Trading Report: The Nationwide Fund Advisors reaches $2,941,000 position of Macy’s Inc. (M)

The Nationwide Fund Advisors reaches $2,941,000 position  of Macy’s Inc. (M)

Nationwide Fund Advisors cut its stake in Macy’s Inc. (NYSE:M) by 76.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 87,509 shares of the company’s stock after selling 276,829 shares during the period. Nationwide Fund Advisors’ holdings in Macy’s were worth $2,941,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of M. Beese Fulmer Investment Management Inc. raised its position in Macy’s by 0.7% in the second quarter. Beese Fulmer Investment Management Inc. now owns 5,998 shares of the company’s stock worth $202,000 after buying an additional 40 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its position in Macy’s by 0.3% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 26,896 shares of the company’s stock worth $903,000 after buying an additional 72 shares during the period. Barnett & Company Inc. raised its position in Macy’s by 0.4% in the second quarter. Barnett & Company Inc. now owns 40,128 shares of the company’s stock worth $1,349,000 after buying an additional 175 shares during the period. Selway Asset Management raised its position in Macy’s by 0.4% in the second quarter. Selway Asset Management now owns 48,500 shares of the company’s stock worth $1,630,000 after buying an additional 200 shares during the period. Finally, State Treasurer State of Michigan raised its position in Macy’s by 0.3% in the second quarter. State Treasurer State of Michigan now owns 107,102 shares of the company’s stock worth $3,600,000 after buying an additional 300 shares during the period. Institutional investors own 83.27% of the company’s stock.

Shares of Macy’s Inc. (NYSE:M) traded up 0.96% during mid-day trading on Friday, reaching $38.04. 6,688,988 shares of the company were exchanged. Macy’s Inc. has a 12 month low of $29.94 and a 12 month high of $52.48. The company’s 50 day moving average price is $36.91 and its 200 day moving average price is $36.46. The firm has a market capitalization of $11.73 billion, a PE ratio of 15.25 and a beta of 0.89.

Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, August 11th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.09. Macy’s had a net margin of 2.99% and a return on equity of 27.68%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same period in the previous year, the firm earned $0.64 EPS. Macy’s’s revenue was down 3.9% on a year-over-year basis. Equities analysts anticipate that Macy’s Inc. will post $3.36 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were issued a $0.3775 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 3.97%. Macy’s’s payout ratio is currently 60.64%.

Several analysts have recently commented on M shares. Vetr raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $38.48 price target on the stock in a research report on Monday, September 12th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $40.00 price target (up previously from $35.00) on shares of Macy’s in a research report on Saturday, August 13th. Cowen and Company reaffirmed a “market perform” rating on shares of Macy’s in a research report on Saturday, June 25th. Guggenheim started coverage on shares of Macy’s in a research report on Friday, September 30th. They set a “buy” rating and a $45.00 price target on the stock. Finally, Telsey Advisory Group lifted their price target on shares of Macy’s from $36.00 to $42.00 and gave the company a “market perform” rating in a research report on Friday, August 12th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the company. Macy’s currently has an average rating of “Hold” and an average target price of $43.98.

About Macy’s

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.

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