Trade Report: Today: Olstein Capital Management L.P. Sold shares of Macy’s Inc. (M)

Today: Olstein Capital Management L.P. Sold shares of Macy’s Inc. (M)

Olstein Capital Management L.P. reduced its stake in shares of Macy’s Inc. (NYSE:M) by 24.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,000 shares of the company’s stock after selling 75,000 shares during the period. Olstein Capital Management L.P. owned 0.07% of Macy’s worth $8,484,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. First Manhattan Co. raised its stake in shares of 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 in the last quarter. MAI Capital Management raised its stake in shares of Macy’s by 16.0% in the second quarter. MAI Capital Management now owns 66,893 shares of the company’s stock worth $2,248,000 after buying an additional 9,228 shares in the last quarter. NN Investment Partners Holdings N.V. raised its stake in shares of Macy’s by 31.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 863,631 shares of the company’s stock worth $29,025,000 after buying an additional 205,400 shares in the last quarter. Breton Hill Capital Ltd. raised its stake in shares of Macy’s by 25.0% in the second quarter. Breton Hill Capital Ltd. now owns 25,898 shares of the company’s stock worth $870,000 after buying an additional 5,184 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Macy’s by 4.5% in the second quarter. Creative Planning now owns 14,694 shares of the company’s stock worth $494,000 after buying an additional 637 shares in the last quarter. 85.30% of the stock is currently owned by institutional investors.

Shares of Macy’s Inc. (NYSE:M) opened at 44.14 on Monday. The company has a 50 day moving average price of $38.51 and a 200-day moving average price of $35.85. The firm has a market capitalization of $13.49 billion, a PE ratio of 20.09 and a beta of 0.77. Macy’s Inc. has a 12 month low of $29.94 and a 12 month high of $45.50.

Macy’s (NYSE:M) last issued its earnings results on Thursday, November 10th. The company reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by $0.24. Macy’s had a net margin of 2.63% and a return on equity of 24.83%. The firm earned $5.63 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the previous year, the business posted $0.56 EPS. Macy’s’s revenue was down 4.2% compared to the same quarter last year. Equities research analysts expect that Macy’s Inc. will post $3.29 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 15th will be given a $0.3775 dividend. This represents a $1.51 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Tuesday, December 13th. Macy’s’s dividend payout ratio (DPR) is presently 69.27%.

M has been the topic of a number of recent research reports. Stifel Nicolaus reissued a “hold” rating on shares of Macy’s in a research note on Thursday, August 11th. Standpoint Research initiated coverage on Macy’s in a research note on Thursday, August 25th. They set a “buy” rating and a $72.00 price objective on the stock. Vetr lowered 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 reissued a “hold” rating and set a $38.00 price objective on shares of Macy’s in a research note on Thursday, October 20th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $42.73.

Macy’s Company Profile

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