Parkside Investments LLC Acquires 52,048 Shares of Macy’s Inc (M)
Parkside Investments LLC boosted its holdings in Macy’s Inc (NYSE:M) by 125.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 93,440 shares of the company’s stock after acquiring an additional 52,048 shares during the quarter. Parkside Investments LLC’s holdings in Macy’s were worth $2,039,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Ffcm LLC lifted its position in Macy’s by 251.6% in the 2nd quarter. Ffcm LLC now owns 5,052 shares of the company’s stock valued at $120,000 after acquiring an additional 3,615 shares in the last quarter. Penserra Capital Management LLC lifted its position in Macy’s by 51.1% in the 2nd quarter. Penserra Capital Management LLC now owns 5,560 shares of the company’s stock valued at $129,000 after acquiring an additional 1,880 shares in the last quarter. Financial Architects Inc lifted its position in Macy’s by 254.5% in the 2nd quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock valued at $136,000 after acquiring an additional 4,200 shares in the last quarter. Edge Wealth Management LLC bought a new position in Macy’s in the 2nd quarter valued at about $142,000. Finally, Kistler Tiffany Companies LLC bought a new position in Macy’s in the 3rd quarter valued at about $148,000. 83.17% of the stock is currently owned by institutional investors and hedge funds.
Macy’s Inc (NYSE:M) traded up $0.48 during midday trading on Monday, hitting $19.98. 28,654,500 shares of the stock were exchanged, compared to its average volume of 9,716,253. Macy’s Inc has a 52 week low of $17.41 and a 52 week high of $45.41. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.29 and a quick ratio of 0.19. The company has a market cap of $5,740.00, a P/E ratio of 6.73, a P/E/G ratio of 0.69 and a beta of 0.86.
Macy’s (NYSE:M) last posted its quarterly earnings data on Thursday, November 9th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. The company had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.31 billion. Macy’s had a net margin of 2.83% and a return on equity of 21.20%. The firm’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 EPS. sell-side analysts predict that Macy’s Inc will post 3.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a yield of 7.56%. The ex-dividend date of this dividend is Thursday, December 14th. Macy’s’s payout ratio is presently 66.52%.
Several equities research analysts have commented on M shares. BMO Capital Markets reiterated a “buy” rating and issued a $36.00 price objective on shares of Macy’s in a research note on Thursday, November 2nd. Zacks Investment Research lowered shares of Macy’s from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. BidaskClub lowered shares of Macy’s from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Vetr lowered shares of Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 price objective for the company. in a research note on Thursday, July 27th. Finally, Citigroup Inc. lowered shares of Macy’s from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $21.00 to $16.00 in a research note on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $26.25.
In other Macy’s news, Director John A. Bryant bought 9,825 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were bought at an average price of $20.32 per share, for a total transaction of $199,644.00. Following the transaction, the director now directly owns 9,825 shares in the company, valued at $199,644. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by company insiders.
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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