Retirement Systems of Alabama reduced its stake in shares of Macy’s Inc. (NYSE:M) by 1.5% during the second quarter, Holdings Channel reports. The fund owned 157,223 shares of the company’s stock after selling 2,471 shares during the period. Retirement Systems of Alabama’s holdings in Macy’s were worth $5,284,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. Americafirst Capital Management LLC purchased a new stake in Macy’s during the second quarter worth approximately $133,000. First Manhattan Co. increased 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 in the last quarter. Pacific Global Investment Management CO purchased a new stake in Macy’s during the first quarter worth approximately $208,000. Osborn Rohs Williams & Donohoe Ltd increased 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 in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Macy’s during the first quarter worth approximately $270,000. Institutional investors and hedge funds own 83.27% of the company’s stock.
Shares of Macy’s Inc. (NYSE:M) traded down 1.97% during trading on Thursday, reaching $36.80. The company had a trading volume of 4,712,896 shares. Macy’s Inc. has a 1-year low of $29.94 and a 1-year high of $52.48. The firm has a market capitalization of $11.35 billion, a PE ratio of 14.76 and a beta of 0.89. The firm has a 50-day moving average of $36.70 and a 200 day moving average of $36.33.
Macy’s (NYSE:M) last announced its earnings results on Thursday, August 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.09. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.73 billion. Macy’s had a return on equity of 27.68% and a net margin of 2.99%. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.64 earnings per share. Analysts expect that Macy’s Inc. will post $3.36 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were paid a $0.3775 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.51 annualized dividend and a dividend yield of 4.10%. Macy’s’s dividend payout ratio (DPR) is 60.64%.
A number of brokerages have issued reports on M. Vetr downgraded Macy’s from a “strong-buy” rating to a “buy” rating and set a $35.84 price objective on the stock. in a research report on Monday, June 20th. Stifel Nicolaus restated a “hold” rating on shares of Macy’s in a research report on Thursday, June 23rd. Cowen and Company restated a “market perform” rating on shares of Macy’s in a research report on Saturday, June 25th. Deutsche Bank AG upped their price objective on Macy’s from $35.00 to $37.00 and gave the company a “hold” rating in a research report on Monday, July 25th. Finally, Zacks Investment Research upgraded Macy’s from a “sell” rating to a “hold” rating and set a $40.00 price objective on the stock in a research report on Tuesday, July 26th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $43.98.
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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