Nordea Investment Management AB decreased its stake in shares of Macy’s Inc (NYSE:M) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 162,764 shares of the company’s stock after selling 4,208 shares during the period. Nordea Investment Management AB owned approximately 0.05% of Macy’s worth $3,909,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in M. Allstate Corp bought a new position in shares of Macy’s in the first quarter valued at about $311,000. Cerebellum GP LLC raised its holdings in shares of Macy’s by 70.9% in the first quarter. Cerebellum GP LLC now owns 12,662 shares of the company’s stock valued at $304,000 after buying an additional 5,251 shares during the last quarter. Marshall Wace North America L.P. raised its holdings in shares of Macy’s by 106.8% in the first quarter. Marshall Wace North America L.P. now owns 189,649 shares of the company’s stock valued at $4,558,000 after buying an additional 97,921 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Macy’s by 20,714.6% in the first quarter. Marshall Wace LLP now owns 279,540 shares of the company’s stock valued at $6,718,000 after buying an additional 278,197 shares during the last quarter. Finally, Meridian Wealth Management LLC bought a new position in shares of Macy’s in the first quarter valued at about $99,000. 87.26% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on the company. Goldman Sachs Group set a €28.60 ($33.26) price target on Hapag-Lloyd and gave the company a “neutral” rating in a report on Thursday, May 16th. Deutsche Bank boosted their price objective on Macy’s from $27.00 to $28.00 and gave the stock a “hold” rating in a report on Thursday, May 16th. Zacks Investment Research cut G1 Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Standpoint Research raised GAP from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Finally, Desjardins reissued an “average” rating and set a $5.25 price objective on shares of Macy’s in a report on Friday, March 22nd. 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 company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $26.58.
Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, May 15th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.11. Macy’s had a return on equity of 20.66% and a net margin of 4.43%. The company had revenue of $5.50 billion for the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the prior year, the business posted $0.48 EPS. The business’s revenue was down .7% compared to the same quarter last year. Analysts forecast that Macy’s Inc will post 3.12 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were given a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a yield of 7.01%. The ex-dividend date was Thursday, June 13th. Macy’s’s payout ratio is 36.12%.
In related news, President Harry A. Lawton III bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were bought at an average price of $21.37 per share, with a total value of $106,850.00. Following the completion of the transaction, the president now directly owns 31,038 shares in the company, valued at $663,282.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Paula A. Price sold 1,189 shares of the business’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $21.30, for a total value of $25,325.70. The disclosure for this sale can be found here. Insiders have acquired a total of 20,000 shares of company stock worth $432,950 in the last quarter. Company insiders own 0.55% of the company’s stock.
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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