Andra AP fonden cut its holdings in shares of Macy’s Inc (NYSE:M) by 27.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 252,000 shares of the company’s stock after selling 93,500 shares during the period. Andra AP fonden’s holdings in Macy’s were worth $9,432,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Macy’s by 4.9% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 28,887 shares of the company’s stock valued at $1,081,000 after purchasing an additional 1,337 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of Macy’s by 21.1% in the second quarter. Whittier Trust Co. now owns 7,966 shares of the company’s stock valued at $462,000 after purchasing an additional 1,390 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Macy’s by 3.7% in the second quarter. Amalgamated Bank now owns 39,333 shares of the company’s stock valued at $1,472,000 after purchasing an additional 1,402 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Macy’s by 2.3% in the second quarter. Crossmark Global Holdings Inc. now owns 72,053 shares of the company’s stock valued at $2,697,000 after purchasing an additional 1,609 shares in the last quarter. Finally, Charter Trust Co. lifted its holdings in shares of Macy’s by 12.1% in the second quarter. Charter Trust Co. now owns 15,106 shares of the company’s stock valued at $565,000 after purchasing an additional 1,630 shares in the last quarter. Hedge funds and other institutional investors own 90.32% of the company’s stock.

A number of analysts have recently commented on the company. Standpoint Research lowered Macy’s from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Susquehanna Bancshares upgraded Macy’s from a “neutral” rating to a “buy” rating and boosted their price target for the company from $25.00 to $43.00 in a report on Tuesday, May 22nd. Evercore ISI boosted their price target on Macy’s from $17.41 to $36.00 and gave the company a “buy” rating in a report on Monday, June 4th. Morgan Stanley boosted their price target on Macy’s from $25.00 to $27.00 and gave the company an “underweight” rating in a report on Thursday, August 16th. Finally, Royal Bank of Canada set a $39.00 price target on Macy’s and gave the company a “hold” rating in a report on Thursday, August 16th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $33.57.

In related news, Director William H. Lenehan purchased 2,092 shares of Macy’s stock in a transaction that occurred on Friday, August 17th. The shares were acquired at an average price of $35.78 per share, with a total value of $74,851.76. Following the completion of the transaction, the director now directly owns 8,060 shares of the company’s stock, valued at approximately $288,386.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Harry A. Lawton III sold 28,684 shares of the 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 sale, the president now directly owns 54,722 shares in the company, valued at approximately $1,972,728.10. The disclosure for this sale can be found here. 2.36% of the stock is currently owned by corporate insiders.

M opened at $35.16 on Tuesday. Macy’s Inc has a 52-week low of $17.41 and a 52-week high of $41.99. The stock has a market cap of $11.17 billion, a P/E ratio of 9.33, a P/E/G ratio of 1.09 and a beta of 0.69. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.43 and a current ratio of 1.53.

Macy’s (NYSE:M) last released its earnings results on Wednesday, August 15th. The company reported $0.70 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same quarter in the prior year, the company posted $0.48 earnings per share. Macy’s’s revenue was down 1.1% on a year-over-year basis. equities research analysts predict that Macy’s Inc will post 3.93 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 14th will be given a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 4.29%. The ex-dividend date is Thursday, September 13th. Macy’s’s payout ratio is 40.05%.

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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