Macy’s Inc (M) Shares Sold by Carret Asset Management LLC
Carret Asset Management LLC reduced its stake in shares of Macy’s Inc (NYSE:M) by 9.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,260 shares of the company’s stock after selling 2,725 shares during the period. Carret Asset Management LLC’s holdings in Macy’s were worth $595,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of M. Ffcm LLC boosted its holdings in shares of Macy’s by 251.6% during the 2nd quarter. Ffcm LLC now owns 5,052 shares of the company’s stock worth $120,000 after purchasing an additional 3,615 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Macy’s by 51.1% during the 2nd quarter. Penserra Capital Management LLC now owns 5,560 shares of the company’s stock worth $129,000 after purchasing an additional 1,880 shares during the last quarter. Kistler Tiffany Companies LLC acquired a new position in shares of Macy’s during the 3rd quarter worth approximately $148,000. IFP Advisors Inc boosted its holdings in shares of Macy’s by 62.9% during the 3rd quarter. IFP Advisors Inc now owns 7,981 shares of the company’s stock worth $174,000 after purchasing an additional 3,083 shares during the last quarter. Finally, Westside Investment Management Inc. lifted its holdings in Macy’s by 3,191.7% in the second quarter. Westside Investment Management Inc. now owns 9,875 shares of the company’s stock valued at $208,000 after acquiring an additional 9,575 shares during the last quarter. Institutional investors and hedge funds own 82.27% of the company’s stock.
Shares of Macy’s Inc (NYSE:M) traded down $0.13 during midday trading on Thursday, reaching $25.09. The company’s stock had a trading volume of 12,347,600 shares, compared to its average volume of 10,193,630. The stock has a market capitalization of $7,681.17, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 0.87 and a beta of 0.97. The company has a current ratio of 1.29, a quick ratio of 0.19 and a debt-to-equity ratio of 1.49. Macy’s Inc has a 52 week low of $17.41 and a 52 week high of $43.79.
Macy’s (NYSE:M) last announced its earnings results on Thursday, November 9th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.31 billion. Macy’s had a return on equity of 21.20% and a net margin of 2.83%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 earnings per share. analysts predict that Macy’s Inc will post 3.39 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be given a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date of this dividend is Thursday, December 14th. Macy’s’s dividend payout ratio is currently 66.52%.
A number of research firms recently commented on M. Vetr cut Macy’s from a “strong-buy” rating to a “buy” rating and set a $27.26 price objective on the stock. in a report on Monday. BMO Capital Markets reiterated an “outperform” rating on shares of Macy’s in a report on Thursday, September 14th. Royal Bank Of Canada reiterated a “hold” rating and issued a $23.00 price objective on shares of Macy’s in a report on Monday, September 18th. Cowen reiterated a “hold” rating and issued a $23.00 price objective on shares of Macy’s in a report on Thursday, September 28th. Finally, ValuEngine cut Macy’s from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company. Macy’s currently has a consensus rating of “Hold” and an average target price of $25.41.
Macy’s Company Profile
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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