Louisiana State Employees Retirement System lowered its stake in Macy’s Inc. (NYSE:M) by 2.9% during the second quarter, Holdings Channel reports. The fund owned 20,200 shares of the company’s stock after selling 600 shares during the period. Louisiana State Employees Retirement System’s holdings in Macy’s were worth $679,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Macy’s by 0.3% in the first quarter. State Street Corp now owns 13,766,498 shares of the company’s stock worth $606,956,000 after buying an additional 39,136 shares in the last quarter. Marcato Capital Management LP increased its stake in shares of Macy’s by 12.5% in the first quarter. Marcato Capital Management LP now owns 2,514,826 shares of the company’s stock worth $110,879,000 after buying an additional 280,335 shares in the last quarter. Scopia Capital Management LP acquired a new stake in shares of Macy’s during the first quarter worth approximately $106,608,000. JPMorgan Chase & Co. increased its stake in shares of Macy’s by 155.9% in the first quarter. JPMorgan Chase & Co. now owns 2,088,466 shares of the company’s stock worth $92,081,000 after buying an additional 1,272,413 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Macy’s by 4.8% in the first quarter. Legal & General Group Plc now owns 1,646,581 shares of the company’s stock worth $72,594,000 after buying an additional 76,151 shares in the last quarter. 83.27% of the stock is owned by institutional investors.
Shares of Macy’s Inc. (NYSE:M) traded down 1.97% during trading on Thursday, hitting $36.80. The stock had a trading volume of 4,712,896 shares. The stock’s 50-day moving average price is $36.70 and its 200 day moving average price is $36.33. Macy’s Inc. has a one year low of $29.94 and a one year high of $52.48. The stock has a market cap of $11.35 billion, a price-to-earnings ratio of 14.76 and a beta of 0.89.
Macy’s (NYSE:M) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.09. The company earned $5.87 billion during the quarter, compared to analyst estimates of $5.73 billion. Macy’s had a net margin of 2.99% and a return on equity of 27.68%. The company’s revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the business posted $0.64 earnings per share. On average, equities analysts forecast that Macy’s Inc. will post $3.36 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were issued a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date was Tuesday, September 13th. Macy’s’s dividend payout ratio is currently 60.64%.
A number of brokerages recently weighed in on M. Vetr upgraded Macy’s from a “strong sell” rating to a “sell” rating and set a $35.17 target price on the stock in a report on Monday, August 22nd. Citigroup Inc. upgraded Macy’s from a “neutral” rating to a “buy” rating and lifted their target price for the company from $35.42 to $44.00 in a report on Wednesday, September 14th. Guggenheim began coverage on Macy’s in a report on Friday, September 30th. They issued a “buy” rating and a $45.00 target price on the stock. Credit Suisse Group AG cut Macy’s from an “outperform” rating to a “neutral” rating and set a $40.00 target price on the stock. in a report on Wednesday, September 28th. Finally, Deutsche Bank AG upgraded Macy’s from a “sell” rating to a “hold” rating in a report on Thursday, August 25th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company’s stock. Macy’s currently has a consensus rating of “Hold” and a consensus price target of $43.98.
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.