Oppenheimer & Co. Inc. Buys 637 Shares of Macy’s Inc (NYSE:M)
Oppenheimer & Co. Inc. boosted its stake in shares of Macy’s Inc (NYSE:M) by 2.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 22,232 shares of the company’s stock after buying an additional 637 shares during the period. Oppenheimer & Co. Inc.’s holdings in Macy’s were worth $477,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in M. Geode Capital Management LLC grew its stake in shares of Macy’s by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 5,150,836 shares of the company’s stock valued at $153,359,000 after buying an additional 355,028 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Macy’s during the first quarter worth $239,000. SG Americas Securities LLC boosted its stake in shares of Macy’s by 102.6% during the first quarter. SG Americas Securities LLC now owns 47,983 shares of the company’s stock valued at $1,153,000 after purchasing an additional 1,906,263 shares during the period. First Republic Investment Management Inc. boosted its stake in shares of Macy’s by 6.2% during the first quarter. First Republic Investment Management Inc. now owns 10,521 shares of the company’s stock valued at $253,000 after purchasing an additional 617 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Macy’s by 62.1% during the first quarter. Victory Capital Management Inc. now owns 328,529 shares of the company’s stock valued at $7,895,000 after purchasing an additional 125,893 shares during the period. Institutional investors own 84.40% of the company’s stock.
In other Macy’s news, CFO Paula A. Price sold 1,189 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $21.30, for a total transaction of $25,325.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.55% of the company’s stock.
Macy’s (NYSE:M) last posted its earnings results on Wednesday, August 14th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.17). Macy’s had a net margin of 4.11% and a return on equity of 18.74%. The business had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.55 billion. During the same period last year, the business posted $0.70 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. On average, analysts expect that Macy’s Inc will post 2.88 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.377 dividend. This represents a $1.51 dividend on an annualized basis and a yield of 8.54%. The ex-dividend date of this dividend is Thursday, September 12th. Macy’s’s dividend payout ratio (DPR) is 36.12%.
Several research firms recently commented on M. Deutsche Bank reduced their price target on shares of Macy’s from $29.00 to $23.00 and set a “hold” rating on the stock in a research note on Thursday, August 15th. Guggenheim cut shares of Macy’s from a “buy” rating to a “neutral” rating in a research report on Friday, August 23rd. UBS Group set a $25.00 target price on shares of Macy’s and gave the stock a “hold” rating in a research note on Friday, May 17th. Goldman Sachs Group upgraded shares of Macy’s from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $21.00 in a research note on Thursday, May 16th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $18.00 target price (down from $25.00) on shares of Macy’s in a research report on Thursday, August 15th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. Macy’s presently has a consensus rating of “Hold” and a consensus target price of $23.83.
Macy’s Company Profile
Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.
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