Traders Sell Shares of Macy’s Inc (M) on Strength (M)
Traders sold shares of Macy’s Inc (NYSE:M) on strength during trading on Wednesday. $3.85 million flowed into the stock on the tick-up and $7.85 million flowed out of the stock on the tick-down, for a money net flow of $4.00 million out of the stock. Of all equities tracked, Macy’s had the 22nd highest net out-flow for the day. Macy’s traded up $0.58 for the day and closed at $21.59
A number of research firms recently weighed in on M. BidaskClub cut Macy’s from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Vetr cut Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 price target for the company. in a report on Thursday, July 27th. Zacks Investment Research cut Macy’s from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Macy’s in a report on Tuesday, August 15th. Finally, ValuEngine cut Macy’s from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $27.63.
The company has a 50 day moving average of $21.91 and a 200 day moving average of $25.51. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 10.08 and a beta of 0.83.
Macy’s (NYSE:M) last issued its quarterly earnings results on Thursday, August 10th. The company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. The business had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.52 billion. Macy’s had a net margin of 2.71% and a return on equity of 21.38%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 earnings per share. On average, analysts expect that Macy’s Inc will post $3.38 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a dividend of $0.3775 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.51 dividend on an annualized basis and a yield of 6.81%. Macy’s’s dividend payout ratio (DPR) is currently 68.64%.
In related news, Director William H. Lenehan acquired 4,390 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were bought at an average price of $22.72 per share, with a total value of $99,740.80. Following the transaction, the director now directly owns 5,968 shares of the company’s stock, valued at $135,592.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jeffrey Gennette acquired 13,085 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were bought at an average cost of $22.95 per share, for a total transaction of $300,300.75. Following the transaction, the insider now directly owns 89,053 shares in the company, valued at $2,043,766.35. The disclosure for this purchase can be found here. Insiders have acquired 27,300 shares of company stock worth $599,686 in the last ninety days. Insiders own 1.40% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of M. First Manhattan Co. increased its stake in Macy’s by 0.6% in the 1st quarter. First Manhattan Co. now owns 5,076 shares of the company’s stock valued at $188,000 after buying an additional 29 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Macy’s by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,623 shares of the company’s stock valued at $526,000 after buying an additional 65 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in Macy’s by 0.3% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 26,085 shares of the company’s stock valued at $773,000 after buying an additional 76 shares during the last quarter. Cleararc Capital Inc. increased its stake in Macy’s by 1.0% in the 1st quarter. Cleararc Capital Inc. now owns 12,795 shares of the company’s stock valued at $379,000 after buying an additional 123 shares during the last quarter. Finally, Advantus Capital Management Inc increased its stake in Macy’s by 0.6% in the 1st quarter. Advantus Capital Management Inc now owns 30,420 shares of the company’s stock valued at $902,000 after buying an additional 169 shares during the last quarter. Institutional investors own 81.71% of the company’s stock.
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Macy’s Company Profile
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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