Gotham Asset Management LLC lifted its position in shares of Macy’s Inc (NYSE:M) by 167.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 502,657 shares of the company’s stock after acquiring an additional 314,977 shares during the quarter. Gotham Asset Management LLC owned 0.17% of Macy’s worth $11,682,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Voya Investment Management LLC boosted its holdings in Macy’s by 163.1% during the second quarter. Voya Investment Management LLC now owns 451,225 shares of the company’s stock worth $10,487,000 after buying an additional 279,720 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in Macy’s by 48.4% during the second quarter. Neuberger Berman Group LLC now owns 928,351 shares of the company’s stock worth $21,575,000 after buying an additional 302,628 shares in the last quarter. Commonwealth Bank of Australia boosted its holdings in Macy’s by 27.8% during the second quarter. Commonwealth Bank of Australia now owns 140,199 shares of the company’s stock worth $3,257,000 after buying an additional 30,500 shares in the last quarter. Quinn Opportunity Partners LLC boosted its holdings in Macy’s by 1.2% during the second quarter. Quinn Opportunity Partners LLC now owns 599,700 shares of the company’s stock worth $13,937,000 after buying an additional 7,000 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in Macy’s by 2.4% during the second quarter. Swiss National Bank now owns 1,109,712 shares of the company’s stock worth $25,790,000 after buying an additional 26,400 shares in the last quarter. Institutional investors and hedge funds own 81.94% of the company’s stock.
Shares of Macy’s Inc (NYSE M) traded down 0.40% during trading on Tuesday, reaching $19.81. 1,553,015 shares of the company traded hands. The firm has a 50-day moving average price of $21.36 and a 200-day moving average price of $23.66. The firm has a market capitalization of $6.03 billion, a PE ratio of 9.00 and a beta of 0.87. Macy’s Inc has a 12 month low of $19.32 and a 12 month high of $45.41.
Macy’s (NYSE:M) last issued its quarterly earnings results on Thursday, August 10th. The company reported $0.48 EPS for the quarter, topping the Zacks’ 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 company had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter last year, the business earned $0.51 earnings per share. Macy’s’s revenue was down 5.4% on a year-over-year basis. Equities research analysts anticipate that Macy’s Inc will post $3.39 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were given a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a dividend yield of 7.59%. The ex-dividend date of this dividend was Thursday, September 14th. Macy’s’s payout ratio is currently 68.64%.
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In other Macy’s news, Director John A. Bryant acquired 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, with a total value of $199,644.00. Following the completion of the purchase, the director now directly owns 9,825 shares of the company’s stock, valued at approximately $199,644. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by company insiders.
A number of analysts recently commented on M shares. Royal Bank Of Canada reissued a “hold” rating and set a $28.00 price objective on shares of Macy’s in a report on Monday, June 19th. Zacks Investment Research downgraded shares of Macy’s from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. BidaskClub raised shares of Macy’s from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Vetr downgraded shares of Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 price target on the stock. in a report on Thursday, July 27th. Finally, Wedbush reaffirmed a “hold” rating on shares of Macy’s in a report on Monday, July 31st. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Macy’s has a consensus rating of “Hold” and an average target price of $26.92.
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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