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.
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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.
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