DekaBank Deutsche Girozentrale increased its holdings in shares of Macy’s Inc (NYSE:M) by 14.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 367,241 shares of the company’s stock after buying an additional 45,901 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.12% of Macy’s worth $7,395,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. purchased a new position in Macy’s during the second quarter worth about $335,000. Ffcm LLC lifted its position in Macy’s by 251.6% during the second 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 position in Macy’s by 51.1% during the second 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 position in Macy’s by 254.5% during the second 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 purchased a new position in Macy’s during the second quarter worth about $142,000. Hedge funds and other institutional investors own 83.17% of the company’s stock.
Shares of Macy’s Inc (M) opened at $20.35 on Friday. The stock has a market capitalization of $6,198.61, a P/E ratio of 6.85, a P/E/G ratio of 0.71 and a beta of 0.86. Macy’s Inc has a 1-year low of $17.41 and a 1-year 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.
Macy’s (NYSE:M) last announced its quarterly earnings results on Thursday, November 9th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.04. The business had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.31 billion. Macy’s had a return on equity of 21.20% and a net margin of 2.83%. The business’s revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the business posted $0.17 EPS. analysts forecast that Macy’s Inc will post 3.39 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be issued a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 7.42%. The ex-dividend date of this dividend is Thursday, December 14th. Macy’s’s dividend payout ratio (DPR) is 66.52%.
In related news, Director John A. Bryant purchased 9,825 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were acquired at an average price of $20.32 per share, with a total value of $199,644.00. Following the acquisition, the director now owns 9,825 shares in the company, valued at approximately $199,644. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.40% of the company’s stock.
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Several equities research analysts have commented on M shares. BMO Capital Markets restated a “buy” rating and set a $36.00 price target on shares of Macy’s in a research note on Thursday, November 2nd. Zacks Investment Research lowered Macy’s from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. BidaskClub lowered Macy’s from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Vetr lowered Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 price target for the company. in a research note on Thursday, July 27th. Finally, Citigroup Inc. lowered Macy’s from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $21.00 to $16.00 in a research note on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $25.37.
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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