Raymond James Financial Services Advisors Inc. raised its position in Macy’s, Inc. (NYSE:M – Get Rating) by 6.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 45,762 shares of the company’s stock after buying an additional 2,819 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Macy’s were worth $717,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Monetary Management Group Inc. bought a new position in shares of Macy’s in the 2nd quarter valued at about $37,000. Estabrook Capital Management grew its stake in Macy’s by 77.8% in the first quarter. Estabrook Capital Management now owns 1,600 shares of the company’s stock valued at $39,000 after purchasing an additional 700 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Macy’s by 52.3% during the 1st quarter. Lazard Asset Management LLC now owns 1,995 shares of the company’s stock worth $48,000 after purchasing an additional 685 shares during the last quarter. CoreCap Advisors LLC bought a new stake in shares of Macy’s during the 2nd quarter worth approximately $107,000. Finally, Infini Capital Management Ltd acquired a new stake in shares of Macy’s in the 2nd quarter valued at approximately $115,000. Institutional investors and hedge funds own 80.19% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on M shares. StockNews.com lowered shares of Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, December 30th. Citigroup raised 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, November 18th. JPMorgan Chase & Co. lowered their price target on Macy’s from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft cut their price objective on Macy’s from $23.00 to $22.00 in a research report on Tuesday, January 10th. Finally, Credit Suisse Group boosted their target price on Macy’s to $19.00 in a report on Monday, November 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $24.64.
Macy’s Trading Up 2.8 %
Macy’s (NYSE:M – Get Rating) last announced its earnings results on Thursday, November 17th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.33. Macy’s had a net margin of 5.68% and a return on equity of 42.58%. The firm had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same quarter in the prior year, the business posted $1.23 EPS. The business’s revenue was down 3.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Macy’s, Inc. will post 4.18 EPS for the current year.
Macy’s Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th were given a dividend of $0.1575 per share. The ex-dividend date was Wednesday, December 14th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 2.69%. Macy’s’s payout ratio is 13.13%.
Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.
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