Hexavest Inc. Acquires 79,672 Shares of Macy's Inc (M)
Hexavest Inc. raised its position in Macy's Inc (NYSE:M) by 5.3% during the first quarter, Holdings Channel reports. The institutional investor owned 1,596,771 shares of the company’s stock after buying an additional 79,672 shares during the period. Hexavest Inc. owned 0.52% of Macy's worth $47,328,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Macy's by 18.9% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 55,166 shares of the company’s stock valued at $2,044,000 after buying an additional 8,772 shares during the period. Shell Asset Management Co. increased its stake in shares of Macy's by 3.0% in the third quarter. Shell Asset Management Co. now owns 58,475 shares of the company’s stock valued at $2,166,000 after buying an additional 1,701 shares during the period. Rockland Trust Co. increased its stake in shares of Macy's by 3.7% in the third quarter. Rockland Trust Co. now owns 22,795 shares of the company’s stock valued at $845,000 after buying an additional 820 shares during the period. Great West Life Assurance Co. Can increased its stake in shares of Macy's by 0.7% in the third quarter. Great West Life Assurance Co. Can now owns 287,485 shares of the company’s stock valued at $10,640,000 after buying an additional 1,897 shares during the period. Finally, Hermes Investment Management Ltd. increased its stake in shares of Macy's by 90.1% in the third quarter. Hermes Investment Management Ltd. now owns 301,495 shares of the company’s stock valued at $11,170,000 after buying an additional 142,857 shares during the period. Institutional investors own 86.28% of the company’s stock.
Shares of Macy's Inc (NYSE:M) traded up 3.16% on Thursday, hitting $30.01. 5,348,654 shares of the stock traded hands. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of 15.08 and a beta of 0.79. The stock has a 50 day moving average price of $29.86 and a 200-day moving average price of $34.43. Macy's Inc has a 52 week low of $27.72 and a 52 week high of $45.41.
Macy's (NYSE:M) last posted 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 business had revenue of $8.52 billion for the quarter, compared to analyst estimates of $8.61 billion. Macy's had a net margin of 2.63% and a return on equity of 24.83%. Macy's’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.09 EPS. On average, equities research analysts forecast that Macy's Inc will post $3.46 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Wednesday, 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 5.03%. The ex-dividend date of this dividend was Monday, March 13th. Macy's’s dividend payout ratio (DPR) is presently 69.27%.
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Several equities research analysts recently issued reports on the stock. Susquehanna Bancshares Inc assumed coverage on shares of Macy's in a research note on Friday, February 10th. They issued a “neutral” rating and a $31.00 target price for the company. Cowen and Company reiterated a “market perform” rating and issued a $44.00 target price on shares of Macy's in a research note on Wednesday, February 22nd. Vetr downgraded shares of Macy's from a “strong-buy” rating to a “buy” rating and set a $32.30 target price for the company. in a research note on Thursday, April 6th. Royal Bank of Canada reiterated a “market perform” rating on shares of Macy's in a research note on Saturday, January 7th. Finally, Atlantic Securities upgraded shares of Macy's from a “neutral” rating to an “overweight” rating and raised their target price for the company from $31.72 to $36.00 in a research note on Friday, February 17th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $38.40.
In other news, EVP Felicia Williams sold 1,697 shares of the stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $28.55, for a total value of $48,449.35. Following the transaction, the executive vice president now 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 this link. Also, insider Molly Langenstein sold 1,251 shares of the stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $28.55, for a total transaction of $35,716.05. Following the completion of the transaction, the insider now directly owns 6,414 shares in the company, valued at approximately $183,119.70. The disclosure for this sale can be found here. Corporate 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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