Atalanta Sosnoff Capital LLC decreased its position in Macy’s Inc. (NYSE:M) by 2.2% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 26,420 shares of the company’s stock after selling 600 shares during the period. Atalanta Sosnoff Capital LLC’s holdings in Macy’s were worth $888,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Marcato Capital Management LP boosted its stake in Macy’s by 12.5% in the first quarter. Marcato Capital Management LP now owns 2,514,826 shares of the company’s stock worth $110,879,000 after buying an additional 280,335 shares during the last quarter. Natixis acquired a new position in shares of Macy’s during the first quarter worth about $39,068,000. Scopia Capital Management LP acquired a new position in shares of Macy’s during the first quarter worth about $106,608,000. Douglas Lane & Associates LLC increased its position in shares of Macy’s by 9.7% in the second quarter. Douglas Lane & Associates LLC now owns 1,001,372 shares of the company’s stock worth $33,656,000 after buying an additional 88,508 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Macy’s during the first quarter worth about $5,516,000. 83.27% of the stock is owned by institutional investors.
Shares of Macy’s Inc. (NYSE:M) traded up 3.00% on Wednesday, hitting $36.01. The company’s stock had a trading volume of 7,009,324 shares. Macy’s Inc. has a 52 week low of $29.94 and a 52 week high of $53.11. The stock has a market capitalization of $11.11 billion, a P/E ratio of 14.44 and a beta of 0.80. The stock’s 50 day moving average price is $37.03 and its 200 day moving average price is $37.04.
Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, August 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.09. The company had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Macy’s had a return on equity of 27.68% and a net margin of 2.99%. The firm’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. On average, analysts forecast that Macy’s Inc. will post $3.36 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be issued a $0.3775 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.51 annualized dividend and a dividend yield of 4.19%. Macy’s’s dividend payout ratio is currently 60.64%.
Several equities analysts recently weighed in on M shares. Citigroup Inc. raised Macy’s from a “neutral” rating to a “buy” rating and raised their price objective for the company from $35.42 to $44.00 in a research note on Wednesday, September 14th. Vetr raised Macy’s from a “hold” rating to a “buy” rating and set a $38.48 price objective for the company in a research note on Monday, September 12th. Standpoint Research started coverage on Macy’s in a research note on Thursday, August 25th. They issued a “buy” rating and a $72.00 price objective for the company. Deutsche Bank AG raised Macy’s from a “sell” rating to a “hold” rating in a research note on Thursday, August 25th. Finally, Zacks Investment Research raised Macy’s from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Tuesday, August 16th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $44.22.
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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