Kanawha Capital Management LLC reduced its stake in shares of Macy’s Inc. (NYSE:M) by 17.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 11,525 shares of the company’s stock after selling 2,375 shares during the period. Kanawha Capital Management LLC’s holdings in Macy’s were worth $387,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Americafirst Capital Management LLC acquired a new stake in Macy’s during the second quarter valued at approximately $133,000. Pacific Global Investment Management CO acquired a new stake in Macy’s during the first quarter valued at approximately $208,000. Advisory Services Network LLC boosted its stake in Macy’s by 13.3% in the second quarter. Advisory Services Network LLC now owns 4,800 shares of the company’s stock valued at $161,000 after buying an additional 565 shares in the last quarter. First Manhattan Co. boosted its stake in Macy’s by 56.7% in the second quarter. First Manhattan Co. now owns 4,966 shares of the company’s stock valued at $166,000 after buying an additional 1,796 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Macy’s during the first quarter valued at approximately $270,000. 83.27% of the stock is owned by institutional investors.
Macy’s Inc. (NYSE:M) traded down 3.23% during midday trading on Friday, reaching $35.61. The company had a trading volume of 5,601,945 shares. Macy’s Inc. has a 52 week low of $29.94 and a 52 week high of $52.48. The firm has a 50-day moving average price of $36.61 and a 200-day moving average price of $36.33. The company has a market capitalization of $10.98 billion, a price-to-earnings ratio of 14.28 and a beta of 0.89.
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 firm had revenue of $5.87 billion for 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 company’s revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. Analysts expect that Macy’s Inc. will post $3.36 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th were issued a dividend of $0.3775 per share. The ex-dividend date was Tuesday, September 13th. This represents a $1.51 annualized dividend and a dividend yield of 4.10%. Macy’s’s payout ratio is 60.64%.
M has been the topic of several recent research reports. Vetr upgraded Macy’s from a “sell” rating to a “hold” rating and set a $35.76 price target on the stock in a report on Wednesday, July 13th. Macquarie lowered Macy’s from an “outperform” rating to a “neutral” rating in a report on Friday, August 12th. Royal Bank Of Canada increased their price target 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 increased their price target 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 initiated coverage on Macy’s in a report on Thursday, August 25th. They issued a “buy” rating and a $72.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price 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.
Want to see what other hedge funds are holding M? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macy’s Inc. (NYSE:M).
Receive News & Ratings for Macy's Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's Inc. and related companies with MarketBeat.com's FREE daily email newsletter.