Oppenheimer & Co. Inc. Acquires 637 Shares of Macy’s Inc (NYSE:M)
Oppenheimer & Co. Inc. boosted its holdings in shares of Macy’s Inc (NYSE:M) by 2.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 22,232 shares of the company’s stock after acquiring an additional 637 shares during the period. Oppenheimer & Co. Inc.’s holdings in Macy’s were worth $477,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its holdings in Macy’s by 351.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 7,708 shares of the company’s stock valued at $165,000 after acquiring an additional 6,000 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in Macy’s by 18.2% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 260,290 shares of the company’s stock valued at $5,586,000 after acquiring an additional 40,000 shares in the last quarter. Trexquant Investment LP bought a new position in Macy’s during the 2nd quarter valued at $3,279,000. Atria Investments LLC purchased a new position in Macy’s during the 2nd quarter worth $551,000. Finally, Bank of Montreal Can boosted its holdings in Macy’s by 19.1% during the 2nd quarter. Bank of Montreal Can now owns 588,351 shares of the company’s stock worth $12,625,000 after acquiring an additional 94,558 shares during the last quarter. Institutional investors and hedge funds own 84.40% of the company’s stock.
Several analysts have recently issued reports on M shares. UBS Group set a $25.00 target price on shares of Macy’s and gave the company a “hold” rating in a report on Friday, May 17th. Telsey Advisory Group restated a “market perform” rating and set a $18.00 price target (down from $25.00) on shares of Macy’s in a research report on Thursday, August 15th. Guggenheim lowered shares of Macy’s from a “buy” rating to a “neutral” rating in a research report on Friday, August 23rd. Zacks Investment Research raised shares of Macy’s from a “sell” rating to a “hold” rating in a report on Thursday, May 16th. Finally, Deutsche Bank lowered their price objective on Macy’s from $29.00 to $23.00 and set a “hold” rating on the stock in a research report on Thursday, August 15th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $23.83.
Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.17). The firm had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.55 billion. Macy’s had a return on equity of 18.74% and a net margin of 4.11%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.70 EPS. As a group, analysts predict that Macy’s Inc will post 2.88 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.377 per share. This represents a $1.51 annualized dividend and a dividend yield of 8.54%. The ex-dividend date of this dividend is Thursday, September 12th. Macy’s’s dividend payout ratio (DPR) is currently 36.12%.
In other news, CFO Paula A. Price sold 1,189 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $21.30, for a total transaction of $25,325.70. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.55% of the stock is owned by insiders.
Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.
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