LMR Partners LLP raised its holdings in shares of Macy’s Inc (NYSE:M) by 142.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,806 shares of the company’s stock after purchasing an additional 9,869 shares during the period. LMR Partners LLP’s holdings in Macy’s were worth $500,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Private Capital Group LLC increased its position in shares of Macy’s by 110.1% during the fourth quarter. Private Capital Group LLC now owns 1,002 shares of the company’s stock valued at $30,000 after acquiring an additional 525 shares in the last quarter. We Are One Seven LLC bought a new stake in shares of Macy’s during the fourth quarter valued at approximately $35,000. Dubuque Bank & Trust Co. bought a new stake in shares of Macy’s during the fourth quarter valued at approximately $45,000. Braun Bostich & Associates Inc. increased its position in shares of Macy’s by 155.0% during the fourth quarter. Braun Bostich & Associates Inc. now owns 1,660 shares of the company’s stock valued at $49,000 after acquiring an additional 1,009 shares in the last quarter. Finally, Huntington National Bank bought a new stake in shares of Macy’s during the fourth quarter valued at approximately $59,000. 90.93% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on M. Bank of America downgraded shares of Macy’s from a “neutral” rating to an “underperform” rating in a research report on Thursday, January 10th. Gordon Haskett downgraded shares of Macy’s from a “buy” rating to a “hold” rating in a research report on Thursday, January 10th. Guggenheim reaffirmed a “buy” rating and issued a $30.00 target price on shares of Macy’s in a research report on Tuesday, February 26th. OTR Global downgraded shares of Macy’s to a “positive” rating in a research report on Wednesday, February 6th. Finally, Royal Bank of Canada cut their target price on shares of Macy’s to $29.00 and set a “sector perform” rating for the company in a research report on Friday, January 11th. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $31.78.
Macy’s (NYSE:M) last released its earnings results on Tuesday, February 26th. The company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.20. The company had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.40 billion. Macy’s had a net margin of 4.43% and a return on equity of 21.32%. Macy’s’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.82 EPS. As a group, equities analysts expect that Macy’s Inc will post 3.11 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be paid a $0.3775 dividend. This represents a $1.51 annualized dividend and a yield of 6.37%. The ex-dividend date of this dividend is Thursday, March 14th. Macy’s’s payout ratio is currently 36.12%.
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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.
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