Macy's Inc (M) Shares Sold by Allianz Asset Management GmbH
Allianz Asset Management GmbH reduced its stake in shares of Macy's Inc (NYSE:M) by 10.9% during the 4th quarter, HoldingsChannel reports. The fund owned 1,543,658 shares of the company’s stock after selling 189,100 shares during the quarter. Allianz Asset Management GmbH’s holdings in Macy's were worth $38,884,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in M. Vestpro Financial Partners Inc. dba CPF Texas acquired a new stake in Macy's during the 4th quarter worth $104,000. SeaCrest Wealth Management LLC acquired a new stake in Macy's during the 4th quarter worth $119,000. Cerebellum GP LLC acquired a new stake in Macy's during the 4th quarter worth $127,000. Enterprise Financial Services Corp raised its stake in Macy's by 102.4% during the 4th quarter. Enterprise Financial Services Corp now owns 5,348 shares of the company’s stock worth $135,000 after acquiring an additional 2,706 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in Macy's by 62.9% during the 3rd quarter. IFP Advisors Inc now owns 7,981 shares of the company’s stock worth $174,000 after acquiring an additional 3,083 shares in the last quarter. Hedge funds and other institutional investors own 88.32% of the company’s stock.
Several brokerages have issued reports on M. Jefferies Group reissued a “hold” rating on shares of Macy's in a research report on Tuesday. Guggenheim reissued a “buy” rating and set a $27.00 price objective on shares of Macy's in a research report on Friday, December 15th. ValuEngine raised shares of Macy's from a “hold” rating to a “buy” rating in a research report on Thursday. BMO Capital Markets set a $35.00 price objective on shares of Macy's and gave the stock a “buy” rating in a research report on Sunday, November 12th. Finally, Deutsche Bank raised their price objective on shares of Macy's from $27.00 to $28.00 and gave the stock a “hold” rating in a research report on Monday, February 26th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $26.33.
Shares of Macy's Inc (M) opened at $30.41 on Friday. The firm has a market cap of $9,260.00, a PE ratio of 9.56, a PEG ratio of 1.19 and a beta of 0.79. The company has a quick ratio of 0.19, a current ratio of 1.47 and a debt-to-equity ratio of 1.04. Macy's Inc has a fifty-two week low of $17.41 and a fifty-two week high of $33.17.
Macy's (NYSE:M) last issued its earnings results on Tuesday, February 27th. The company reported $2.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.71 by $0.11. The business had revenue of $8.67 billion for the quarter, compared to the consensus estimate of $8.70 billion. Macy's had a net margin of 6.23% and a return on equity of 24.93%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.02 earnings per share. sell-side analysts expect that Macy's Inc will post 2.91 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be issued a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend is Wednesday, March 14th. Macy's’s payout ratio is 47.48%.
COPYRIGHT VIOLATION WARNING: This news story was first published by Watch List News and is the property of of Watch List News. If you are viewing this news story on another publication, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this news story can be viewed at https://www.watchlistnews.com/macys-inc-m-shares-sold-by-allianz-asset-management-gmbh/1903557.html.
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.
Want to see what other hedge funds are holding M? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macy's Inc (NYSE:M).
Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter.