Macy’s Inc (NYSE:M) shares gapped down prior to trading on Tuesday . The stock had previously closed at $18.44, but opened at $18.84. Macy’s shares last traded at $18.51, with a volume of 6,185,489 shares traded.
Several research analysts have commented on the company. UBS AG reaffirmed a “neutral” rating and issued a $21.00 price target (down from $23.00) on shares of Macy’s in a research report on Monday, August 14th. BMO Capital Markets reaffirmed a “buy” rating and issued a $36.00 price target on shares of Macy’s in a research report on Thursday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $21.00 price target (down from $24.00) on shares of Macy’s in a research report on Friday, August 11th. BidaskClub raised Macy’s from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Wedbush reaffirmed a “hold” rating on shares of Macy’s in a research report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Macy’s has a consensus rating of “Hold” and a consensus target price of $26.31.
Macy’s (NYSE:M) last issued its earnings results on Thursday, August 10th. The company reported $0.48 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter last year, the business posted $0.51 EPS. The company’s revenue was down 5.4% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be issued a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 8.05%. The ex-dividend date is Thursday, December 14th. Macy’s’s dividend payout ratio (DPR) is 68.64%.
In other news, Director John A. Bryant acquired 9,825 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were bought at an average price of $20.32 per share, with a total value of $199,644.00. Following the acquisition, the director now directly owns 9,825 shares in the company, valued at approximately $199,644. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.40% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Ffcm LLC lifted its holdings in Macy’s by 251.6% during the 2nd quarter. Ffcm LLC now owns 5,052 shares of the company’s stock worth $120,000 after buying an additional 3,615 shares during the period. Penserra Capital Management LLC lifted its holdings in Macy’s by 51.1% during the 2nd quarter. Penserra Capital Management LLC now owns 5,560 shares of the company’s stock worth $129,000 after buying an additional 1,880 shares during the period. Financial Architects Inc lifted its holdings in Macy’s by 254.5% during the 2nd quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock worth $136,000 after buying an additional 4,200 shares during the period. Edge Wealth Management LLC acquired a new position in Macy’s during the 2nd quarter worth about $142,000. Finally, Kistler Tiffany Companies LLC acquired a new position in Macy’s during the 3rd quarter worth about $148,000. 82.22% of the stock is currently owned by hedge funds and other institutional investors.
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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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