Hollencrest Securities LLC maintained its position in Macy's Inc (NYSE:M) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,000 shares of the company’s stock at the end of the first quarter. Hollencrest Securities LLC’s holdings in Macy's were worth $1,245,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. WFG Advisors LP increased its position in Macy's by 9,613.2% in the fourth quarter. WFG Advisors LP now owns 3,691 shares of the company’s stock valued at $144,000 after buying an additional 3,653 shares in the last quarter. Acadian Asset Management LLC increased its position in Macy's by 6,650.7% in the third quarter. Acadian Asset Management LLC now owns 4,793 shares of the company’s stock valued at $178,000 after buying an additional 4,722 shares in the last quarter. First Manhattan Co. increased its position in Macy's by 2.2% in the third quarter. First Manhattan Co. now owns 5,076 shares of the company’s stock valued at $188,000 after buying an additional 110 shares in the last quarter. Blenheim Capital Management BV bought a new position in Macy's during the fourth quarter valued at approximately $186,000. Finally, Boston Partners bought a new position in Macy's during the third quarter valued at approximately $204,000. Hedge funds and other institutional investors own 86.28% of the company’s stock.
Macy's Inc (NYSE:M) traded down 1.77% during midday trading on Friday, reaching $29.48. 3,549,139 shares of the company traded hands. Macy's Inc has a one year low of $27.72 and a one year high of $45.41. The firm has a market capitalization of $8.97 billion, a price-to-earnings ratio of 14.81 and a beta of 0.79. The firm has a 50-day moving average price of $29.78 and a 200-day moving average price of $34.39. Macy's also saw unusually large options trading on Friday. Stock traders acquired 950 call options on the company. This represents an increase of approximately 149% compared to the average daily volume of 381 call options.
Macy's (NYSE:M) last released its earnings results on Tuesday, February 21st. The company reported $2.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.96 by $0.06. The company earned $8.52 billion during the quarter, compared to the consensus estimate of $8.61 billion. Macy's had a return on equity of 24.83% and a net margin of 2.63%. Macy's’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.09 EPS. Equities analysts predict that Macy's Inc will post $3.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Wednesday, March 15th were given a $0.3775 dividend. The ex-dividend date of this dividend was Monday, March 13th. This represents a $1.51 dividend on an annualized basis and a yield of 5.12%. Macy's’s payout ratio is 69.27%.
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Several equities analysts have commented on the stock. Royal Bank of Canada reiterated a “market perform” rating on shares of Macy's in a report on Saturday, January 7th. Vetr upgraded shares of Macy's from a “sell” rating to a “hold” rating and set a $30.27 price objective on the stock in a report on Tuesday, March 14th. Deutsche Bank AG reiterated a “hold” rating and issued a $34.00 price objective on shares of Macy's in a report on Tuesday, February 7th. Zacks Investment Research downgraded shares of Macy's from a “hold” rating to a “strong sell” rating in a report on Monday, February 20th. Finally, Telsey Advisory Group decreased their price objective on shares of Macy's from $42.00 to $38.00 and set a “market perform” rating on the stock in a report on Thursday, January 5th. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $38.31.
In other Macy's news, EVP Felicia Williams sold 1,697 shares of Macy's stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $28.55, for a total value of $48,449.35. Following the transaction, the executive vice president now directly owns 1,697 shares of the company’s stock, valued at approximately $48,449.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Molly Langenstein sold 1,251 shares of Macy's stock in a transaction that occurred on Wednesday, March 29th. The stock was 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 in the company, valued at $183,119.70. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
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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