Swiss National Bank Sells 18,900 Shares of Macy’s, Inc. (NYSE:M)

Swiss National Bank lessened its position in shares of Macy’s, Inc. (NYSE:MGet Rating) by 2.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 688,800 shares of the company’s stock after selling 18,900 shares during the quarter. Swiss National Bank’s holdings in Macy’s were worth $12,619,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in M. Arrowstreet Capital Limited Partnership increased its holdings in Macy’s by 27.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 10,106,073 shares of the company’s stock worth $246,184,000 after buying an additional 2,155,936 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Macy’s by 126.2% in the first quarter. Renaissance Technologies LLC now owns 3,796,764 shares of the company’s stock valued at $92,489,000 after acquiring an additional 2,118,174 shares in the last quarter. Vanguard Group Inc. lifted its position in Macy’s by 5.7% during the first quarter. Vanguard Group Inc. now owns 30,550,118 shares of the company’s stock valued at $744,202,000 after buying an additional 1,642,941 shares during the period. National Bank of Canada FI grew its stake in shares of Macy’s by 24,392.6% in the 2nd quarter. National Bank of Canada FI now owns 960,355 shares of the company’s stock worth $17,593,000 after buying an additional 956,434 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in Macy’s by 26.9% in the first quarter. LSV Asset Management now owns 3,392,457 shares of the company’s stock worth $82,640,000 after acquiring an additional 718,731 shares in the last quarter. Institutional investors own 85.57% of the company’s stock.

Macy’s Trading Down 1.9 %

Shares of NYSE M opened at $22.23 on Friday. Macy’s, Inc. has a twelve month low of $15.10 and a twelve month high of $37.71. The company has a quick ratio of 0.19, a current ratio of 1.09 and a debt-to-equity ratio of 0.86. The business has a fifty day simple moving average of $18.47 and a two-hundred day simple moving average of $19.20. The firm has a market cap of $6.02 billion, a PE ratio of 4.63, a price-to-earnings-growth ratio of 0.45 and a beta of 1.74.

Macy’s (NYSE:MGet Rating) last released its quarterly earnings data on Thursday, November 17th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.33. The company had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.20 billion. Macy’s had a net margin of 5.68% and a return on equity of 42.58%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.23 earnings per share. Analysts expect that Macy’s, Inc. will post 4.16 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 15th will be issued a dividend of $0.1575 per share. The ex-dividend date is Wednesday, December 14th. This represents a $0.63 dividend on an annualized basis and a yield of 2.83%. Macy’s’s dividend payout ratio is currently 13.13%.

Insider Buying and Selling at Macy’s

In other Macy’s news, SVP Paul Griscom sold 2,868 shares of the business’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $17.43, for a total value of $49,989.24. Following the completion of the transaction, the senior vice president now directly owns 4,688 shares in the company, valued at $81,711.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Jefferies Financial Group dropped their price objective on Macy’s from $30.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, September 15th. Deutsche Bank Aktiengesellschaft decreased their target price on Macy’s from $25.00 to $24.00 in a research note on Friday. Morgan Stanley decreased their price objective on Macy’s from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 24th. Evercore ISI dropped their target price on Macy’s from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, August 24th. Finally, Citigroup increased their target price on shares of Macy’s from $21.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $25.73.

Macy’s Company Profile

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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 January 29, 2022, it operated 725 department stores in the District of Columbia, Puerto Rico, and Guam under the Macy's, Macy's Backstage, Market by Macy's, Bloomingdale's, Bloomingdale's The Outlet, Bloomies, and bluemercury brands.

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

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