Macy’s Inc (M) Stake Lowered by Wexford Capital LP

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Wexford Capital LP lowered its holdings in Macy’s Inc (NYSE:M) by 84.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 68,273 shares of the company’s stock after selling 376,727 shares during the quarter. Wexford Capital LP’s holdings in Macy’s were worth $2,030,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of M. BlackRock Inc. boosted its holdings in Macy’s by 10.6% during the 1st quarter. BlackRock Inc. now owns 27,873,644 shares of the company’s stock worth $828,961,000 after acquiring an additional 2,667,028 shares during the last quarter. American International Group Inc. boosted its holdings in Macy’s by 98.9% during the 4th quarter. American International Group Inc. now owns 23,923,612 shares of the company’s stock worth $602,636,000 after acquiring an additional 11,894,858 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Macy’s by 28.0% during the 4th quarter. Bank of New York Mellon Corp now owns 10,653,773 shares of the company’s stock worth $268,367,000 after acquiring an additional 2,328,072 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Macy’s by 13.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,864,888 shares of the company’s stock worth $263,642,000 after acquiring an additional 1,064,651 shares during the last quarter. Finally, Contrarius Investment Management Ltd boosted its holdings in Macy’s by 2.5% during the 1st quarter. Contrarius Investment Management Ltd now owns 6,307,867 shares of the company’s stock worth $187,596,000 after acquiring an additional 154,835 shares during the last quarter. 88.42% of the stock is owned by institutional investors and hedge funds.

In related news, Chairman Jeffrey Gennette purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, April 12th. The shares were purchased at an average cost of $29.10 per share, for a total transaction of $291,000.00. Following the completion of the transaction, the chairman now directly owns 89,303 shares in the company, valued at approximately $2,598,717.30. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.36% of the company’s stock.

A number of equities analysts have issued reports on M shares. Royal Bank of Canada set a $35.00 price objective on shares of Macy’s and gave the stock a “hold” rating in a report on Thursday, May 17th. UBS Group began coverage on Macy’s in a research note on Thursday. They set a “neutral” rating and a $39.00 target price on the stock. Gordon Haskett upgraded Macy’s from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Thursday, March 1st. Cowen reiterated a “hold” rating on shares of Macy’s in a research note on Thursday, June 7th. Finally, Northcoast Research reiterated a “neutral” rating on shares of Macy’s in a research note on Wednesday, May 16th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $30.96.

Macy’s traded down $1.89, reaching $37.43, during midday trading on Friday, MarketBeat Ratings reports. The stock had a trading volume of 7,849,752 shares, compared to its average volume of 9,052,062. Macy’s Inc has a 12 month low of $17.41 and a 12 month high of $41.33. The stock has a market capitalization of $12.05 billion, a P/E ratio of 9.93, a P/E/G ratio of 1.23 and a beta of 0.74. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.48 and a current ratio of 1.52.

Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, May 16th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.12. Macy’s had a return on equity of 24.56% and a net margin of 6.45%. The business had revenue of $5.54 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the previous year, the business posted $0.24 EPS. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. equities research analysts forecast that Macy’s Inc will post 3.77 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 15th will be given a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Thursday, June 14th. Macy’s’s dividend payout ratio is presently 40.05%.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.

Institutional Ownership by Quarter for Macy`s (NYSE:M)

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