BB&T Securities LLC decreased its holdings in Macy’s Inc (NYSE:M) by 10.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,234 shares of the company’s stock after selling 6,517 shares during the quarter. BB&T Securities LLC’s holdings in Macy’s were worth $2,104,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. lifted its stake in Macy’s by 10.6% in the first quarter. BlackRock Inc. now owns 27,873,644 shares of the company’s stock worth $828,961,000 after acquiring an additional 2,667,028 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Macy’s by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 9,827,606 shares of the company’s stock worth $367,847,000 after acquiring an additional 25,971 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Macy’s by 13.6% in the first quarter. Dimensional Fund Advisors LP now owns 8,864,888 shares of the company’s stock worth $263,642,000 after acquiring an additional 1,064,651 shares during the last quarter. FMR LLC lifted its stake in Macy’s by 2.1% in the second quarter. FMR LLC now owns 7,740,157 shares of the company’s stock worth $289,715,000 after acquiring an additional 162,184 shares during the last quarter. Finally, LSV Asset Management lifted its stake in Macy’s by 2.0% in the second quarter. LSV Asset Management now owns 4,390,656 shares of the company’s stock worth $164,342,000 after acquiring an additional 86,065 shares during the last quarter. 90.32% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on M. UBS Group upgraded shares of Macy’s from a “neutral” rating to a “positive” rating in a research note on Tuesday, May 22nd. Susquehanna Bancshares upgraded shares of Macy’s from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $25.00 to $43.00 in a research note on Tuesday, May 22nd. Deutsche Bank set a $33.00 price objective on shares of Macy’s and gave the stock a “hold” rating in a research report on Monday, May 21st. Cowen restated a “hold” rating on shares of Macy’s in a research report on Thursday, June 7th. Finally, Zacks Investment Research downgraded shares of Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, July 20th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $33.57.
In other news, President Harry A. Lawton III sold 28,684 shares of Macy’s stock in a transaction on 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 transaction, the president now directly owns 54,722 shares of the company’s stock, valued at approximately $1,972,728.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William H. Lenehan bought 2,092 shares of the business’s stock in a transaction dated Friday, August 17th. The stock was acquired at an average cost of $35.78 per share, for a total transaction of $74,851.76. Following the completion of the acquisition, the director now directly owns 8,060 shares in the company, valued at $288,386.80. The disclosure for this purchase can be found here. Insiders own 2.36% of the company’s stock.
Shares of NYSE:M opened at $36.27 on Friday. The company has a market cap of $11.17 billion, a PE ratio of 9.62, a P/E/G ratio of 1.09 and a beta of 0.69. The company has a quick ratio of 0.43, a current ratio of 1.53 and a debt-to-equity ratio of 0.93. Macy’s Inc has a twelve month low of $17.41 and a twelve month high of $41.99.
Macy’s (NYSE:M) last announced its earnings results on Wednesday, August 15th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.20. The business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.55 billion. Macy’s had a net margin of 6.65% and a return on equity of 23.55%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 EPS. equities research analysts forecast that Macy’s Inc will post 3.93 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 14th will be issued a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 4.16%. Macy’s’s payout ratio is 40.05%.
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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