Hexavest Inc. purchased a new position in Macy's Inc (NYSE:M) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,680,518 shares of the company’s stock, valued at approximately $42,332,000. Hexavest Inc. owned 0.55% of Macy's as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in M. Pacer Advisors Inc. lifted its position in shares of Macy's by 93.6% in the 2nd quarter. Pacer Advisors Inc. now owns 12,581 shares of the company’s stock worth $292,000 after purchasing an additional 6,081 shares during the period. State of Tennessee Treasury Department lifted its position in shares of Macy's by 0.3% in the 2nd quarter. State of Tennessee Treasury Department now owns 83,286 shares of the company’s stock worth $1,936,000 after purchasing an additional 289 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Macy's by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,623 shares of the company’s stock worth $526,000 after purchasing an additional 65 shares during the period. Franklin Resources Inc. lifted its position in shares of Macy's by 3.2% in the 2nd quarter. Franklin Resources Inc. now owns 237,602 shares of the company’s stock worth $5,523,000 after purchasing an additional 7,395 shares during the period. Finally, Aberdeen Asset Management PLC UK lifted its position in shares of Macy's by 41.1% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 147,194 shares of the company’s stock worth $3,421,000 after purchasing an additional 42,840 shares during the period. 82.04% of the stock is owned by hedge funds and other institutional investors.
Macy's Inc (NYSE M) traded up $0.70 during midday trading on Friday, hitting $26.30. 8,853,900 shares of the company traded hands, compared to its average volume of 17,172,400. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.19 and a current ratio of 1.29. The company has a market cap of $8,190.00, a price-to-earnings ratio of 11.59, a PEG ratio of 0.79 and a beta of 0.97. Macy's Inc has a 1 year low of $17.41 and a 1 year high of $34.37.
Macy's (NYSE:M) last issued its quarterly earnings results on Thursday, November 9th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.04. Macy's had a net margin of 2.83% and a return on equity of 21.20%. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same quarter in the prior year, the business posted $0.17 EPS. Macy's’s revenue for the quarter was down 6.1% compared to the same quarter last year. analysts anticipate that Macy's Inc will post 3.63 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were paid a dividend of $0.3775 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.51 dividend on an annualized basis and a yield of 5.74%. Macy's’s payout ratio is 66.52%.
Several brokerages have recently weighed in on M. Vetr cut shares of Macy's from a “strong-buy” rating to a “buy” rating and set a $28.05 price target for the company. in a research report on Tuesday, December 19th. Zacks Investment Research raised shares of Macy's from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Wednesday. Telsey Advisory Group upped their price target on shares of Macy's from $25.00 to $28.00 and gave the stock a “market perform” rating in a research report on Thursday, December 28th. ValuEngine lowered shares of Macy's from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Guggenheim reiterated a “buy” rating and set a $27.00 price objective on shares of Macy's in a research note on Friday, December 15th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Macy's presently has an average rating of “Hold” and a consensus price target of $26.02.
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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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