Kentucky Retirement Systems purchased a new position in Macy’s Inc. (NYSE:M) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 26,225 shares of the company’s stock, valued at approximately $881,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP purchased a new stake in Macy’s during the first quarter worth approximately $16,133,000. Ladenburg Thalmann Financial Services Inc. increased its stake in Macy’s by 90.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,907 shares of the company’s stock worth $568,000 after buying an additional 6,144 shares in the last quarter. First Republic Investment Management Inc. increased its stake in Macy’s by 34.2% in the first quarter. First Republic Investment Management Inc. now owns 29,011 shares of the company’s stock worth $1,280,000 after buying an additional 7,389 shares in the last quarter. Osborn Rohs Williams & Donohoe Ltd increased its stake in Macy’s by 5.5% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 7,150 shares of the company’s stock worth $240,000 after buying an additional 370 shares in the last quarter. Finally, CenturyLink Investment Management Co increased its stake in Macy’s by 49.8% in the second quarter. CenturyLink Investment Management Co now owns 25,332 shares of the company’s stock worth $851,000 after buying an additional 8,427 shares in the last quarter. Institutional investors own 87.57% of the company’s stock.
Macy’s Inc. (NYSE:M) traded down 1.71% during trading on Friday, hitting $44.14. The company had a trading volume of 3,061,509 shares. Macy’s Inc. has a one year low of $29.94 and a one year high of $45.50. The stock has a market capitalization of $13.49 billion, a PE ratio of 20.09 and a beta of 0.77. The stock has a 50-day moving average of $38.51 and a 200-day moving average of $35.85.
Macy’s (NYSE:M) last issued its quarterly earnings data on Thursday, November 10th. The company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by $0.24. The business had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.65 billion. Macy’s had a return on equity of 24.83% and a net margin of 2.63%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 EPS. On average, equities analysts anticipate that Macy’s Inc. will post $3.29 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 15th will be paid a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Tuesday, December 13th. Macy’s’s dividend payout ratio is 69.27%.
A number of analysts have recently commented on the company. Stifel Nicolaus reissued a “hold” rating on shares of Macy’s in a research note on Thursday, August 11th. Standpoint Research assumed coverage on Macy’s in a research note on Thursday, August 25th. They issued a “buy” rating and a $72.00 price objective on the stock. Vetr downgraded Macy’s from a “hold” rating to a “sell” rating and set a $35.17 price objective on the stock. in a research note on Monday, September 5th. Deutsche Bank AG boosted their price objective on Macy’s from $37.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, August 12th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $38.00 target price on shares of Macy’s in a research report on Thursday, October 20th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company. Macy’s has a consensus rating of “Hold” and a consensus price target 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.