Independent Order of Foresters acquired a new position in shares of Macy's Inc (NYSE:M) in the 4th quarter, Holdings Channel reports. The firm acquired 9,620 shares of the company’s stock, valued at approximately $242,000.
A number of other large investors have also recently bought and sold shares of the business. American International Group Inc. boosted its holdings in shares of Macy's by 98.9% during the 4th quarter. American International Group Inc. now owns 23,923,612 shares of the company’s stock worth $602,636,000 after purchasing an additional 11,894,858 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Macy's by 28.0% during the 4th quarter. Bank of New York Mellon Corp now owns 10,653,773 shares of the company’s stock worth $268,367,000 after purchasing an additional 2,328,072 shares during the last quarter. Prudential Financial Inc. boosted its holdings in shares of Macy's by 75.3% during the 3rd quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company’s stock worth $109,392,000 after purchasing an additional 2,153,110 shares during the last quarter. Alps Advisors Inc. acquired a new position in shares of Macy's during the 3rd quarter worth approximately $46,431,000. Finally, QV Investors Inc. acquired a new position in shares of Macy's during the 4th quarter worth approximately $45,737,000. Institutional investors own 85.77% of the company’s stock.
In other news, Director Marna C. Whittington sold 20,000 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $30.30, for a total transaction of $606,000.00. Following the sale, the director now owns 54,834 shares of the company’s stock, valued at $1,661,470.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Deirdre P. Connelly sold 9,092 shares of the company’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $29.25, for a total value of $265,941.00. Following the sale, the director now directly owns 16,184 shares in the company, valued at approximately $473,382. The disclosure for this sale can be found here. Insiders have sold 106,607 shares of company stock worth $3,150,407 over the last 90 days. 1.40% of the stock is owned by insiders.
Macy's (NYSE:M) last released its quarterly earnings results on Tuesday, February 27th. The company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. Macy's had a return on equity of 24.93% and a net margin of 6.23%. The company had revenue of $8.67 billion for the quarter, compared to analysts’ expectations of $8.70 billion. During the same period in the prior year, the firm earned $2.02 earnings per share. The firm’s revenue was up 1.8% compared to the same quarter last year. sell-side analysts predict that Macy's Inc will post 3.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date is Wednesday, March 14th. Macy's’s dividend payout ratio (DPR) is 29.96%.
M has been the topic of a number of recent analyst reports. Morgan Stanley upped their price objective on Macy's from $23.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, February 28th. Gordon Haskett upgraded Macy's from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Thursday, March 1st. BMO Capital Markets upped their price objective on Macy's from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, March 1st. ValuEngine upgraded Macy's from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Jefferies Group reiterated a “hold” rating on shares of Macy's in a report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $26.33.
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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