Pictet Asset Management Ltd. Boosts Stake in Macy’s Inc (M)
Pictet Asset Management Ltd. grew its position in Macy’s Inc (NYSE:M) by 15.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 193,425 shares of the company’s stock after purchasing an additional 26,000 shares during the quarter. Pictet Asset Management Ltd. owned about 0.06% of Macy’s worth $4,221,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Discovery Capital Management LLC CT grew its position in Macy’s by 239.0% during the second quarter. Discovery Capital Management LLC CT now owns 2,871,297 shares of the company’s stock worth $66,729,000 after buying an additional 2,024,297 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Macy’s by 26.6% during the second quarter. Dimensional Fund Advisors LP now owns 5,323,131 shares of the company’s stock worth $123,703,000 after buying an additional 1,117,903 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in Macy’s by 1,095.5% during the second quarter. State of New Jersey Common Pension Fund D now owns 1,189,500 shares of the company’s stock worth $27,644,000 after buying an additional 1,090,000 shares in the last quarter. BlackRock Inc. grew its position in Macy’s by 3.9% during the second quarter. BlackRock Inc. now owns 25,380,303 shares of the company’s stock worth $589,839,000 after buying an additional 963,487 shares in the last quarter. Finally, Douglas Lane & Associates LLC grew its position in Macy’s by 57.8% during the third quarter. Douglas Lane & Associates LLC now owns 2,243,096 shares of the company’s stock worth $48,944,000 after buying an additional 821,366 shares in the last quarter. 81.96% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on the company. Vetr cut Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 target price for the company. in a research note on Thursday, July 27th. Wedbush restated a “hold” rating on shares of Macy’s in a research note on Monday, July 31st. Zacks Investment Research cut Macy’s from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Deutsche Bank AG upped their target price on Macy’s from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday, August 8th. Finally, BidaskClub upgraded Macy’s from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Macy’s currently has an average rating of “Hold” and an average price target of $26.31.
Shares of Macy’s Inc (NYSE M) opened at $19.98 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.42 and a quick ratio of 0.34. The company has a market capitalization of $6,085.09, a PE ratio of 6.73, a PEG ratio of 0.68 and a beta of 0.86. Macy’s Inc has a 12 month low of $17.41 and a 12 month high of $45.41.
Macy’s (NYSE:M) last issued its earnings results on Thursday, November 9th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.04. The company had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.31 billion. Macy’s had a return on equity of 21.06% and a net margin of 2.83%. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the business posted $0.17 EPS. analysts anticipate that Macy’s Inc will post 3.39 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be paid a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.51 annualized dividend and a dividend yield of 7.56%. Macy’s’s dividend payout ratio is presently 66.52%.
In other Macy’s news, Director John A. Bryant purchased 9,825 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were acquired at an average price of $20.32 per share, with a total value of $199,644.00. Following the transaction, the director now owns 9,825 shares in the company, valued at $199,644. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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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