ICM Asset Management Inc. WA boosted its position in Macy’s Inc. (NYSE:M) by 12.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,730 shares of the company’s stock after buying an additional 4,970 shares during the period. Macy’s makes up 2.2% of ICM Asset Management Inc. WA’s holdings, making the stock its 19th largest position. ICM Asset Management Inc. WA’s holdings in Macy’s were worth $1,503,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Americafirst Capital Management LLC purchased a new position in Macy’s during the second quarter worth about $133,000. Pacific Global Investment Management CO purchased a new position in Macy’s during the first quarter worth about $208,000. Advisory Services Network LLC increased its position in Macy’s by 13.3% in the second quarter. Advisory Services Network LLC now owns 4,800 shares of the company’s stock worth $161,000 after buying an additional 565 shares during the period. First Manhattan Co. increased its position in Macy’s by 56.7% in the second quarter. First Manhattan Co. now owns 4,966 shares of the company’s stock worth $166,000 after buying an additional 1,796 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Macy’s during the first quarter worth about $270,000. Institutional investors and hedge funds own 83.31% of the company’s stock.
Macy’s Inc. (NYSE:M) traded down 1.35% during trading on Monday, hitting $35.09. The stock had a trading volume of 7,208,845 shares. The company has a market cap of $10.82 billion, a PE ratio of 14.07 and a beta of 0.89. The company’s 50 day moving average is $36.51 and its 200-day moving average is $36.27. Macy’s Inc. has a 12 month low of $29.94 and a 12 month high of $52.48.
Macy’s (NYSE:M) last issued its quarterly earnings data on Thursday, August 11th. The company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.09. Macy’s had a return on equity of 27.68% and a net margin of 2.99%. The business earned $5.87 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The company’s revenue was down 3.9% on a year-over-year basis. On average, equities research analysts predict that Macy’s Inc. will post $3.36 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th were paid a $0.3775 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 4.30%. Macy’s’s payout ratio is presently 60.64%.
Several equities analysts have recently weighed in on the company. Vetr upgraded Macy’s from a “sell” rating to a “hold” rating and set a $35.76 price target for the company in a report on Wednesday, July 13th. Macquarie downgraded Macy’s from an “outperform” rating to a “neutral” rating in a report on Friday, August 12th. Royal Bank Of Canada lifted their price objective on Macy’s from $35.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, August 12th. Deutsche Bank AG lifted their price objective on Macy’s from $37.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, August 12th. Finally, Standpoint Research began coverage on Macy’s in a report on Thursday, August 25th. They issued a “buy” rating and a $72.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $43.98.
Macy’s Company Profile
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.