Empirical Finance LLC Takes Position in Macy’s Inc (M)
Empirical Finance LLC purchased a new stake in shares of Macy’s Inc (NYSE:M) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 55,943 shares of the company’s stock, valued at approximately $1,221,000.
A number of other institutional investors have also added to or reduced their stakes in M. Thrivent Financial For Lutherans raised its stake in Macy’s by 5.7% during the first quarter. Thrivent Financial For Lutherans now owns 11,238 shares of the company’s stock valued at $333,000 after purchasing an additional 610 shares in the last quarter. Smith Graham & Co. Investment Advisors LP raised its stake in shares of Macy’s by 59.8% in the second quarter. Smith Graham & Co. Investment Advisors LP now owns 246,910 shares of the company’s stock valued at $5,738,000 after acquiring an additional 92,350 shares during the period. Xact Kapitalforvaltning AB raised its stake in shares of Macy’s by 10.8% in the second quarter. Xact Kapitalforvaltning AB now owns 48,567 shares of the company’s stock valued at $1,129,000 after acquiring an additional 4,753 shares during the period. Trust Co raised its stake in shares of Macy’s by 19.9% in the first quarter. Trust Co now owns 10,690 shares of the company’s stock valued at $317,000 after acquiring an additional 1,775 shares during the period. Finally, Fox Run Management L.L.C. raised its stake in shares of Macy’s by 94.3% in the second quarter. Fox Run Management L.L.C. now owns 34,000 shares of the company’s stock valued at $790,000 after acquiring an additional 16,500 shares during the period. 82.22% of the stock is currently owned by institutional investors.
Several equities research analysts have recently weighed in on the stock. Vetr raised shares of Macy’s from a “buy” rating to a “strong-buy” rating and set a $26.51 target price on the stock in a research note on Wednesday, August 2nd. BMO Capital Markets set a $36.00 price target on shares of Macy’s and gave the stock a “buy” rating in a research note on Friday, August 11th. Cowen and Company reaffirmed a “market perform” rating and issued a $23.00 price target (down previously from $26.00) on shares of Macy’s in a research note on Friday, August 11th. BidaskClub downgraded shares of Macy’s from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Finally, ValuEngine raised shares of Macy’s from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Three 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 stock. The company presently has an average rating of “Hold” and a consensus price target of $26.31.
In other Macy’s news, Director John A. Bryant purchased 9,825 shares of Macy’s stock in a transaction on Wednesday, August 23rd. The stock was bought at an average cost of $20.32 per share, with a total value of $199,644.00. Following the transaction, the director now owns 9,825 shares of the company’s stock, valued at approximately $199,644. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.40% of the company’s stock.
Shares of Macy’s Inc (NYSE M) traded down $0.42 during trading on Friday, hitting $18.36. 14,872,082 shares of the company traded hands, compared to its average volume of 12,034,654. The stock has a market cap of $5,591.70, a price-to-earnings ratio of 6.31, a P/E/G ratio of 0.64 and a beta of 0.86. The company has a quick ratio of 0.34, a current ratio of 1.42 and a debt-to-equity ratio of 1.44. Macy’s Inc has a 52-week low of $18.33 and a 52-week high of $45.41.
Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, August 10th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.52 billion. Macy’s had a net margin of 2.71% and a return on equity of 21.38%. Macy’s’s revenue was down 5.4% on a year-over-year basis. During the same period last year, the firm posted $0.51 EPS. analysts anticipate that Macy’s Inc will post 3.35 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 8.22%. The ex-dividend date of this dividend is Thursday, December 14th. Macy’s’s payout ratio is currently 68.64%.
Macy’s Company Profile
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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