Macy’s Inc (M) Holdings Trimmed by Quantbot Technologies LP
Quantbot Technologies LP lowered its stake in shares of Macy’s Inc (NYSE:M) by 41.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,852 shares of the company’s stock after selling 61,828 shares during the period. Quantbot Technologies LP’s holdings in Macy’s were worth $1,916,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Macy’s by 2.1% in the second quarter. Vanguard Group Inc. now owns 30,612,902 shares of the company’s stock worth $711,444,000 after acquiring an additional 618,535 shares in the last quarter. BlackRock Inc. increased its position in shares of Macy’s by 3.9% in the second quarter. BlackRock Inc. now owns 25,380,303 shares of the company’s stock worth $589,839,000 after acquiring an additional 963,487 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Macy’s by 14.8% in the third quarter. Bank of New York Mellon Corp now owns 8,325,701 shares of the company’s stock worth $181,666,000 after acquiring an additional 1,076,502 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Macy’s by 26.6% in the second quarter. Dimensional Fund Advisors LP now owns 5,323,131 shares of the company’s stock worth $123,703,000 after acquiring an additional 1,117,903 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Macy’s by 75.3% in the third quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company’s stock worth $109,392,000 after acquiring an additional 2,153,110 shares in the last quarter. 83.17% of the stock is currently owned by institutional investors.
Macy’s Inc (NYSE:M) traded up $0.10 during midday trading on Friday, reaching $20.35. 13,958,388 shares of the company’s stock were exchanged, compared to its average volume of 9,824,692. Macy’s Inc has a 12-month low of $17.41 and a 12-month high of $45.41. The company has a quick ratio of 0.19, a current ratio of 1.29 and a debt-to-equity ratio of 1.49. The company has a market cap of $6,170.00, a P/E ratio of 6.63, a price-to-earnings-growth ratio of 0.68 and a beta of 0.86.
Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.04. Macy’s had a net margin of 2.83% and a return on equity of 21.20%. The company had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same period last year, the firm posted $0.17 EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. research analysts predict that Macy’s Inc will post 3.39 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be given a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 7.42%. Macy’s’s payout ratio is currently 66.52%.
In other Macy’s news, Director John A. Bryant purchased 9,825 shares of Macy’s stock in a transaction dated Wednesday, August 23rd. The shares were bought at an average cost of $20.32 per share, for a total transaction of $199,644.00. Following the transaction, the director now owns 9,825 shares in the company, valued at approximately $199,644. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.40% of the company’s stock.
Several equities research analysts have recently issued reports on M shares. Susquehanna Bancshares Inc set a $38.00 price objective on shares of Macy’s and gave the stock a “buy” rating in a research report on Friday, October 20th. Citigroup Inc. lowered shares of Macy’s from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $21.00 to $16.00 in a research report on Monday, October 30th. Royal Bank Of Canada set a $21.00 price objective on shares of Macy’s and gave the stock a “sector perform” rating in a research report on Friday, October 20th. Zacks Investment Research lowered shares of Macy’s from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $36.00 price objective on shares of Macy’s in a research report on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $25.37.
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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