Macy’s Inc (M) Shares Gap Down to $18.84

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.

TRADEMARK VIOLATION NOTICE: “Macy’s Inc (M) Shares Gap Down to $18.84” was published by Community Financial News and is the property of of Community Financial News. If you are accessing this report on another site, it was illegally copied and republished in violation of US and international trademark and copyright laws. The original version of this report can be accessed at https://www.com-unik.info/2017/11/02/macys-inc-m-shares-gap-down-to-18-84.html.

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.

What are top analysts saying about Macy's Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Macy's Inc and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit