Pacer Advisors Inc. boosted its stake in shares of Macy’s Inc (NYSE:M) by 362.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 58,154 shares of the company’s stock after purchasing an additional 45,573 shares during the period. Pacer Advisors Inc.’s holdings in Macy’s were worth $1,269,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Macy’s by 2.1% in the second quarter. Vanguard Group Inc. now owns 30,612,902 shares of the company’s stock valued at $711,444,000 after buying an additional 618,535 shares during the last quarter. BlackRock Inc. lifted its position in shares of Macy’s by 3.9% in the second quarter. BlackRock Inc. now owns 25,380,303 shares of the company’s stock valued at $589,839,000 after buying an additional 963,487 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Macy’s by 14.8% in the third quarter. Bank of New York Mellon Corp now owns 8,325,701 shares of the company’s stock valued at $181,666,000 after buying an additional 1,076,502 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Macy’s by 26.6% in the second quarter. Dimensional Fund Advisors LP now owns 5,323,131 shares of the company’s stock valued at $123,703,000 after buying an additional 1,117,903 shares during the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Macy’s by 75.3% in the third quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company’s stock valued at $109,392,000 after buying an additional 2,153,110 shares during the last quarter. 82.27% of the stock is owned by hedge funds and other institutional investors.
Macy’s Inc (NYSE:M) traded up $0.19 during trading on Thursday, reaching $25.28. The company’s stock had a trading volume of 12,989,405 shares, compared to its average volume of 10,205,442. Macy’s Inc has a 12-month low of $17.41 and a 12-month high of $43.79. 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 company has a market cap of $7,710.00, a price-to-earnings ratio of 8.49, a PEG ratio of 0.87 and a beta of 0.97.
Macy’s (NYSE:M) last posted its quarterly earnings data on Thursday, November 9th. The company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.04. Macy’s had a return on equity of 21.20% and a net margin of 2.83%. The firm had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same quarter last year, the company earned $0.17 EPS. The company’s revenue was down 6.1% on a year-over-year basis. equities analysts expect that Macy’s Inc will post 3.39 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be paid a $0.3775 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.51 annualized dividend and a dividend yield of 5.97%. Macy’s’s payout ratio is 66.52%.
A number of analysts have recently issued reports on the company. BMO Capital Markets set a $36.00 price objective on Macy’s and gave the company a “buy” rating in a research report on Friday, August 11th. Cowen reaffirmed a “market perform” rating and issued a $23.00 price objective (down from $26.00) on shares of Macy’s in a research report on Friday, August 11th. BidaskClub cut Macy’s from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. ValuEngine raised Macy’s from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Zacks Investment Research cut Macy’s from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $25.41.
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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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