Stevens Capital Management LP decreased its stake in shares of Macy’s Inc (NYSE:M) by 87.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,801 shares of the company’s stock after selling 186,439 shares during the period. Stevens Capital Management LP’s holdings in Macy’s were worth $767,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Vestpro Financial Partners Inc. dba CPF Texas purchased a new position in Macy’s in the fourth quarter worth $104,000. Delpha Capital Management LLC purchased a new position in Macy’s in the fourth quarter worth $117,000. SeaCrest Wealth Management LLC purchased a new position in Macy’s in the fourth quarter worth $119,000. Harvest Fund Management Co. Ltd boosted its position in Macy’s by 78.4% in the first quarter. Harvest Fund Management Co. Ltd now owns 4,067 shares of the company’s stock worth $120,000 after purchasing an additional 1,787 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new position in Macy’s in the fourth quarter worth $127,000. 88.96% of the stock is currently owned by institutional investors.
Shares of NYSE M opened at $33.48 on Thursday. Macy’s Inc has a one year low of $17.41 and a one year high of $35.11. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.48 and a current ratio of 1.52. The firm has a market cap of $10.09 billion, a PE ratio of 8.88, a PEG ratio of 1.03 and a beta of 0.73.
Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, May 16th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.12. Macy’s had a return on equity of 24.56% and a net margin of 6.45%. The firm had revenue of $5.54 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the prior year, the firm earned $0.24 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. research analysts expect that Macy’s Inc will post 3.78 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 15th will be paid a dividend of $0.3775 per share. The ex-dividend date is Thursday, June 14th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 4.51%. Macy’s’s payout ratio is 40.05%.
In related news, CFO Karen M. Hoguet sold 67,515 shares of the business’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $29.39, for a total transaction of $1,984,265.85. Following the sale, the chief financial officer now directly owns 67,515 shares in the company, valued at approximately $1,984,265.85. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Marna C. Whittington sold 20,000 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $30.30, for a total value of $606,000.00. Following the sale, the director now owns 54,834 shares in the company, valued at $1,661,470.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 107,392 shares of company stock worth $3,173,164. 2.36% of the stock is currently owned by corporate insiders.
Several research firms have weighed in on M. Jefferies Group reissued a “hold” rating on shares of Macy’s in a research report on Tuesday, February 27th. Guggenheim reissued a “buy” rating and issued a $36.00 price objective on shares of Macy’s in a research report on Wednesday, May 16th. Zacks Investment Research cut Macy’s from a “buy” rating to a “hold” rating in a research report on Tuesday, May 8th. ValuEngine raised Macy’s from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Susquehanna Bancshares raised Macy’s from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $25.00 to $43.00 in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $28.57.
Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.
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