Ffcm LLC lifted its position in Macy’s Inc (NYSE:M) by 251.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,052 shares of the company’s stock after buying an additional 3,615 shares during the period. Ffcm LLC’s holdings in Macy’s were worth $120,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Penserra Capital Management LLC lifted its stake in Macy’s by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock valued at $109,000 after acquiring an additional 320 shares during the period. Financial Architects Inc lifted its stake in Macy’s by 254.5% during the 2nd quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock valued at $136,000 after acquiring an additional 4,200 shares during the period. Ropes Wealth Advisors LLC lifted its stake in shares of Macy’s by 63.5% in the 1st quarter. Ropes Wealth Advisors LLC now owns 4,806 shares of the company’s stock valued at $142,000 after purchasing an additional 1,866 shares during the period. Edge Wealth Management LLC acquired a new position in shares of Macy’s in the 2nd quarter valued at $142,000. Finally, Pacer Advisors Inc. lifted its stake in shares of Macy’s by 3.2% in the 1st quarter. Pacer Advisors Inc. now owns 6,500 shares of the company’s stock valued at $193,000 after purchasing an additional 200 shares during the period. 81.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Macy’s Inc (NYSE:M) traded up 1.705% during midday trading on Friday, reaching $22.375. The company had a trading volume of 5,286,828 shares. Macy’s Inc has a 52-week low of $19.32 and a 52-week high of $45.41. The firm has a market cap of $6.81 billion, a P/E ratio of 10.170 and a beta of 0.83. The company’s 50-day moving average is $21.69 and its 200-day moving average is $25.15. Macy’s also saw some unusual options trading on Wednesday. Stock investors bought 813 put options on the company. This represents an increase of 166% compared to the typical daily volume of 306 put options.
Macy’s (NYSE:M) last issued its quarterly earnings results on Thursday, August 10th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.52 billion. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 earnings per share. Equities research analysts expect that Macy’s Inc will post $3.38 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be given a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a dividend yield of 6.86%. The ex-dividend date is Thursday, September 14th. Macy’s’s dividend payout ratio is currently 68.64%.
In other news, Director John A. Bryant bought 9,825 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were bought at an average price of $20.32 per share, with a total value of $199,644.00. Following the completion of the transaction, the director now owns 9,825 shares of the company’s stock, valued at $199,644. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is currently owned by insiders.
Several equities research analysts recently commented on M shares. ValuEngine lowered shares of Macy’s from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Telsey Advisory Group dropped their target price on shares of Macy’s from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, June 7th. Goldman Sachs Group, Inc. (The) dropped their target price on shares of Macy’s from $28.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, June 7th. Jefferies Group LLC dropped their price objective on shares of Macy’s from $27.00 to $24.00 and set a “hold” rating for the company in a report on Friday, June 9th. Finally, Citigroup Inc. decreased their target price on shares of Macy’s from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, June 9th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $27.63.
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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