Robeco Institutional Asset Management B.V. grew its holdings in Macy’s Inc (NYSE:M) by 87.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,760,431 shares of the company’s stock after purchasing an additional 1,750,507 shares during the quarter. Robeco Institutional Asset Management B.V. owned 1.23% of Macy’s worth $130,745,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of M. Nissay Asset Management Corp Japan ADV raised its holdings in Macy’s by 4.9% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 28,887 shares of the company’s stock valued at $1,081,000 after acquiring an additional 1,337 shares in the last quarter. Whittier Trust Co. raised its holdings in Macy’s by 21.1% in the second quarter. Whittier Trust Co. now owns 7,966 shares of the company’s stock valued at $462,000 after acquiring an additional 1,390 shares in the last quarter. Amalgamated Bank raised its holdings in Macy’s by 3.7% in the second quarter. Amalgamated Bank now owns 39,333 shares of the company’s stock valued at $1,472,000 after acquiring an additional 1,402 shares in the last quarter. Nwam LLC raised its holdings in Macy’s by 19.9% in the third quarter. Nwam LLC now owns 9,470 shares of the company’s stock valued at $329,000 after acquiring an additional 1,572 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd raised its holdings in Macy’s by 39.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 5,655 shares of the company’s stock valued at $196,000 after acquiring an additional 1,588 shares in the last quarter. 91.27% of the stock is owned by institutional investors and hedge funds.
M has been the topic of a number of research analyst reports. Standpoint Research cut shares of Macy’s from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Morgan Stanley raised their price objective on shares of Macy’s from $25.00 to $27.00 and gave the stock an “underweight” rating in a report on Thursday, August 16th. Royal Bank of Canada set a $39.00 price objective on shares of Macy’s and gave the stock a “hold” rating in a report on Thursday, August 16th. Zacks Investment Research raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Tuesday, August 28th. Finally, ValuEngine cut shares of Macy’s from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $34.37.
In other news, insider C Elisa D. Garcia sold 4,628 shares of the business’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $35.85, for a total transaction of $165,913.80. Following the completion of the sale, the insider now owns 10,727 shares in the company, valued at approximately $384,562.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Harry A. Lawton III sold 28,684 shares of the business’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $36.05, for a total value of $1,034,058.20. Following the sale, the president now owns 54,722 shares of the company’s stock, 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 M stock opened at $37.78 on Friday. Macy’s Inc has a twelve month low of $18.80 and a twelve month high of $41.99. The stock has a market capitalization of $11.42 billion, a P/E ratio of 10.02, a PEG ratio of 1.11 and a beta of 0.62. 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 earnings results on Wednesday, August 15th. The company reported $0.70 earnings per share 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 firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter in the previous year, the company posted $0.48 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts expect that Macy’s Inc will post 3.93 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be paid a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date is Thursday, December 13th. Macy’s’s dividend payout ratio is currently 40.05%.
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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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