Todd Asset Management LLC bought a new position in Macy’s Inc (NYSE:M) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 423,488 shares of the company’s stock, valued at approximately $14,708,000.

Several other institutional investors have also bought and sold shares of M. Nissay Asset Management Corp Japan ADV lifted its position in Macy’s by 4.9% during 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 position in Macy’s by 21.1% during 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 position in Macy’s by 3.7% during 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. Penserra Capital Management LLC lifted its position in Macy’s by 16.5% during the third quarter. Penserra Capital Management LLC now owns 10,304 shares of the company’s stock valued at $357,000 after purchasing an additional 1,456 shares in the last quarter. Finally, Redpoint Investment Management Pty Ltd lifted its position in Macy’s by 26.0% during the third quarter. Redpoint Investment Management Pty Ltd now owns 7,362 shares of the company’s stock valued at $256,000 after purchasing an additional 1,519 shares in the last quarter. 90.78% of the stock is owned by institutional investors and hedge funds.

In other Macy’s news, insider C Elisa D. Garcia sold 4,628 shares of the business’s stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $35.85, for a total transaction of $165,913.80. Following the completion of the transaction, the insider now owns 10,727 shares in the company, valued at $384,562.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William H. Lenehan bought 3,154 shares of the company’s stock in a transaction on Friday, November 16th. The shares were acquired at an average price of $31.74 per share, with a total value of $100,107.96. Following the transaction, the director now directly owns 11,214 shares of the company’s stock, valued at $355,932.36. The disclosure for this purchase can be found here. Insiders have sold 233,312 shares of company stock valued at $7,817,972 in the last 90 days. Company insiders own 2.36% of the company’s stock.

M has been the topic of several analyst reports. Zacks Investment Research downgraded Macy’s from a “buy” rating to a “hold” rating in a research report on Thursday, August 23rd. ValuEngine downgraded Macy’s from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Standpoint Research downgraded Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. Deutsche Bank lifted their target price on Macy’s from $35.00 to $38.00 and gave the company a “hold” rating in a research report on Thursday, November 15th. Finally, Goldman Sachs Group initiated coverage on Macy’s in a research report on Monday, September 3rd. They set a “sell” rating and a $33.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $34.91.

NYSE:M opened at $33.08 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 0.24 and a debt-to-equity ratio of 0.97. The stock has a market cap of $10.22 billion, a price-to-earnings ratio of 8.77, a price-to-earnings-growth ratio of 0.96 and a beta of 0.62. Macy’s Inc has a 52 week low of $20.11 and a 52 week high of $41.99.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, November 14th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.13. Macy’s had a return on equity of 22.33% and a net margin of 6.72%. The business had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the previous year, the business earned $0.23 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, analysts predict that Macy’s Inc will post 4.09 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be given a dividend of $0.3775 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.51 annualized dividend and a dividend yield of 4.56%. Macy’s’s dividend payout ratio (DPR) is presently 40.05%.

TRADEMARK VIOLATION WARNING: “Todd Asset Management LLC Buys New Holdings in Macy’s Inc (M)” was reported by Daily Political and is owned by of Daily Political. If you are viewing this article on another domain, it was illegally copied and republished in violation of international copyright legislation. The correct version of this article can be accessed at https://www.dailypolitical.com/2018/11/20/todd-asset-management-llc-buys-new-holdings-in-macys-inc-m.html.

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.

Further Reading: Find a Trading Strategy That Works

Want to see what other hedge funds are holding M? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macy’s Inc (NYSE:M).

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

Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter.