State of Wisconsin Investment Board Boosts Position in Macy’s Inc (M)
State of Wisconsin Investment Board boosted its position in shares of Macy’s Inc (NYSE:M) by 5.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 282,444 shares of the company’s stock after acquiring an additional 13,741 shares during the quarter. State of Wisconsin Investment Board owned 0.09% of Macy’s worth $6,163,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Vantage Financial Partners Ltd. Inc. purchased a new stake in Macy’s during the second quarter valued at $335,000. Ffcm LLC grew its holdings in Macy’s by 251.6% during the second 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 period. Penserra Capital Management LLC grew its holdings in Macy’s by 51.1% during the second 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 period. Financial Architects Inc grew its holdings in Macy’s by 254.5% during the second quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock valued at $136,000 after purchasing an additional 4,200 shares during the period. Finally, Edge Wealth Management LLC bought a new stake in Macy’s during the second quarter valued at about $142,000. Institutional investors own 83.82% of the company’s stock.
In related news, Director John A. Bryant acquired 9,825 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were acquired at an average cost of $20.32 per share, for a total transaction of $199,644.00. Following the completion of the transaction, the director now directly owns 9,825 shares in the company, valued at approximately $199,644. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company’s stock.
Shares of Macy’s Inc (NYSE M) opened at $20.35 on Monday. Macy’s Inc has a 52-week low of $17.41 and a 52-week high of $45.41. 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 $6,198.61, a P/E ratio of 6.85, a price-to-earnings-growth ratio of 0.71 and a beta of 0.86.
Macy’s (NYSE:M) last issued its quarterly earnings data 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 return on equity of 21.20% and a net margin of 2.83%. The business had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same period in the prior year, the business posted $0.17 earnings per share. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. equities research analysts predict that Macy’s Inc will post 3.39 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be given a dividend of $0.3775 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.51 dividend on an annualized basis and a yield of 7.42%. Macy’s’s dividend payout ratio (DPR) is presently 66.52%.
Several analysts have issued reports on the company. Jefferies Group LLC reissued a “hold” rating and set a $21.00 price target (down previously from $24.00) on shares of Macy’s in a report on Friday, August 11th. Cowen and Company reissued a “market perform” rating and set a $23.00 price target (down previously from $26.00) on shares of Macy’s in a report on Friday, August 11th. Deutsche Bank AG boosted their price target on Macy’s from $24.00 to $25.00 and gave the company a “hold” rating in a report on Tuesday, August 8th. Royal Bank Of Canada set a $23.00 price target on Macy’s and gave the company a “hold” rating in a report on Friday, August 11th. Finally, Zacks Investment Research lowered Macy’s from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $25.37.
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Macy’s Company Profile
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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