Stock Traders Buy High Volume of Put Options on Macy’s (M)
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.
TRADEMARK VIOLATION NOTICE: This news story was originally reported by Watch List News and is owned by of Watch List News. If you are reading this news story on another website, it was stolen and reposted in violation of international copyright laws. The correct version of this news story can be read at https://www.watchlistnews.com/stock-traders-buy-high-volume-of-put-options-on-macys-m/1601897.html.
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.
Receive News & Ratings for Macy's Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.