s from $35.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, August 16th. UBS Group started coverage on Macy’s in a report on Thursday, June 21st. They set a “neutral” rating and a $39.00 price target for the company. Zacks Investment Research cut Macy’s from a “buy” rating to a “hold” rating in a report on Thursday, August 23rd. Finally, Goldman Sachs Group started coverage on Macy’s in a report on Monday, September 3rd. They set a “sell” rating and a $33.00 price target for the company. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $33.57.
Shares of M opened at $35.51 on Monday. Macy’s Inc has a one year low of $17.41 and a one year high of $41.99. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 1.06 and a beta of 0.70. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.53 and a quick ratio of 0.43.
Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, August 15th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.50 by $0.20. Macy’s had a net margin of 6.65% and a return on equity of 23.55%. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same period in the previous year, the business earned $0.48 earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. sell-side analysts anticipate that Macy’s Inc will post 3.93 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be paid a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.51 annualized dividend and a dividend yield of 4.25%. Macy’s’s dividend payout ratio is 40.05%.
In other news, Director William H. Lenehan purchased 2,092 shares of the business’s stock in a transaction on Friday, August 17th. The shares were acquired at an average price of $35.78 per share, with a total value of $74,851.76. Following the completion of the transaction, the director now owns 8,060 shares of the company’s stock, valued at approximately $288,386.80. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.36% of the company’s stock.
Macy’s Company Profile
Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.
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