Stoneridge Investment Partners LLC Sells 962 Shares of Macy’s Inc. (M)
Stoneridge Investment Partners LLC cut its stake in shares of Macy’s Inc. (NYSE:M) by 1.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 85,684 shares of the company’s stock after selling 962 shares during the period. Stoneridge Investment Partners LLC’s holdings in Macy’s were worth $2,880,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Osborn Rohs Williams & Donohoe Ltd boosted its position in Macy’s by 5.5% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 7,150 shares of the company’s stock worth $240,000 after buying an additional 370 shares during the last quarter. Cedar Hill Associates LLC boosted its position in Macy’s by 0.3% in the second quarter. Cedar Hill Associates LLC now owns 197,542 shares of the company’s stock worth $6,639,000 after buying an additional 580 shares during the last quarter. Creative Planning boosted its position in Macy’s by 4.5% in the second quarter. Creative Planning now owns 14,694 shares of the company’s stock worth $494,000 after buying an additional 637 shares during the last quarter. Palo Capital Inc. boosted its position in Macy’s by 3.7% in the second quarter. Palo Capital Inc. now owns 18,574 shares of the company’s stock worth $624,000 after buying an additional 663 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in Macy’s by 1.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 42,687 shares of the company’s stock worth $1,493,000 after buying an additional 700 shares during the last quarter. 83.30% of the stock is owned by institutional investors and hedge funds.
Shares of Macy’s Inc. (NYSE:M) traded down 0.74% during mid-day trading on Tuesday, hitting $34.96. The stock had a trading volume of 4,226,918 shares. The company’s 50 day moving average price is $36.94 and its 200 day moving average price is $37.05. The stock has a market cap of $10.78 billion, a P/E ratio of 14.02 and a beta of 0.80. Macy’s Inc. has a 12-month low of $29.94 and a 12-month high of $53.70.
Macy’s (NYSE:M) last issued its quarterly earnings data on Thursday, August 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.09. Macy’s had a return on equity of 27.68% and a net margin of 2.99%. The firm earned $5.87 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same period in the previous year, the firm posted $0.64 EPS. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. Equities research analysts predict that Macy’s Inc. will post $3.36 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be given a dividend of $0.3775 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.51 annualized dividend and a dividend yield of 4.32%. Macy’s’s dividend payout ratio is currently 60.64%.
A number of equities analysts recently weighed in on the company. Citigroup Inc. raised Macy’s from a “neutral” rating to a “buy” rating and upped their price target for the stock from $35.42 to $44.00 in a report on Wednesday, September 14th. Vetr raised Macy’s from a “hold” rating to a “buy” rating and set a $38.48 price target for the company in a report on Monday, September 12th. Standpoint Research assumed coverage on Macy’s in a report on Thursday, August 25th. They issued a “buy” rating and a $72.00 price target for the company. Deutsche Bank AG raised Macy’s from a “sell” rating to a “hold” rating in a report on Thursday, August 25th. Finally, Zacks Investment Research raised Macy’s from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Tuesday, August 16th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $44.22.
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.
Want to see what other hedge funds are holding M? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macy’s Inc. (NYSE:M).
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 MarketBeat.com's FREE daily email newsletter.