Dupont Capital Management Corp bought a new stake in shares of Macy’s Inc (NYSE:M) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 9,000 shares of the company’s stock, valued at approximately $140,000.
Several other large investors have also made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Macy’s by 646.8% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,501 shares of the company’s stock worth $32,000 after acquiring an additional 1,300 shares during the period. Bartlett & Co. LLC raised its holdings in shares of Macy’s by 74.7% during the 2nd quarter. Bartlett & Co. LLC now owns 1,889 shares of the company’s stock worth $41,000 after acquiring an additional 808 shares during the period. NumerixS Investment Technologies Inc purchased a new position in shares of Macy’s during the 2nd quarter worth $41,000. Capital Bank & Trust Co purchased a new position in shares of Macy’s during the 2nd quarter worth $43,000. Finally, Coastal Investment Advisors Inc. raised its holdings in shares of Macy’s by 79.6% during the 3rd quarter. Coastal Investment Advisors Inc. now owns 3,060 shares of the company’s stock worth $48,000 after acquiring an additional 1,356 shares during the period. Hedge funds and other institutional investors own 90.76% of the company’s stock.
Macy’s stock traded up $0.08 during trading hours on Monday, hitting $15.40. The stock had a trading volume of 18,074,300 shares, compared to its average volume of 11,549,176. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.28 and a quick ratio of 0.16. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 3.68, a PEG ratio of 0.78 and a beta of 0.60. Macy’s Inc has a 1-year low of $14.11 and a 1-year high of $35.06. The stock’s fifty day moving average is $15.66 and its two-hundred day moving average is $18.24.
Macy’s (NYSE:M) last posted its earnings results on Thursday, November 21st. The company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.06. Macy’s had a return on equity of 17.44% and a net margin of 3.91%. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same quarter in the prior year, the company earned $0.27 earnings per share. Macy’s’s revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Macy’s Inc will post 2.62 EPS for the current year.
The business 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 $0.3775 dividend. This is an increase from Macy’s’s previous quarterly dividend of $0.38. This represents a $1.51 annualized dividend and a dividend yield of 9.81%. The ex-dividend date is Thursday, December 12th. Macy’s’s dividend payout ratio is currently 36.12%.
In related news, insider C Elisa D. Garcia sold 5,089 shares of the 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 transaction, the insider now directly owns 16,825 shares in the company, valued at $260,451. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.55% of the stock is owned by corporate insiders.
A number of analysts recently issued reports on M shares. Guggenheim reissued a “hold” rating on shares of Macy’s in a research report on Thursday, November 21st. Bank of America reaffirmed a “sell” rating and issued a $12.00 target price (down from $14.00) on shares of Macy’s in a research report on Thursday, November 21st. JPMorgan Chase & Co. reaffirmed a “sell” rating and issued a $13.00 target price (down from $14.00) on shares of Macy’s in a research report on Thursday, November 21st. Credit Suisse Group downgraded Macy’s from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $19.00 to $12.00 in a research report on Friday, October 18th. Finally, Telsey Advisory Group dropped their target price on Macy’s from $18.00 to $16.00 and set a “market perform” rating for the company in a research report on Friday, November 22nd. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $18.38.
Macy’s Company Profile
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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