Gotham Asset Management LLC Has $11.68 Million Holdings in Macy’s Inc (M)
Gotham Asset Management LLC boosted its holdings in shares of Macy’s Inc (NYSE:M) by 167.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 502,657 shares of the company’s stock after acquiring an additional 314,977 shares during the period. Gotham Asset Management LLC owned 0.17% of Macy’s worth $11,682,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. acquired a new stake in Macy’s during the 2nd quarter worth $335,000. Ffcm LLC grew its holdings in Macy’s by 251.6% during the 2nd quarter. Ffcm LLC now owns 5,052 shares of the company’s stock worth $120,000 after acquiring an additional 3,615 shares during the period. Penserra Capital Management LLC grew its holdings in Macy’s by 51.1% during the 2nd quarter. Penserra Capital Management LLC now owns 5,560 shares of the company’s stock worth $129,000 after acquiring an additional 1,880 shares during the period. Financial Architects Inc grew its holdings in Macy’s by 254.5% during the 2nd quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock worth $136,000 after acquiring an additional 4,200 shares during the period. Finally, Edge Wealth Management LLC acquired a new stake in Macy’s during the 2nd quarter worth $142,000. 81.97% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have commented on M. ValuEngine raised shares of Macy’s from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Cowen and Company reaffirmed a “hold” rating and set a $23.00 target price on shares of Macy’s in a report on Thursday, September 28th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $23.00 target price on shares of Macy’s in a report on Monday, September 18th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Macy’s in a report on Thursday, September 14th. Finally, BidaskClub raised shares of Macy’s from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $26.92.
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Macy’s Inc (NYSE:M) traded down 1.05% during midday trading on Friday, reaching $20.81. 13,235,022 shares of the company traded hands. The stock has a market capitalization of $6.34 billion, a P/E ratio of 9.46 and a beta of 0.87. Macy’s Inc has a 12-month low of $19.32 and a 12-month high of $45.41. The company has a 50 day moving average of $21.32 and a 200-day moving average of $24.01.
Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, August 10th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. Macy’s had a net margin of 2.71% and a return on equity of 21.38%. The business had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same period last year, the company posted $0.51 earnings per share. The business’s quarterly revenue was down 5.4% on a year-over-year basis. Equities analysts anticipate that Macy’s Inc will post $3.40 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were paid a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a dividend yield of 7.26%. The ex-dividend date of this dividend was Thursday, September 14th. Macy’s’s dividend payout ratio (DPR) is 68.64%.
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 shares were purchased at an average cost of $20.32 per share, with a total value of $199,644.00. Following the completion of the purchase, the director now owns 9,825 shares of the company’s stock, valued at $199,644. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by company insiders.
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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