Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in shares of Macy’s Inc. (NYSE:M) by 183.7% during the third quarter, Holdings Channel reports. The institutional investor owned 61,568 shares of the company’s stock after buying an additional 39,868 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Macy’s were worth $2,281,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of M. First Business Financial Services Inc. bought a new position in shares of Macy’s during the third quarter worth approximately $459,000. Klingenstein Fields & Co. LLC raised its position in shares of Macy’s by 2.5% in the third quarter. Klingenstein Fields & Co. LLC now owns 143,719 shares of the company’s stock worth $5,325,000 after buying an additional 3,505 shares in the last quarter. Aperio Group LLC raised its position in shares of Macy’s by 10.3% in the third quarter. Aperio Group LLC now owns 175,125 shares of the company’s stock worth $6,488,000 after buying an additional 16,389 shares in the last quarter. South Texas Money Management Ltd. acquired a new stake in shares of Macy’s during the third quarter valued at $8,349,000. Finally, First Trust Advisors LP increased its stake in shares of Macy’s by 56.7% in the third quarter. First Trust Advisors LP now owns 1,140,866 shares of the company’s stock valued at $42,269,000 after buying an additional 412,935 shares during the last quarter. 85.30% of the stock is currently owned by institutional investors and hedge funds.
Shares of Macy’s Inc. (NYSE:M) traded down 2.29% during midday trading on Monday, hitting $43.13. The company had a trading volume of 7,049,142 shares. Macy’s Inc. has a one year low of $29.94 and a one year high of $45.50. The stock’s 50-day moving average price is $38.65 and its 200-day moving average price is $35.96. The stock has a market capitalization of $13.18 billion, a price-to-earnings ratio of 19.63 and a beta of 0.77.
Macy’s (NYSE:M) last released its earnings results on Thursday, November 10th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.41 by $0.24. Macy’s had a return on equity of 24.83% and a net margin of 2.63%. The business had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the previous year, the company earned $0.56 earnings per share. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. Analysts predict that Macy’s Inc. will post $3.29 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 15th will be paid a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a yield of 3.50%. The ex-dividend date is Tuesday, December 13th. Macy’s’s payout ratio is presently 69.27%.
Several brokerages recently weighed in on M. Vetr upgraded Macy’s from a “buy” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research report on Monday, October 17th. Citigroup Inc. upgraded Macy’s from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $35.42 to $44.00 in a research report on Wednesday, September 14th. Guggenheim began coverage on Macy’s in a research report on Friday, September 30th. They issued a “buy” rating and a $45.00 price objective for the company. Zacks Investment Research downgraded Macy’s from a “buy” rating to a “hold” rating in a research report on Monday, October 24th. Finally, Credit Suisse Group AG downgraded Macy’s from an “outperform” rating to a “neutral” rating and set a $40.00 price objective for the company. in a research report on Wednesday, September 28th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $42.73.
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.