Whittier Trust Co. continued to hold its position in shares of Macy’s Inc. (NYSE:M) during the second quarter, Holdings Channel reports. The firm owned 8,876 shares of the company’s stock at the end of the second quarter. Whittier Trust Co.’s holdings in Macy’s were worth $298,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Americafirst Capital Management LLC acquired a new stake in Macy’s during the second quarter worth $133,000. Advisory Services Network LLC raised its stake in Macy’s by 13.3% in the second quarter. Advisory Services Network LLC now owns 4,800 shares of the company’s stock worth $161,000 after buying an additional 565 shares during the last quarter. First Manhattan Co. raised its stake in Macy’s by 56.7% in the second quarter. First Manhattan Co. now owns 4,966 shares of the company’s stock worth $166,000 after buying an additional 1,796 shares during the last quarter. Pacific Global Investment Management CO acquired a new stake in Macy’s during the first quarter worth $208,000. Finally, Osborn Rohs Williams & Donohoe Ltd raised its stake in Macy’s by 5.5% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 7,150 shares of the company’s stock worth $240,000 after buying an additional 370 shares during the last quarter. Institutional investors and hedge funds own 83.27% of the company’s stock.
Macy’s Inc. (NYSE:M) traded down 3.34% on Friday, hitting $35.57. 7,822,320 shares of the stock traded hands. The stock has a market cap of $10.97 billion, a price-to-earnings ratio of 14.26 and a beta of 0.89. Macy’s Inc. has a 12-month low of $29.94 and a 12-month high of $52.48. The firm’s 50-day moving average price is $36.61 and its 200-day moving average price is $36.33.
Macy’s (NYSE:M) last released its quarterly earnings data on Thursday, August 11th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.45 by $0.09. Macy’s had a net margin of 2.99% and a return on equity of 27.68%. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same period in the previous year, the firm earned $0.64 EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, equities research analysts anticipate that Macy’s Inc. will post $3.36 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th were paid a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date was Tuesday, September 13th. Macy’s’s dividend payout ratio is currently 60.64%.
M has been the topic of a number of recent analyst reports. Vetr raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $35.17 price target on the stock in a report on Tuesday, August 2nd. Zacks Investment Research raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Tuesday, August 16th. Standpoint Research initiated coverage on shares of Macy’s in a report on Thursday, August 25th. They set a “buy” rating and a $72.00 price target on the stock. Citigroup Inc. raised shares of Macy’s from a “neutral” rating to a “buy” rating and increased their price target for the stock from $35.42 to $44.00 in a report on Wednesday, September 14th. Finally, Guggenheim initiated coverage on shares of Macy’s in a report on Friday, September 30th. They set a “buy” rating and a $45.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Macy’s presently has an average rating of “Hold” and an average price target of $43.98.
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.
Want to see what other hedge funds are holding M? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macy’s Inc. (NYSE:M).
Receive News & Ratings for Macy's Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's Inc. and related companies with MarketBeat.com's FREE daily email newsletter.