Canada Pension Plan Investment Board Buys 91,600 Shares of Macy’s Inc (M)
Canada Pension Plan Investment Board increased its stake in shares of Macy’s Inc (NYSE:M) by 40.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 318,773 shares of the company’s stock after purchasing an additional 91,600 shares during the period. Canada Pension Plan Investment Board owned 0.10% of Macy’s worth $6,956,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Accredited Investors Inc. purchased a new stake in Macy’s during the 3rd quarter worth about $456,000. Victory Capital Management Inc. lifted its holdings in Macy’s by 420.0% during the 3rd quarter. Victory Capital Management Inc. now owns 670,650 shares of the company’s stock worth $14,634,000 after purchasing an additional 541,683 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Macy’s during the 3rd quarter worth about $801,000. Murphy Pohlad Asset Management LLC purchased a new stake in Macy’s during the 3rd quarter worth about $561,000. Finally, Pictet Asset Management Ltd. increased its stake in Macy’s by 15.5% in the 3rd quarter. Pictet Asset Management Ltd. now owns 193,425 shares of the company’s stock worth $4,221,000 after acquiring an additional 26,000 shares during the last quarter. 83.17% of the stock is currently owned by institutional investors and hedge funds.
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In other Macy’s news, Director John A. Bryant acquired 9,825 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was acquired at an average price of $20.32 per share, for a total transaction of $199,644.00. Following the acquisition, the director now owns 9,825 shares in the company, valued at approximately $199,644. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.40% of the company’s stock.
Shares of Macy’s Inc (NYSE:M) opened at $19.98 on Monday. The firm has a market capitalization of $6,085.91, a PE ratio of 6.73, a P/E/G ratio of 0.69 and a beta of 0.86. Macy’s Inc has a fifty-two week low of $17.41 and a fifty-two week high of $45.41. The company has a current ratio of 1.29, a quick ratio of 0.19 and a debt-to-equity ratio of 1.49.
Macy’s (NYSE:M) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.04. Macy’s had a return on equity of 21.20% and a net margin of 2.83%. The business had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same quarter last year, the business posted $0.17 EPS. The business’s revenue was down 6.1% on a year-over-year basis. equities analysts predict that Macy’s Inc will post 3.39 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be issued a $0.3775 dividend. This represents a $1.51 annualized dividend and a yield of 7.56%. The ex-dividend date is Thursday, December 14th. Macy’s’s dividend payout ratio (DPR) is currently 66.52%.
A number of equities analysts have weighed in on the company. UBS AG restated a “neutral” rating and issued a $21.00 target price (down from $23.00) on shares of Macy’s in a research note on Monday, August 14th. BidaskClub upgraded Macy’s from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Jefferies Group LLC restated a “hold” rating and issued a $21.00 target price (down from $24.00) on shares of Macy’s in a research note on Friday, August 11th. BMO Capital Markets set a $36.00 target price on Macy’s and gave the stock a “buy” rating in a research note on Friday, August 11th. Finally, Wedbush restated a “hold” rating on shares of Macy’s in a research note on Monday, July 31st. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Macy’s presently has a consensus rating of “Hold” and a consensus target price of $26.31.
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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