Henderson Group PLC continued to hold its stake in shares of Macy's Inc (NYSE:M) during the first quarter, Holdings Channel reports. The institutional investor owned 47,131 shares of the company’s stock at the end of the first quarter. Henderson Group PLC’s holdings in Macy's were worth $1,397,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. TB Alternative Assets Ltd. purchased a new position in shares of Macy's during the first quarter valued at $5,421,000. Washington Trust Bank increased its position in shares of Macy's by 363.8% in the first quarter. Washington Trust Bank now owns 13,669 shares of the company’s stock valued at $405,000 after buying an additional 10,722 shares in the last quarter. Paradigm Asset Management Co. LLC purchased a new position in shares of Macy's during the fourth quarter valued at $4,618,000. ARGI Investment Services LLC increased its position in shares of Macy's by 6.4% in the third quarter. ARGI Investment Services LLC now owns 55,957 shares of the company’s stock valued at $2,073,000 after buying an additional 3,381 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Macy's during the fourth quarter valued at $136,099,000. Institutional investors own 86.28% of the company’s stock.
Macy's Inc (NYSE:M) traded up 0.681% on Friday, hitting $22.915. 3,580,877 shares of the stock were exchanged. Macy's Inc has a 52-week low of $22.43 and a 52-week high of $45.41. The firm has a market cap of $6.98 billion, a PE ratio of 12.360 and a beta of 0.79. The stock’s 50 day moving average price is $28.22 and its 200 day moving average price is $33.09.
Macy's (NYSE:M) last issued its quarterly earnings data on Thursday, May 11th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by $0.12. The business had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.49 billion. Macy's had a return on equity of 24.83% and a net margin of 2.63%. The firm’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 earnings per share. Equities research analysts forecast that Macy's Inc will post $3.33 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Thursday, June 15th will be given a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 6.63%. The ex-dividend date is Tuesday, June 13th. Macy's’s payout ratio is 69.27%.
Several brokerages have weighed in on M. Northcoast Research reaffirmed a “neutral” rating on shares of Macy's in a report on Thursday, May 11th. Bank of America Corp reissued a “neutral” rating and issued a $31.00 target price (down previously from $38.00) on shares of Macy's in a report on Monday. Wunderlich reissued a “buy” rating and issued a $24.00 target price on shares of Macy's in a report on Monday. BMO Capital Markets reissued an “outperform” rating and issued a $36.00 target price (down previously from $39.00) on shares of Macy's in a report on Monday. Finally, Royal Bank of Canada set a $28.00 target price on shares of Macy's and gave the stock a “hold” rating in a report on Saturday, May 13th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $34.55.
In other Macy's news, EVP Felicia Williams sold 1,697 shares of Macy's stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $28.55, for a total value of $48,449.35. Following the completion of the transaction, the executive vice president now directly owns 1,697 shares of the company’s stock, valued at approximately $48,449.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Molly Langenstein sold 1,251 shares of Macy's stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $28.55, for a total value of $35,716.05. Following the completion of the transaction, the insider now directly owns 6,414 shares of the company’s stock, valued at $183,119.70. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
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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