First Trust Advisors LP boosted its holdings in shares of Macy’s Inc (NYSE:M) by 31.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,177,861 shares of the company’s stock after purchasing an additional 281,842 shares during the quarter. First Trust Advisors LP owned about 0.39% of Macy’s worth $25,701,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Nationwide Fund Advisors increased its stake in Macy’s by 8.6% in the 3rd quarter. Nationwide Fund Advisors now owns 93,443 shares of the company’s stock worth $2,039,000 after acquiring an additional 7,372 shares during the last quarter. Sanders Morris Harris LLC increased its stake in Macy’s by 28.2% in the 3rd quarter. Sanders Morris Harris LLC now owns 296,900 shares of the company’s stock worth $6,478,000 after acquiring an additional 65,300 shares during the last quarter. Boyd Watterson Asset Management LLC OH increased its stake in Macy’s by 18.8% in the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 19,608 shares of the company’s stock worth $428,000 after acquiring an additional 3,108 shares during the last quarter. Douglas Lane & Associates LLC increased its stake in Macy’s by 57.8% in the 3rd quarter. Douglas Lane & Associates LLC now owns 2,243,096 shares of the company’s stock worth $48,944,000 after acquiring an additional 821,366 shares during the last quarter. Finally, Honkamp Krueger Financial Services Inc. bought a new stake in Macy’s in the 3rd quarter worth approximately $524,000. 82.22% of the stock is currently owned by institutional investors.
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Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, August 10th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.45 by $0.03. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same period last year, the business posted $0.51 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be given a dividend of $0.3775 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.51 annualized dividend and a dividend yield of 8.05%. Macy’s’s dividend payout ratio is currently 68.64%.
A number of analysts have issued reports on M shares. Zacks Investment Research downgraded Macy’s from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. BidaskClub raised Macy’s from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Vetr downgraded Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 price objective on the stock. in a research note on Thursday, July 27th. Wedbush reaffirmed a “hold” rating on shares of Macy’s in a research note on Monday, July 31st. Finally, Deutsche Bank AG lifted their price objective on Macy’s from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday, August 8th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $26.31.
In other news, Director John A. Bryant purchased 9,825 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was acquired at an average cost of $20.32 per share, for a total transaction of $199,644.00. Following the completion of the transaction, the director now directly owns 9,825 shares in the company, valued at approximately $199,644. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.40% of the company’s stock.
Macy’s Company Profile
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
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