Ladenburg Thalmann Financial Services Inc. lifted its holdings in Macy’s Inc. (NYSE:M) by 62.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,727 shares of the company’s stock after purchasing an additional 8,375 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Macy’s were worth $548,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of M. American International Group Inc. increased its holdings in Macy’s by 98.9% in the 4th quarter. American International Group Inc. now owns 23,923,612 shares of the company’s stock worth $602,636,000 after acquiring an additional 11,894,858 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Macy’s by 28.0% in 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 acquiring an additional 2,328,072 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Macy’s by 30.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,969,989 shares of the company’s stock worth $152,091,000 after acquiring an additional 1,646,858 shares in the last quarter. Prudential Financial Inc. increased its holdings in Macy’s by 75.3% in the 3rd quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company’s stock worth $109,392,000 after acquiring an additional 2,153,110 shares in the last quarter. Finally, LSV Asset Management increased its holdings in Macy’s by 3.8% in the 4th quarter. LSV Asset Management now owns 3,916,854 shares of the company’s stock worth $98,665,000 after acquiring an additional 144,600 shares in the last quarter. Hedge funds and other institutional investors own 86.88% of the company’s stock.
In related news, Director Deirdre P. Connelly sold 9,092 shares of the firm’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $29.25, for a total value of $265,941.00. Following the completion of the transaction, the director now directly owns 16,184 shares of the company’s stock, valued at $473,382. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Marna C. Whittington sold 20,000 shares of the firm’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $30.30, for a total transaction of $606,000.00. Following the completion of the transaction, the director now directly owns 54,834 shares of the company’s stock, valued at $1,661,470.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 107,392 shares of company stock valued at $3,173,164. Insiders own 1.40% of the company’s stock.
Macy’s (NYSE:M) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Macy’s had a net margin of 6.23% and a return on equity of 24.93%. The business had revenue of $8.67 billion during the quarter, compared to analyst estimates of $8.70 billion. During the same period last year, the firm posted $2.02 EPS. The company’s revenue was up 1.8% on a year-over-year basis. analysts forecast that Macy’s Inc. will post 3.63 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th were issued a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date of this dividend was Wednesday, March 14th. Macy’s’s dividend payout ratio (DPR) is currently 40.05%.
Several research firms recently issued reports on M. Zacks Investment Research raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a report on Wednesday, January 10th. BMO Capital Markets set a $38.00 target price on shares of Macy’s and gave the stock a “buy” rating in a report on Friday, January 5th. OTR Global raised shares of Macy’s to a “sell” rating in a report on Monday, December 18th. Gordon Haskett raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Thursday, March 1st. Finally, Jefferies Group reissued 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 given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $26.60.
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Macy's, Inc, together with its subsidiaries, operates stores, Websites, and mobile applications. Its stores and Websites sell a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. The company also operates stores that offer a range of women's, men's, and children's apparel; shoes; fashion accessories; housewares; home textiles; intimate apparel; and jewelry.
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