BlueMountain Capital Management LLC decreased its holdings in shares of Macy’s Inc (NYSE:M) by 74.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,627 shares of the company’s stock after selling 455,167 shares during the quarter. BlueMountain Capital Management LLC owned approximately 0.05% of Macy’s worth $3,640,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in M. Vantage Financial Partners Ltd. Inc. bought a new position in Macy’s during the 2nd quarter worth $335,000. Penserra Capital Management LLC increased its position in Macy’s by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock worth $109,000 after buying an additional 320 shares during the period. Ffcm LLC increased its position 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. Financial Architects Inc increased its position 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. Finally, Edge Wealth Management LLC bought a new position in Macy’s during the 2nd quarter worth $142,000. 81.71% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on the company. Vetr cut Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 price objective on the stock. in a research report on Thursday, July 27th. ValuEngine cut Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Wedbush restated a “hold” rating on shares of Macy’s in a research report on Monday, July 31st. Zacks Investment Research cut Macy’s from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, Deutsche Bank AG raised their price target on Macy’s from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $27.63.
In related news, Director John A. Bryant purchased 9,825 shares of Macy’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were acquired at an average cost of $20.32 per share, for a total transaction of $199,644.00. Following the transaction, the director now directly owns 9,825 shares in the company, valued at $199,644. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by company insiders.
Macy’s Inc (NYSE M) opened at 22.58 on Friday. The firm has a 50-day moving average price of $21.64 and a 200 day moving average price of $25.07. Macy’s Inc has a 52 week low of $19.32 and a 52 week high of $45.41. The firm has a market capitalization of $6.88 billion, a price-to-earnings ratio of 10.26 and a beta of 0.83.
Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, August 10th. The company reported $0.48 earnings per share (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 for the quarter, compared to analyst estimates of $5.52 billion. During the same period last year, the company earned $0.51 EPS. Macy’s’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, equities research analysts forecast that Macy’s Inc will post $3.38 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be given a dividend of $0.3775 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.51 annualized dividend and a yield of 6.69%. Macy’s’s payout ratio is 68.64%.
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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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