Fmr LLC Lowers Holdings in Macy’s Inc (M)
Fmr LLC trimmed its stake in Macy’s Inc (NYSE:M) by 20.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,100,020 shares of the company’s stock after selling 1,522,220 shares during the period. Fmr LLC owned about 2.00% of Macy’s worth $141,764,000 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. Neuberger Berman Group LLC boosted its position in Macy’s by 48.4% in the 2nd quarter. Neuberger Berman Group LLC now owns 928,351 shares of the company’s stock valued at $21,575,000 after buying an additional 302,628 shares during the period. Commonwealth Bank of Australia lifted its position in shares of Macy’s by 27.8% in the 2nd quarter. Commonwealth Bank of Australia now owns 140,199 shares of the company’s stock worth $3,257,000 after purchasing an additional 30,500 shares during the period. Quinn Opportunity Partners LLC lifted its position in shares of Macy’s by 1.2% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 599,700 shares of the company’s stock worth $13,937,000 after purchasing an additional 7,000 shares during the period. Swiss National Bank lifted its position in shares of Macy’s by 2.4% in the 2nd quarter. Swiss National Bank now owns 1,109,712 shares of the company’s stock worth $25,790,000 after purchasing an additional 26,400 shares during the period. Finally, Banco Santander S.A. lifted its position in shares of Macy’s by 71.4% in the 1st quarter. Banco Santander S.A. now owns 60,000 shares of the company’s stock worth $1,556,000 after purchasing an additional 25,000 shares during the period. 81.97% of the stock is owned by institutional investors.
In related news, Director John A. Bryant acquired 9,825 shares of Macy’s stock in a transaction dated 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 transaction, the director now owns 9,825 shares of the company’s stock, valued at $199,644. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by insiders.
Several equities research analysts have recently weighed in on the stock. Vetr cut shares of Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 price target for the company. in a research report on Thursday, July 27th. Wedbush reaffirmed a “hold” rating on shares of Macy’s in a research report on Monday, July 31st. Zacks Investment Research cut shares of Macy’s from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Deutsche Bank AG upped their price target on shares of Macy’s from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, August 8th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $28.00 price target on shares of Macy’s in a research report on Monday, June 19th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $26.92.
Macy’s Inc (M) opened at 20.81 on Friday. The firm’s 50-day moving average is $21.32 and its 200-day moving average is $24.01. Macy’s Inc has a 52 week low of $19.32 and a 52 week high of $45.41. The firm has a market cap of $6.34 billion, a price-to-earnings ratio of 9.46 and a beta of 0.87.
Macy’s (NYSE:M) last issued its quarterly earnings data on Thursday, August 10th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.52 billion. Macy’s had a net margin of 2.71% and a return on equity of 21.38%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 EPS. On average, equities analysts anticipate that Macy’s Inc will post $3.40 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were given a dividend of $0.3775 per share. The ex-dividend date was Thursday, September 14th. This represents a $1.51 annualized dividend and a dividend yield of 7.26%. Macy’s’s dividend payout ratio is presently 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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