Macy’s Inc. (M) Position Decreased by Burke & Herbert Bank & Trust Co.
Burke & Herbert Bank & Trust Co. cut its position in shares of Macy’s Inc. (NYSE:M) by 11.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,591 shares of the company’s stock after selling 1,000 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Macy’s were worth $255,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of M. Brookfield Asset Management Inc. acquired a new stake in Macy’s during the first quarter worth approximately $4,409,000. Landscape Capital Management L.L.C. acquired a new stake in Macy’s during the first quarter worth approximately $2,280,000. NN Investment Partners Holdings N.V. acquired a new stake in Macy’s during the first quarter worth approximately $29,021,000. Benchmark Capital Advisors acquired a new stake in Macy’s during the first quarter worth approximately $220,000. Finally, JPMorgan Chase & Co. raised its stake in Macy’s by 155.9% in the first quarter. JPMorgan Chase & Co. now owns 2,088,466 shares of the company’s stock worth $92,081,000 after buying an additional 1,272,413 shares in the last quarter. 83.27% of the stock is owned by institutional investors and hedge funds.
Shares of Macy’s Inc. (NYSE:M) traded down 2.08% on Monday, reaching $36.28. 4,269,334 shares of the company were exchanged. The company’s 50 day moving average is $37.36 and its 200 day moving average is $36.70. Macy’s Inc. has a 12-month low of $29.94 and a 12-month high of $52.48. The firm has a market capitalization of $11.19 billion, a PE ratio of 14.55 and a beta of 0.89.
Macy’s (NYSE:M) last released its quarterly earnings data on Thursday, August 11th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.09. Macy’s had a net margin of 2.99% and a return on equity of 27.68%. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same period last year, the firm earned $0.64 earnings per share. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. Analysts forecast that Macy’s Inc. will post $3.36 earnings per share for the current 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 issued a dividend of $0.3775 per share. The ex-dividend date is Tuesday, September 13th. This represents a $1.51 dividend on an annualized basis and a yield of 4.16%. Macy’s’s dividend payout ratio (DPR) is presently 60.64%.
A number of research firms have commented on M. Stifel Nicolaus reaffirmed a “hold” rating on shares of Macy’s in a report on Thursday, August 11th. Zacks Investment Research raised shares of Macy’s from a “sell” rating to a “hold” rating and set a $40.00 price target on the stock in a research report on Tuesday, July 26th. Standpoint Research started coverage on shares of Macy’s in a research report on Thursday, August 25th. They set a “buy” rating and a $72.00 price target on the stock. Vetr cut shares of Macy’s from a “hold” rating to a “sell” rating and set a $35.17 price target on the stock. in a research report on Monday, September 5th. Finally, Deutsche Bank AG lifted their price target on shares of Macy’s from $37.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, August 12th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and nine have given a buy rating to the stock. Macy’s presently has a consensus rating of “Hold” and an average price target of $43.83.
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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