Canada Pension Plan Investment Board Has $7.70 Million Holdings in Macy’s Inc (M)

Canada Pension Plan Investment Board boosted its stake in shares of Macy’s Inc (NYSE:M) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 221,808 shares of the company’s stock after buying an additional 9,813 shares during the period. Canada Pension Plan Investment Board owned 0.07% of Macy’s worth $7,703,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Ffcm LLC increased its position in shares of Macy’s by 224.4% during the third quarter. Ffcm LLC now owns 45,795 shares of the company’s stock worth $1,605,000 after purchasing an additional 31,678 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Macy’s by 8,081.8% during the second quarter. CIBC Private Wealth Group LLC now owns 99,981 shares of the company’s stock worth $3,742,000 after purchasing an additional 98,759 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Macy’s by 11.4% during the second quarter. Van ECK Associates Corp now owns 26,239 shares of the company’s stock worth $982,000 after purchasing an additional 2,694 shares in the last quarter. Commonwealth Bank of Australia increased its position in shares of Macy’s by 3.1% during the third quarter. Commonwealth Bank of Australia now owns 227,223 shares of the company’s stock worth $7,886,000 after purchasing an additional 6,800 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd increased its position in shares of Macy’s by 39.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 5,655 shares of the company’s stock worth $196,000 after purchasing an additional 1,588 shares in the last quarter. Institutional investors own 92.58% of the company’s stock.

NYSE:M opened at $31.69 on Friday. Macy’s Inc has a one year low of $22.47 and a one year high of $41.99. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.24 and a current ratio of 1.35. The firm has a market capitalization of $9.95 billion, a price-to-earnings ratio of 8.41, a price-to-earnings-growth ratio of 0.93 and a beta of 0.56.

Macy’s (NYSE:M) last posted its quarterly earnings results on Wednesday, November 14th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.14 by $0.13. Macy’s had a net margin of 6.72% and a return on equity of 22.33%. The company had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the company earned $0.23 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. Sell-side analysts anticipate that Macy’s Inc will post 4.08 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be issued a $0.3775 dividend. This represents a $1.51 annualized dividend and a yield of 4.76%. The ex-dividend date is Thursday, December 13th. Macy’s’s payout ratio is 40.05%.

In other Macy’s news, Director William H. Lenehan purchased 3,154 shares of the stock in a transaction on Friday, November 16th. The shares were bought at an average cost of $31.74 per share, with a total value of $100,107.96. Following the completion of the acquisition, the director now owns 11,214 shares in the company, valued at $355,932.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Harry A. Lawton III sold 200,000 shares of the company’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $33.09, for a total transaction of $6,618,000.00. Following the completion of the sale, the president now directly owns 226,038 shares in the company, valued at $7,479,597.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 233,312 shares of company stock worth $7,817,972. 2.36% of the stock is owned by corporate insiders.

Several research firms recently issued reports on M. Zacks Investment Research reissued a “hold” rating and issued a $43.00 target price on shares of Macy’s in a research report on Wednesday, November 14th. Cowen upped their target price on Macy’s from $35.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, August 16th. Atlantic Securities downgraded Macy’s from a “neutral” rating to an “underweight” rating and cut their target price for the company from $39.00 to $28.00 in a research report on Thursday. Royal Bank of Canada set a $39.00 target price on Macy’s and gave the company a “hold” rating in a research report on Thursday, August 16th. Finally, Goldman Sachs Group began coverage on Macy’s in a research report on Monday, September 3rd. They issued a “sell” rating and a $33.00 target price on the stock. Four 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 given a strong buy rating to the stock. Macy’s currently has an average rating of “Hold” and an average target price of $34.30.

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Macy’s 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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Institutional Ownership by Quarter for Macy`s (NYSE:M)

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