Traders Buy Large Volume of Put Options on Macy’s (M)

Macy’s Inc (NYSE:M) saw some unusual options trading activity on Wednesday. Investors acquired 813 put options on the stock. This represents an increase of 166% compared to the typical volume of 306 put options.

In other news, Director John A. Bryant bought 9,825 shares of the stock in a transaction on Wednesday, August 23rd. The stock was bought at an average cost of $20.32 per share, for a total transaction of $199,644.00. Following the completion of the purchase, the director now directly owns 9,825 shares in the company, valued at $199,644. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Macy’s by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,623 shares of the company’s stock worth $526,000 after acquiring an additional 65 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in Macy’s by 1.1% during the second quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the company’s stock worth $439,000 after acquiring an additional 200 shares during the last quarter. Sentry Investment Management LLC boosted its position in Macy’s by 1.0% during the second quarter. Sentry Investment Management LLC now owns 23,637 shares of the company’s stock worth $549,000 after acquiring an additional 245 shares during the last quarter. State of Tennessee Treasury Department boosted its position in Macy’s by 0.3% during the second quarter. State of Tennessee Treasury Department now owns 83,286 shares of the company’s stock worth $1,936,000 after acquiring an additional 289 shares during the last quarter. Finally, Thrivent Financial For Lutherans boosted its position in Macy’s by 2.9% during the second quarter. Thrivent Financial For Lutherans now owns 11,568 shares of the company’s stock worth $269,000 after acquiring an additional 330 shares during the last quarter. Institutional investors and hedge funds own 83.17% of the company’s stock.

A number of research analysts have issued reports on the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $21.00 price target (down previously from $24.00) on shares of Macy’s in a report on Friday, August 11th. Zacks Investment Research cut shares of Macy’s from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th. Cowen and Company reaffirmed a “market perform” rating and issued a $23.00 price target (down previously from $26.00) on shares of Macy’s in a report on Friday, August 11th. Deutsche Bank AG raised their price target on shares of Macy’s from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Tuesday, August 8th. Finally, Royal Bank Of Canada set a $23.00 price target on shares of Macy’s and gave the stock a “hold” rating in a report on Friday, August 11th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $26.31.

Macy’s (NYSE M) opened at $19.98 on Monday. Macy’s has a fifty-two week low of $17.41 and a fifty-two week high of $45.41. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.29 and a quick ratio of 0.19. The firm has a market cap of $6,085.91, a price-to-earnings ratio of 6.73, a price-to-earnings-growth ratio of 0.69 and a beta of 0.86.

Macy’s (NYSE:M) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. Macy’s had a net margin of 2.83% and a return on equity of 21.20%. The company had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same quarter in the previous year, the company earned $0.17 earnings per share. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. equities research analysts expect that Macy’s will post 3.39 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be given a $0.3775 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.51 annualized dividend and a dividend yield of 7.56%. Macy’s’s dividend payout ratio (DPR) is 66.52%.

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About Macy’s

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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