MARSHALL WACE ASIA Ltd Purchases New Holdings in Macy’s Inc (NYSE:M)

MARSHALL WACE ASIA Ltd purchased a new stake in Macy’s Inc (NYSE:M) during the first quarter, according to its most recent filing with the SEC. The firm purchased 160,000 shares of the company’s stock, valued at approximately $3,845,000.

Other large investors also recently made changes to their positions in the company. Edmond DE Rothschild Holding S.A. boosted its position in shares of Macy’s by 3.4% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 14,428 shares of the company’s stock worth $347,000 after purchasing an additional 473 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD lifted its position in Macy’s by 2.3% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 21,440 shares of the company’s stock worth $515,000 after acquiring an additional 487 shares during the period. Destination Wealth Management lifted its position in Macy’s by 27.1% during the 1st quarter. Destination Wealth Management now owns 2,344 shares of the company’s stock worth $56,000 after acquiring an additional 500 shares during the period. Mason Street Advisors LLC lifted its position in Macy’s by 1.2% during the 1st quarter. Mason Street Advisors LLC now owns 43,868 shares of the company’s stock worth $1,054,000 after acquiring an additional 520 shares during the period. Finally, Signaturefd LLC lifted its position in Macy’s by 12.8% during the 1st quarter. Signaturefd LLC now owns 4,809 shares of the company’s stock worth $116,000 after acquiring an additional 544 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

In other Macy’s news, Director Joyce M. Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $24.30, for a total transaction of $243,000.00. Following the completion of the sale, the director now directly owns 13,647 shares in the company, valued at approximately $331,622.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Jeffrey Gennette acquired 5,000 shares of the business’s stock in a transaction on Friday, May 17th. The shares were purchased at an average price of $21.96 per share, with a total value of $109,800.00. Following the completion of the purchase, the chairman now owns 102,525 shares in the company, valued at approximately $2,251,449. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 20,000 shares of company stock valued at $432,950 and sold 16,921 shares valued at $421,238. 0.55% of the stock is owned by insiders.

Shares of Macy’s stock traded down $0.66 on Friday, hitting $21.11. The company’s stock had a trading volume of 115,830 shares, compared to its average volume of 10,240,738. The company has a quick ratio of 0.32, a current ratio of 1.42 and a debt-to-equity ratio of 1.19. Macy’s Inc has a 1 year low of $20.02 and a 1 year high of $41.99. The firm has a market cap of $6.58 billion, a PE ratio of 5.06, a P/E/G ratio of 0.92 and a beta of 0.50.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, May 15th. The company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.11. Macy’s had a return on equity of 20.66% and a net margin of 4.43%. The firm had revenue of $5.50 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the previous year, the business earned $0.48 EPS. Macy’s’s revenue for the quarter was down .7% compared to the same quarter last year. On average, sell-side analysts expect that Macy’s Inc will post 3.12 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.51 annualized dividend and a dividend yield of 7.15%. Macy’s’s dividend payout ratio is presently 36.12%.

A number of equities analysts have weighed in on the company. UBS Group set a $25.00 price objective on Macy’s and gave the company a “hold” rating in a research note on Friday, May 17th. Zacks Investment Research upgraded Macy’s from a “sell” rating to a “hold” rating in a research note on Thursday, May 16th. Deutsche Bank lifted their price objective on Macy’s from $27.00 to $28.00 and gave the company a “hold” rating in a research note on Thursday, May 16th. Goldman Sachs Group upgraded Macy’s from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $21.00 in a research note on Thursday, May 16th. Finally, Standpoint Research upgraded Macy’s from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. Macy’s currently has an average rating of “Hold” and an average target price of $26.58.

WARNING: This article was posted by Stock Observer and is the sole property of of Stock Observer. If you are viewing this article on another website, it was copied illegally and reposted in violation of U.S. & international trademark and copyright legislation. The original version of this article can be accessed at https://www.thestockobserver.com/2019/06/14/marshall-wace-asia-ltd-purchases-new-holdings-in-macys-inc-nysem.html.

Macy’s Company Profile

Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.

See Also: Bull Market

Want to see what other hedge funds are holding M? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macy’s Inc (NYSE:M).

Institutional Ownership by Quarter for Macy`s (NYSE:M)

Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter.