Swiss National Bank lifted its stake in shares of Macy’s Inc (NYSE:M) by 2.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,109,712 shares of the company’s stock after purchasing an additional 26,400 shares during the quarter. Swiss National Bank owned 0.36% of Macy’s worth $25,790,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in M. Nationwide Fund Advisors boosted its stake in Macy’s by 1.7% in the first quarter. Nationwide Fund Advisors now owns 86,071 shares of the company’s stock valued at $2,551,000 after buying an additional 1,466 shares in the last quarter. Strs Ohio boosted its stake in Macy’s by 37.5% in the first quarter. Strs Ohio now owns 38,391 shares of the company’s stock valued at $1,137,000 after buying an additional 10,466 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its stake in Macy’s by 0.3% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 26,085 shares of the company’s stock valued at $773,000 after buying an additional 76 shares in the last quarter. First Trust Advisors LP boosted its stake in Macy’s by 2.1% in the first quarter. First Trust Advisors LP now owns 667,014 shares of the company’s stock valued at $19,770,000 after buying an additional 13,592 shares in the last quarter. Finally, Boston Partners acquired a new stake in Macy’s in the first quarter valued at about $469,000. 81.71% of the stock is currently owned by institutional investors.
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A number of analysts have recently commented on M shares. Royal Bank Of Canada set a $23.00 price target on Macy’s and gave the company a “hold” rating in a research note on Friday, August 11th. Goldman Sachs Group, Inc. (The) cut their price target on Macy’s from $28.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 7th. Bank of America Corporation cut their price target on Macy’s from $31.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, June 9th. BidaskClub raised Macy’s from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Zacks Investment Research lowered Macy’s from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $27.63.
In other Macy’s news, Director John A. Bryant bought 9,825 shares of the business’s stock in a transaction 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 purchase, the director now owns 9,825 shares in the company, valued at approximately $199,644. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.40% of the company’s stock.
Macy’s Inc (M) opened at 22.58 on Friday. Macy’s Inc has a 12 month low of $19.32 and a 12 month high of $45.41. The company’s 50 day moving average price is $21.64 and its 200 day moving average price is $25.07. The stock has a market cap of $6.88 billion, a PE ratio of 10.26 and a beta of 0.83.
Macy’s (NYSE:M) last issued its earnings results on Thursday, August 10th. The company reported $0.48 EPS for the quarter, beating 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 the consensus estimate of $5.52 billion. During the same period last year, the business posted $0.51 EPS. The company’s revenue was down 5.4% compared to the same quarter last year. Equities analysts forecast that Macy’s Inc will post $3.38 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid 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 dividend payout ratio is 68.64%.
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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