Nomura Asset Management Co. Ltd. trimmed its stake in shares of Macy’s Inc (NYSE:M) by 4.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,893 shares of the company’s stock after selling 3,563 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Macy’s were worth $2,016,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. CIBC World Markets Inc. increased its position in shares of Macy’s by 123.7% during the first quarter. CIBC World Markets Inc. now owns 10,214 shares of the company’s stock valued at $245,000 after acquiring an additional 53,373 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Macy’s by 0.4% in the first quarter. BlackRock Inc. now owns 30,073,924 shares of the company’s stock valued at $722,677,000 after purchasing an additional 121,302 shares during the period. Signaturefd LLC boosted its stake in shares of Macy’s by 12.8% in the first quarter. Signaturefd LLC now owns 4,809 shares of the company’s stock valued at $116,000 after purchasing an additional 544 shares during the period. Avestar Capital LLC boosted its stake in shares of Macy’s by 2,168.2% in the first quarter. Avestar Capital LLC now owns 1,497 shares of the company’s stock valued at $35,000 after purchasing an additional 1,431 shares during the period. Finally, Synovus Financial Corp purchased a new position in shares of Macy’s in the first quarter valued at approximately $222,000. 87.23% of the stock is currently owned by institutional investors and hedge funds.
M has been the subject of a number of recent research reports. UBS Group set a $25.00 price target on shares of Macy’s and gave the stock a “hold” rating in a research note on Friday, May 17th. Goldman Sachs Group upgraded shares of Macy’s from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $21.00 in a research report on Thursday, May 16th. Deutsche Bank boosted their price objective on shares of Macy’s from $27.00 to $28.00 and gave the stock a “hold” rating in a research report on Thursday, May 16th. Zacks Investment Research downgraded shares of Macy’s from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. Finally, ValuEngine downgraded shares of Macy’s from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 28th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. Macy’s has an average rating of “Hold” and an average price target of $26.58.
NYSE:M traded down $0.07 during trading hours on Friday, hitting $21.46. The stock had a trading volume of 10,025,900 shares, compared to its average volume of 9,675,590. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.32 and a current ratio of 1.42. Macy’s Inc has a 1-year low of $20.02 and a 1-year high of $41.99. The firm has a 50 day simple moving average of $21.46. The company has a market capitalization of $6.65 billion, a P/E ratio of 5.13, a PEG ratio of 0.93 and a beta of 0.50.
Macy’s (NYSE:M) last released its earnings results on Wednesday, May 15th. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.11. The company had revenue of $5.50 billion during the quarter, compared to analysts’ expectations of $5.52 billion. Macy’s had a return on equity of 20.66% and a net margin of 4.43%. The business’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business posted $0.48 EPS. As a group, equities research analysts expect that Macy’s Inc will post 3.12 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a yield of 7.04%. The ex-dividend date is Thursday, June 13th. Macy’s’s payout ratio is 36.12%.
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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