Savant Capital LLC reduced its position in Macy’s Inc. (NYSE:M) by 8.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,520 shares of the company’s stock after selling 661 shares during the period. Savant Capital LLC’s holdings in Macy’s were worth $253,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Scopia Capital Management LP bought a new position in shares of Macy’s during the first quarter valued at $106,608,000. JPMorgan Chase & Co. boosted its position in shares of Macy’s by 155.9% in the first quarter. JPMorgan Chase & Co. now owns 2,088,466 shares of the company’s stock valued at $92,081,000 after buying an additional 1,272,413 shares during the period. Bank of Montreal Can bought a new position in shares of Macy’s during the second quarter valued at $31,195,000. Natixis bought a new position in shares of Macy’s during the first quarter valued at $39,068,000. Finally, Wellington Management Group LLP bought a new position in shares of Macy’s during the first quarter valued at $16,133,000. Institutional investors own 83.27% of the company’s stock.
Macy’s Inc. (NYSE:M) traded up 0.96% during trading on Friday, hitting $38.04. The stock had a trading volume of 6,688,988 shares. Macy’s Inc. has a 12 month low of $29.94 and a 12 month high of $52.48. The stock has a market cap of $11.73 billion, a price-to-earnings ratio of 15.25 and a beta of 0.89. The stock has a 50 day moving average price of $36.91 and a 200-day moving average price of $36.46.
Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, August 11th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.09. The business earned $5.87 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Macy’s had a return on equity of 27.68% and a net margin of 2.99%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. On average, equities analysts predict that Macy’s Inc. will post $3.36 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were issued a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a yield of 3.97%. The ex-dividend date was Tuesday, September 13th. Macy’s’s dividend payout ratio is presently 60.64%.
A number of research firms have recently commented on M. Vetr cut Macy’s from a “strong-buy” rating to a “buy” rating and set a $42.00 target price on the stock. in a research note on Monday. Macquarie lowered Macy’s from an “outperform” rating to a “neutral” rating in a report on Friday, August 12th. Royal Bank Of Canada lifted their price objective on Macy’s from $35.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, August 12th. Deutsche Bank AG lifted their price objective on Macy’s from $37.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, August 12th. Finally, Standpoint Research started coverage on Macy’s in a report on Thursday, August 25th. They issued a “buy” rating and a $72.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $43.98.
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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