Macy’s Inc (M) Shares Bought by Pacer Advisors Inc.
Pacer Advisors Inc. boosted its position in Macy’s Inc (NYSE:M) by 362.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,154 shares of the company’s stock after buying an additional 45,573 shares during the period. Pacer Advisors Inc.’s holdings in Macy’s were worth $1,269,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Macy’s by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 30,612,902 shares of the company’s stock valued at $711,444,000 after purchasing an additional 618,535 shares during the last quarter. BlackRock Inc. boosted its stake in Macy’s by 3.9% during the 2nd quarter. BlackRock Inc. now owns 25,380,303 shares of the company’s stock valued at $589,839,000 after purchasing an additional 963,487 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Macy’s by 14.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,325,701 shares of the company’s stock valued at $181,666,000 after purchasing an additional 1,076,502 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Macy’s by 26.6% during 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 during the last quarter. Finally, Prudential Financial Inc. boosted its stake in Macy’s by 75.3% during 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 during the last quarter. 83.82% of the stock is owned by institutional investors and hedge funds.
Shares of Macy’s Inc (M) traded up $0.52 during mid-day trading on Wednesday, reaching $20.94. 3,699,457 shares of the company’s stock were exchanged, compared to its average volume of 15,330,000. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.29 and a quick ratio of 0.19. Macy’s Inc has a 1-year low of $17.41 and a 1-year high of $45.41. The company has a market cap of $6,380.00, a PE ratio of 7.00, a price-to-earnings-growth ratio of 0.72 and a beta of 0.86.
Macy’s (NYSE:M) last issued its earnings results on Thursday, November 9th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $5.31 billion. During the same quarter in the previous year, the firm posted $0.17 EPS. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. analysts forecast that Macy’s Inc will post 3.39 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be issued a dividend of $0.3775 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.51 dividend on an annualized basis and a yield of 7.21%. Macy’s’s payout ratio is 66.52%.
M has been the topic of a number of research analyst reports. Vetr upgraded 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 target price on Macy’s and gave the stock a “buy” rating in a research note on Friday, August 11th. Cowen and Company restated a “market perform” rating and issued a $23.00 target price (down previously from $26.00) on shares of Macy’s in a research note on Friday, August 11th. BidaskClub downgraded Macy’s from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Finally, ValuEngine upgraded Macy’s from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price 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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