FNY Investment Advisers LLC purchased a new stake in Macy’s Inc (NYSE:M) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,715 shares of the company’s stock, valued at approximately $57,000.
Other hedge funds also recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC boosted its stake in Macy’s by 646.8% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,501 shares of the company’s stock valued at $32,000 after buying an additional 1,300 shares in the last quarter. Bartlett & Co. LLC boosted its stake in Macy’s by 74.7% in the second quarter. Bartlett & Co. LLC now owns 1,889 shares of the company’s stock worth $41,000 after purchasing an additional 808 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new position in Macy’s in the second quarter worth $41,000. Capital Bank & Trust Co acquired a new position in Macy’s in the second quarter worth $43,000. Finally, Parallel Advisors LLC boosted its stake in Macy’s by 1,733.1% in the second quarter. Parallel Advisors LLC now owns 2,603 shares of the company’s stock worth $56,000 after purchasing an additional 2,461 shares in the last quarter. 83.61% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider C Elisa D. Garcia sold 5,089 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $15.48, for a total transaction of $78,777.72. Following the completion of the transaction, the insider now directly owns 16,825 shares of the company’s stock, valued at $260,451. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is owned by corporate insiders.
NYSE M opened at $15.45 on Tuesday. The stock has a 50-day simple moving average of $15.65 and a 200 day simple moving average of $19.62. The company has a market capitalization of $4.75 billion, a PE ratio of 3.70, a P/E/G ratio of 0.71 and a beta of 0.63. The company has a current ratio of 1.47, a quick ratio of 0.34 and a debt-to-equity ratio of 1.19. Macy’s Inc has a 12 month low of $14.11 and a 12 month high of $38.35.
Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.17). Macy’s had a return on equity of 18.74% and a net margin of 4.11%. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter last year, the company earned $0.70 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts predict that Macy’s Inc will post 2.88 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.3775 per share. This is a boost from Macy’s’s previous quarterly dividend of $0.38. This represents a $1.51 annualized dividend and a dividend yield of 9.77%. Macy’s’s dividend payout ratio is currently 36.12%.
M has been the topic of a number of recent analyst reports. Telsey Advisory Group reissued a “market perform” rating and issued a $18.00 price objective (down previously from $25.00) on shares of Macy’s in a research note on Thursday, August 15th. Guggenheim lowered Macy’s from a “buy” rating to a “neutral” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. lowered Macy’s from a “neutral” rating to an “underweight” rating in a research note on Wednesday, August 14th. Zacks Investment Research raised Macy’s from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Wednesday, October 16th. Finally, ValuEngine raised Macy’s from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Five analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $20.75.
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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