AMP Capital Investors Ltd Purchases 38,789 Shares of Macy’s Inc (M)

AMP Capital Investors Ltd increased its position in Macy’s Inc (NYSE:M) by 22.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 208,649 shares of the company’s stock after purchasing an additional 38,789 shares during the period. AMP Capital Investors Ltd owned 0.07% of Macy’s worth $7,809,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Glen Harbor Capital Management LLC grew its stake in shares of Macy’s by 165.7% in the second quarter. Glen Harbor Capital Management LLC now owns 106,148 shares of the company’s stock worth $3,973,000 after acquiring an additional 66,198 shares during the last quarter. Rampart Investment Management Company LLC grew its stake in shares of Macy’s by 988.0% in the second quarter. Rampart Investment Management Company LLC now owns 97,515 shares of the company’s stock worth $3,650,000 after acquiring an additional 88,552 shares during the last quarter. IBM Retirement Fund purchased a new stake in shares of Macy’s in the second quarter worth $217,000. OppenheimerFunds Inc. grew its stake in shares of Macy’s by 9.7% in the second quarter. OppenheimerFunds Inc. now owns 1,035,129 shares of the company’s stock worth $38,745,000 after acquiring an additional 91,885 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Macy’s by 11.4% in the second quarter. Van ECK Associates Corp now owns 26,239 shares of the company’s stock worth $982,000 after acquiring an additional 2,694 shares during the last quarter. 90.32% of the stock is currently owned by institutional investors.

In other news, Director William H. Lenehan bought 2,092 shares of the stock in a transaction on Friday, August 17th. The shares were bought at an average price of $35.78 per share, with a total value of $74,851.76. Following the completion of the acquisition, the director now owns 8,060 shares in the company, valued at $288,386.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Harry A. Lawton III sold 28,684 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $36.05, for a total value of $1,034,058.20. Following the completion of the transaction, the president now directly owns 54,722 shares in the company, valued at approximately $1,972,728.10. The disclosure for this sale can be found here. Corporate insiders own 2.36% of the company’s stock.

Shares of NYSE:M opened at $35.74 on Friday. The firm has a market cap of $11.17 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 1.09 and a beta of 0.69. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.43 and a current ratio of 1.53. Macy’s Inc has a 1 year low of $17.41 and a 1 year high of $41.99.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, August 15th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.20. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.55 billion. Macy’s had a return on equity of 23.55% and a net margin of 6.65%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 earnings per share. research analysts predict that Macy’s Inc will post 3.93 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 14th will be issued a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend is Thursday, September 13th. Macy’s’s payout ratio is currently 40.05%.

A number of research firms have recently commented on M. UBS Group raised Macy’s from a “neutral” rating to a “positive” rating in a research note on Tuesday, May 22nd. Susquehanna Bancshares raised Macy’s from a “neutral” rating to a “buy” rating and increased their target price for the stock from $25.00 to $43.00 in a research note on Tuesday, May 22nd. Royal Bank of Canada set a $35.00 target price on Macy’s and gave the stock a “hold” rating in a research note on Thursday, May 17th. Deutsche Bank set a $33.00 target price on Macy’s and gave the stock a “hold” rating in a research note on Monday, May 21st. Finally, Telsey Advisory Group increased their target price on Macy’s from $31.00 to $35.00 and gave the stock a “market perform” rating in a research note on Thursday, May 17th. Four 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 presently has an average rating of “Hold” and an average price target of $33.57.

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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