Worldquant Millennium Quantitative Strategies LLC acquired a new stake in Macy’s Inc (NYSE:M) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 396,172 shares of the company’s stock, valued at approximately $14,829,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Macy’s by 4.9% in the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 28,887 shares of the company’s stock valued at $1,081,000 after acquiring an additional 1,337 shares during the last quarter. Whittier Trust Co. increased its holdings in shares of Macy’s by 21.1% in the 2nd quarter. Whittier Trust Co. now owns 7,966 shares of the company’s stock valued at $462,000 after acquiring an additional 1,390 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Macy’s by 3.7% in the 2nd quarter. Amalgamated Bank now owns 39,333 shares of the company’s stock valued at $1,472,000 after acquiring an additional 1,402 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of Macy’s by 2.3% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 72,053 shares of the company’s stock valued at $2,697,000 after acquiring an additional 1,609 shares during the last quarter. Finally, Charter Trust Co. increased its holdings in shares of Macy’s by 12.1% in the 2nd quarter. Charter Trust Co. now owns 15,106 shares of the company’s stock valued at $565,000 after acquiring an additional 1,630 shares during the last quarter. Institutional investors and hedge funds own 90.32% of the company’s stock.

Shares of M stock opened at $35.61 on Friday. Macy’s Inc has a twelve month low of $17.41 and a twelve month high of $41.99. The company has a market capitalization of $11.17 billion, a price-to-earnings ratio of 9.45, a P/E/G ratio of 1.09 and a beta of 0.69. The company has a current ratio of 1.53, a quick ratio of 0.43 and a debt-to-equity ratio of 0.93.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, August 15th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.20. Macy’s had a return on equity of 23.55% and a net margin of 6.65%. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same period last year, the business posted $0.48 EPS. The company’s revenue was down 1.1% on a year-over-year basis. equities analysts expect that Macy’s Inc will post 3.93 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be paid a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.51 annualized dividend and a dividend yield of 4.24%. Macy’s’s dividend payout ratio (DPR) is currently 40.05%.

A number of research firms recently issued reports on M. Susquehanna Bancshares restated a “positive” rating on shares of Macy’s in a research note on Thursday, June 7th. Cowen restated a “hold” rating on shares of Macy’s in a research note on Thursday, June 7th. Standpoint Research downgraded Macy’s from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Atlantic Securities downgraded Macy’s from an “overweight” rating to a “neutral” rating and set a $39.00 price target on the stock. in a research note on Wednesday, June 6th. They noted that the move was a valuation call. Finally, UBS Group began coverage on Macy’s in a research note on Thursday, June 21st. They set a “neutral” rating and a $39.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Macy’s has an average rating of “Hold” and a consensus price target of $33.57.

In other news, President Harry A. Lawton III sold 28,684 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $36.05, for a total value of $1,034,058.20. Following the completion of the sale, the president now directly owns 54,722 shares of the company’s stock, valued at approximately $1,972,728.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William H. Lenehan purchased 2,092 shares of Macy’s stock in a transaction dated Friday, August 17th. The stock was acquired at an average cost of $35.78 per share, with a total value of $74,851.76. Following the completion of the acquisition, the director now directly owns 8,060 shares in the company, valued at $288,386.80. The disclosure for this purchase can be found here. Company insiders own 2.36% of the company’s stock.

Macy’s Profile

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.

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Institutional Ownership by Quarter for Macy`s (NYSE:M)

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