Macy’s Inc (M) Position Maintained by Edmonds Duncan Registered Investment Advisors LLC
Edmonds Duncan Registered Investment Advisors LLC continued to hold its stake in shares of Macy’s Inc (NYSE:M) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,654 shares of the company’s stock at the close of the 2nd quarter. Edmonds Duncan Registered Investment Advisors LLC’s holdings in Macy’s were worth $224,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Norinchukin Bank The increased its stake in Macy’s by 2.9% during the second quarter. Norinchukin Bank The now owns 23,431 shares of the company’s stock worth $545,000 after acquiring an additional 670 shares during the last quarter. Bridgewater Associates LP increased its stake in Macy’s by 49.0% during the second quarter. Bridgewater Associates LP now owns 1,535,972 shares of the company’s stock worth $35,696,000 after acquiring an additional 505,200 shares during the last quarter. WBI Investments Inc. increased its stake in Macy’s by 11.6% during the second quarter. WBI Investments Inc. now owns 21,601 shares of the company’s stock worth $502,000 after acquiring an additional 2,249 shares during the last quarter. Riverhead Capital Management LLC increased its stake in Macy’s by 16.7% during the second quarter. Riverhead Capital Management LLC now owns 94,791 shares of the company’s stock worth $2,203,000 after acquiring an additional 13,569 shares during the last quarter. Finally, Vantage Financial Partners Ltd. Inc. bought a new stake in Macy’s during the second quarter worth approximately $335,000. 81.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Macy’s Inc (M) traded up 1.44% during mid-day trading on Wednesday, hitting $22.54. The company had a trading volume of 6,344,000 shares. Macy’s Inc has a 52-week low of $19.32 and a 52-week high of $45.41. The firm has a market capitalization of $6.86 billion, a price-to-earnings ratio of 10.25 and a beta of 0.83. The firm has a 50-day moving average price of $21.77 and a 200 day moving average price of $25.27.
Macy’s (NYSE:M) last posted its earnings results on Thursday, August 10th. The company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. Macy’s had a net margin of 2.71% and a return on equity of 21.38%. The firm had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter last year, the firm earned $0.51 EPS. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. Analysts expect that Macy’s Inc will post $3.38 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.51 annualized dividend and a yield of 6.80%. Macy’s’s dividend payout ratio (DPR) is presently 68.64%.
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In other Macy’s news, Director William H. Lenehan purchased 4,390 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was acquired at an average price of $22.72 per share, for a total transaction of $99,740.80. Following the completion of the purchase, the director now directly owns 5,968 shares in the company, valued at approximately $135,592.96. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director John A. Bryant purchased 9,825 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was acquired at an average price of $20.32 per share, with a total value of $199,644.00. Following the purchase, the director now owns 9,825 shares of the company’s stock, valued at $199,644. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by company insiders.
Several equities research analysts have weighed in on the company. UBS AG reissued a “neutral” rating and set a $21.00 price objective (down from $23.00) on shares of Macy’s in a research note on Monday, August 14th. Citigroup Inc. reduced their price objective on Macy’s from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, June 9th. Telsey Advisory Group reduced their price objective on Macy’s from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 7th. Jefferies Group LLC reduced their price objective on Macy’s from $27.00 to $24.00 and set a “hold” rating on the stock in a research note on Friday, June 9th. Finally, BidaskClub raised Macy’s from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $27.63.
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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