Macy’s Inc (M) Shares Bought by Pinnacle Associates Ltd.
Pinnacle Associates Ltd. boosted its position in shares of Macy’s Inc (NYSE:M) by 4.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,747 shares of the company’s stock after buying an additional 3,375 shares during the period. Pinnacle Associates Ltd.’s holdings in Macy’s were worth $1,915,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ffcm LLC grew its stake in shares of Macy’s by 251.6% in the 2nd quarter. Ffcm LLC now owns 5,052 shares of the company’s stock valued at $120,000 after purchasing an additional 3,615 shares during the last quarter. Penserra Capital Management LLC grew its stake in shares of Macy’s by 51.1% in the 2nd quarter. Penserra Capital Management LLC now owns 5,560 shares of the company’s stock valued at $129,000 after purchasing an additional 1,880 shares during the last quarter. Kistler Tiffany Companies LLC purchased a new position in shares of Macy’s in the 3rd quarter valued at approximately $148,000. IFP Advisors Inc grew its stake in shares of Macy’s by 62.9% in the 3rd quarter. IFP Advisors Inc now owns 7,981 shares of the company’s stock valued at $174,000 after purchasing an additional 3,083 shares during the last quarter. Finally, Westside Investment Management Inc. grew its stake in shares of Macy’s by 3,191.7% in the 2nd quarter. Westside Investment Management Inc. now owns 9,875 shares of the company’s stock valued at $208,000 after purchasing an additional 9,575 shares during the last quarter. 82.27% of the stock is currently owned by institutional investors.
M has been the topic of several analyst reports. Deutsche Bank lifted their target price on Macy’s from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, August 8th. Zacks Investment Research downgraded Macy’s from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. BMO Capital Markets set a $36.00 target price on Macy’s and gave the company a “buy” rating in a research note on Friday, August 11th. Royal Bank Of Canada set a $23.00 target price on Macy’s and gave the company a “hold” rating in a research note on Friday, August 11th. Finally, Credit Suisse Group lowered their target price on Macy’s from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 11th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $25.37.
Macy’s Inc (M) traded up $0.39 on Monday, reaching $24.19. The company’s stock had a trading volume of 14,783,000 shares, compared to its average volume of 10,086,001. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.19 and a current ratio of 1.29. The stock has a market capitalization of $7,368.27, a P/E ratio of 8.14, a price-to-earnings-growth ratio of 0.84 and a beta of 0.97. Macy’s Inc has a one year low of $17.41 and a one year high of $43.79.
Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, November 9th. The company reported $0.23 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same period in the previous year, the firm posted $0.17 earnings per share. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. equities analysts anticipate that Macy’s Inc will post 3.39 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 6.24%. Macy’s’s dividend payout ratio (DPR) is 66.52%.
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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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