Thompson Siegel & Walmsley LLC trimmed its position in Macy’s Inc (NYSE:M) by 37.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,907 shares of the company’s stock after selling 24,636 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Macy’s were worth $951,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of M. Penserra Capital Management LLC boosted its stake in shares of Macy’s by 9.5% in the 1st quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock valued at $109,000 after purchasing an additional 320 shares during the last quarter. Financial Architects Inc boosted its holdings 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 last quarter. Ropes Wealth Advisors LLC grew its holdings in Macy’s by 63.5% during the first 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 bought a new stake in Macy’s during the 2nd quarter worth approximately $142,000. Finally, Pacer Advisors Inc. raised its holdings in shares of Macy’s by 3.2% during the first quarter. Pacer Advisors Inc. now owns 6,500 shares of the company’s stock worth $193,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 81.69% of the company’s stock.
Several research firms have commented on M. ValuEngine downgraded shares of Macy’s from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Telsey Advisory Group reduced their price target on Macy’s from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 7th. Goldman Sachs Group, Inc. (The) cut their price objective on shares of Macy’s from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, June 7th. Jefferies Group LLC cut their target price on Macy’s from $27.00 to $24.00 and set a “hold” rating for the company in a research note on Friday, June 9th. Finally, Citigroup Inc. decreased their price target on shares of Macy’s from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $27.63.
Shares of Macy’s Inc (M) opened at 21.53 on Friday. Macy’s Inc has a 52 week low of $19.32 and a 52 week high of $45.41. The company has a market cap of $6.56 billion, a P/E ratio of 9.79 and a beta of 0.83. The company’s 50-day moving average price is $21.53 and its 200 day moving average price is $24.80.
Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, August 10th. The company reported $0.48 EPS for the quarter, beating the 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 firm had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter last year, the firm earned $0.51 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts anticipate that Macy’s Inc will post $3.39 earnings per share 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 issued a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.51 dividend on an annualized basis and a yield of 7.01%. Macy’s’s dividend payout ratio (DPR) is presently 68.64%.
In related news, Director John A. Bryant bought 9,825 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was purchased at an average cost of $20.32 per share, for a total transaction of $199,644.00. Following the completion of 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 Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.40% of the company’s stock.
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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