Advisors Asset Management Inc. Grows Holdings in Macy’s Inc (M)
Advisors Asset Management Inc. raised its stake in Macy’s Inc (NYSE:M) by 877.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,334 shares of the company’s stock after buying an additional 118,796 shares during the period. Advisors Asset Management Inc.’s holdings in Macy’s were worth $2,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. Prudential Financial Inc. raised its holdings in shares of Macy’s by 75.3% in the 3rd quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company’s stock valued at $109,392,000 after purchasing an additional 2,153,110 shares in the last quarter. Alps Advisors Inc. bought a new stake in shares of Macy’s in the 3rd quarter valued at about $46,431,000. Discovery Capital Management LLC CT raised its holdings in shares of Macy’s by 239.0% in the 2nd quarter. Discovery Capital Management LLC CT now owns 2,871,297 shares of the company’s stock valued at $66,729,000 after purchasing an additional 2,024,297 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Macy’s by 26.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,323,131 shares of the company’s stock valued at $123,703,000 after purchasing an additional 1,117,903 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of Macy’s by 1,095.5% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 1,189,500 shares of the company’s stock valued at $27,644,000 after purchasing an additional 1,090,000 shares in the last quarter. 83.82% of the stock is owned by institutional investors.
Macy’s Inc (M) opened at $21.07 on Friday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.19 and a current ratio of 1.29. Macy’s Inc has a 52 week low of $17.41 and a 52 week high of $45.41. The stock has a market cap of $6,283.90, a P/E ratio of 6.95, a price-to-earnings-growth ratio of 0.72 and a beta of 0.86.
Macy’s (NYSE:M) last issued its quarterly earnings results on Thursday, November 9th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.04. Macy’s had a net margin of 2.83% and a return on equity of 21.20%. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same quarter in the prior year, the business posted $0.17 EPS. Macy’s’s revenue for the quarter was down 6.1% compared to the same quarter last year. equities research analysts expect that Macy’s Inc will post 3.39 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be paid a dividend of $0.3775 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.51 dividend on an annualized basis and a yield of 7.17%. Macy’s’s payout ratio is 66.52%.
Several research analysts recently commented on the stock. Wedbush reiterated a “hold” rating on shares of Macy’s in a research note on Monday, July 31st. Vetr upgraded shares of Macy’s from a “buy” rating to a “strong-buy” rating and set a $26.51 price objective for the company in a research note on Wednesday, August 2nd. Deutsche Bank AG boosted their price objective on shares of Macy’s from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday, August 8th. Zacks Investment Research lowered shares of Macy’s from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Finally, BMO Capital Markets set a $36.00 price objective on shares of Macy’s and gave the stock a “buy” rating in a research note on Friday, August 11th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $25.37.
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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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