Macy’s Inc (NYSE:M) was the target of some unusual options trading on Wednesday. Stock traders bought 813 put options on the company. This represents an increase of approximately 166% compared to the average volume of 306 put options.

Macy’s (M) opened at 21.82 on Monday. The company has a 50-day moving average of $21.53 and a 200 day moving average of $24.80. Macy’s has a 12-month low of $19.32 and a 12-month high of $45.41. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 9.92 and a beta of 0.83.

Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, August 10th. The company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.52 billion. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the business earned $0.51 EPS. Equities analysts anticipate that Macy’s will post $3.39 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a $0.3775 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.51 dividend on an annualized basis and a yield of 6.92%. Macy’s’s dividend payout ratio is currently 68.64%.

In other Macy’s news, Director John A. Bryant purchased 9,825 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was purchased at an average cost of $20.32 per share, with a total value of $199,644.00. Following the completion of the acquisition, the director now directly owns 9,825 shares of the company’s stock, valued at approximately $199,644. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.40% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Macy’s by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,623 shares of the company’s stock worth $526,000 after acquiring an additional 65 shares during the period. Cleararc Capital Inc. grew its position in shares of Macy’s by 1.0% in the first quarter. Cleararc Capital Inc. now owns 12,795 shares of the company’s stock valued at $379,000 after purchasing an additional 123 shares during the last quarter. Advantus Capital Management Inc increased its stake in shares of Macy’s by 0.6% in the first quarter. Advantus Capital Management Inc now owns 30,420 shares of the company’s stock worth $902,000 after purchasing an additional 169 shares during the period. Pacer Advisors Inc. increased its stake in shares of Macy’s by 3.2% in the first quarter. Pacer Advisors Inc. now owns 6,500 shares of the company’s stock worth $193,000 after purchasing an additional 200 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in shares of Macy’s by 1.1% in the second quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the company’s stock worth $439,000 after purchasing an additional 200 shares during the period. 81.97% of the stock is owned by institutional investors.

M has been the topic of a number of recent research reports. Cowen and Company reaffirmed a “hold” rating and issued a $23.00 target price on shares of Macy’s in a report on Thursday. Royal Bank Of Canada restated a “hold” rating and issued a $23.00 price objective on shares of Macy’s in a research note on Monday, September 18th. BMO Capital Markets reiterated an “outperform” rating on shares of Macy’s in a research note on Thursday, September 14th. ValuEngine lowered Macy’s from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub upgraded Macy’s from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Macy’s has an average rating of “Hold” and a consensus target price of $27.63.

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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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