Chartwell Investment Partners LLC Sells 99,009 Shares of Macy’s Inc (M)
Chartwell Investment Partners LLC lessened its holdings in Macy’s Inc (NYSE:M) by 63.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 56,900 shares of the company’s stock after selling 99,009 shares during the period. Chartwell Investment Partners LLC’s holdings in Macy’s were worth $1,976,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Tobam grew its holdings in Macy’s by 6.2% during the 3rd quarter. Tobam now owns 226,131 shares of the company’s stock valued at $7,854,000 after buying an additional 13,281 shares in the last quarter. Commonwealth Bank of Australia grew its holdings in Macy’s by 3.1% during the 3rd quarter. Commonwealth Bank of Australia now owns 227,223 shares of the company’s stock valued at $7,886,000 after buying an additional 6,800 shares in the last quarter. Redpoint Investment Management Pty Ltd grew its holdings in Macy’s by 26.0% during the 3rd quarter. Redpoint Investment Management Pty Ltd now owns 7,362 shares of the company’s stock valued at $256,000 after buying an additional 1,519 shares in the last quarter. MML Investors Services LLC grew its holdings in Macy’s by 157.0% during the 3rd quarter. MML Investors Services LLC now owns 125,941 shares of the company’s stock valued at $4,374,000 after buying an additional 76,936 shares in the last quarter. Finally, Arlington Capital Management Inc. purchased a new stake in Macy’s during the 3rd quarter valued at approximately $676,000. Hedge funds and other institutional investors own 90.78% of the company’s stock.
A number of equities research analysts have issued reports on M shares. Zacks Investment Research raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Wednesday, October 3rd. Canaccord Genuity raised shares of Macy’s from an “average” rating to a “buy” rating and set a $5.50 price objective for the company in a report on Friday, November 16th. Deutsche Bank increased their price objective on shares of Macy’s from $33.00 to $35.00 and gave the company a “hold” rating in a report on Thursday, August 16th. Royal Bank of Canada set a $39.00 price objective on shares of Macy’s and gave the company a “hold” rating in a report on Thursday, August 16th. Finally, Standpoint Research lowered shares of Macy’s from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $34.91.
M stock opened at $31.95 on Wednesday. Macy’s Inc has a fifty-two week low of $20.31 and a fifty-two week high of $41.99. The company has a quick ratio of 0.24, a current ratio of 1.35 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $10.22 billion, a P/E ratio of 8.47, a price-to-earnings-growth ratio of 0.96 and a beta of 0.62.
Macy’s (NYSE:M) last posted its earnings results on Wednesday, November 14th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.13. Macy’s had a net margin of 6.72% and a return on equity of 22.33%. The firm had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the firm posted $0.23 earnings per share. Macy’s’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts predict that Macy’s Inc will post 4.09 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, December 14th will be given a $0.3775 dividend. The ex-dividend date is Thursday, December 13th. This represents a $1.51 dividend on an annualized basis and a yield of 4.73%. Macy’s’s dividend payout ratio is presently 40.05%.
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.
Read More: What is Compound Annual Growth Rate (CAGR)?
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).
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.