First Allied Advisory Services Inc. Has $226,000 Stake in Macy’s Inc (M)
First Allied Advisory Services Inc. decreased its stake in Macy’s Inc (NYSE:M) by 28.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,714 shares of the company’s stock after selling 3,920 shares during the period. First Allied Advisory Services Inc.’s holdings in Macy’s were worth $226,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Numeric Investors LLC boosted its holdings in Macy’s by 117.8% in the second quarter. Numeric Investors LLC now owns 23,300 shares of the company’s stock valued at $541,000 after purchasing an additional 12,600 shares during the last quarter. Voya Investment Management LLC boosted its holdings in Macy’s by 163.1% in the second quarter. Voya Investment Management LLC now owns 451,225 shares of the company’s stock valued at $10,487,000 after purchasing an additional 279,720 shares during the last quarter. Ally Financial Inc. boosted its holdings in Macy’s by 100.0% in the second quarter. Ally Financial Inc. now owns 150,000 shares of the company’s stock valued at $3,486,000 after purchasing an additional 75,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Macy’s by 26.6% in the second quarter. Dimensional Fund Advisors LP now owns 5,323,131 shares of the company’s stock valued at $123,703,000 after purchasing an additional 1,117,903 shares during the last quarter. Finally, Virtu KCG Holdings LLC boosted its holdings in Macy’s by 62.9% in the second quarter. Virtu KCG Holdings LLC now owns 52,937 shares of the company’s stock valued at $1,230,000 after purchasing an additional 20,442 shares during the last quarter. 81.97% of the stock is owned by institutional investors.
In related news, Director John A. Bryant acquired 9,825 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were bought at an average cost of $20.32 per share, with a total value of $199,644.00. Following the completion of the acquisition, the director now owns 9,825 shares of the company’s stock, valued at $199,644. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.40% of the stock is currently owned by insiders.
Shares of Macy’s Inc (NYSE:M) opened at 20.47 on Thursday. Macy’s Inc has a 12 month low of $19.32 and a 12 month high of $45.41. The firm has a market capitalization of $6.23 billion, a PE ratio of 9.30 and a beta of 0.87. The stock’s 50 day moving average price is $21.38 and its 200-day moving average price is $23.81.
Macy’s (NYSE:M) last released its quarterly earnings data on Thursday, August 10th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.52 billion. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. The company’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.51 earnings per share. On average, equities analysts anticipate that Macy’s Inc will post $3.40 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were issued a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 7.38%. The ex-dividend date of this dividend was Thursday, September 14th. Macy’s’s payout ratio is 68.64%.
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A number of research analysts recently commented on M shares. Zacks Investment Research downgraded Macy’s from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. BidaskClub raised Macy’s from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. BMO Capital Markets reissued an “outperform” rating on shares of Macy’s in a report on Thursday, September 14th. ValuEngine downgraded Macy’s from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Vetr raised Macy’s from a “buy” rating to a “strong-buy” rating and set a $26.51 price target for the company in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $26.92.
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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