Macy’s Inc (M) Stake Boosted by Fjarde AP Fonden Fourth Swedish National Pension Fund
Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Macy’s Inc (NYSE:M) by 21.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,997 shares of the company’s stock after purchasing an additional 13,796 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Macy’s were worth $1,813,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in M. Penserra Capital Management LLC lifted its holdings in shares of Macy’s by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock valued at $109,000 after purchasing an additional 320 shares in the last quarter. Financial Architects Inc lifted its stake in Macy’s by 254.5% in the 2nd quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock valued at $136,000 after acquiring an additional 4,200 shares in the last quarter. Ropes Wealth Advisors LLC lifted its stake in Macy’s by 63.5% in the 1st quarter. Ropes Wealth Advisors LLC now owns 4,806 shares of the company’s stock valued at $142,000 after acquiring an additional 1,866 shares in the last quarter. Edge Wealth Management LLC bought a new stake in Macy’s in the 2nd quarter valued at approximately $142,000. Finally, First Manhattan Co. lifted its stake in Macy’s by 0.6% in the 1st quarter. First Manhattan Co. now owns 5,076 shares of the company’s stock valued at $188,000 after acquiring an additional 29 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.
Macy’s Inc (M) opened at 21.41 on Tuesday. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 9.73 and a beta of 0.83. Macy’s Inc has a 12-month low of $19.32 and a 12-month high of $45.41. The company’s 50 day moving average price is $21.99 and its 200-day moving average price is $25.76.
Macy’s (NYSE:M) last issued its quarterly earnings results on Thursday, August 10th. The company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.52 billion. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. Macy’s’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share. On average, equities analysts anticipate that Macy’s Inc will post $3.38 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a dividend of $0.3775 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.51 dividend on an annualized basis and a yield of 7.05%. Macy’s’s dividend payout ratio (DPR) is currently 68.64%.
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Several research firms have commented on M. Jefferies Group LLC restated a “hold” rating and issued a $27.00 target price on shares of Macy’s in a research note on Thursday, May 11th. Gordon Haskett began coverage on Macy’s in a research note on Tuesday, May 9th. They issued a “hold” rating and a $29.00 target price on the stock. Zacks Investment Research upgraded Macy’s from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Telsey Advisory Group cut their target price on Macy’s from $36.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, May 12th. Finally, Deutsche Bank AG cut their target price on Macy’s from $33.00 to $24.00 and set a “hold” rating on the stock in a research note on Friday, May 12th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $27.63.
In other Macy’s news, insider Jeffrey Gennette purchased 13,085 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were acquired at an average cost of $22.95 per share, for a total transaction of $300,300.75. Following the completion of the acquisition, the insider now owns 89,053 shares of the company’s stock, valued at approximately $2,043,766.35. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William H. Lenehan purchased 4,390 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were acquired at an average price of $22.72 per share, for a total transaction of $99,740.80. Following the completion of the acquisition, the director now directly owns 5,968 shares of the company’s stock, valued at approximately $135,592.96. The disclosure for this purchase can be found here. Insiders have purchased 27,300 shares of company stock worth $599,686 over the last quarter. 1.40% of the stock is currently owned by corporate insiders.
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
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