Macy's, Inc. (NYSE:M - Get Free Report) saw some unusual options trading activity on Tuesday. Stock traders acquired 45,970 call options on the stock. This represents an increase of approximately 158% compared to the average daily volume of 17,805 call options.
Institutional Investors Weigh In On Macy's
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Summit Securities Group LLC increased its holdings in Macy's by 106.0% in the first quarter. Summit Securities Group LLC now owns 2,200 shares of the company's stock valued at $28,000 after buying an additional 38,800 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Macy's in the first quarter worth approximately $29,000. UMB Bank n.a. lifted its position in shares of Macy's by 523.0% during the 2nd quarter. UMB Bank n.a. now owns 3,171 shares of the company's stock valued at $37,000 after acquiring an additional 2,662 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Macy's by 28.7% during the 2nd quarter. Fifth Third Bancorp now owns 4,876 shares of the company's stock valued at $57,000 after acquiring an additional 1,087 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of Macy's by 495.5% in the fourth quarter. Bessemer Group Inc. now owns 3,412 shares of the company's stock valued at $58,000 after purchasing an additional 2,839 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company's stock.
Analyst Ratings Changes
Several brokerages recently commented on M. Barclays started coverage on shares of Macy's in a report on Monday, April 28th. They set a "cautious" rating and a $12.00 target price for the company. Morgan Stanley reiterated a "negative" rating on shares of Macy's in a research note on Tuesday, May 6th. JPMorgan Chase & Co. cut their target price on shares of Macy's from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, May 29th. The Goldman Sachs Group downgraded shares of Macy's from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $17.00 to $12.00 in a research report on Tuesday, April 22nd. Finally, Telsey Advisory Group decreased their price target on shares of Macy's from $15.00 to $14.00 and set a "market perform" rating for the company in a research note on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $12.78.
Read Our Latest Analysis on M
Macy's Price Performance
Shares of M traded up $0.53 during trading hours on Tuesday, hitting $12.74. 7,669,251 shares of the stock were exchanged, compared to its average volume of 7,157,286. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.37 and a current ratio of 1.43. The stock's 50-day moving average price is $11.89 and its two-hundred day moving average price is $12.92. The company has a market cap of $3.46 billion, a price-to-earnings ratio of 6.46 and a beta of 1.71. Macy's has a 12-month low of $9.76 and a 12-month high of $18.13.
Macy's (NYSE:M - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.01. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.38 billion. Macy's had a return on equity of 16.34% and a net margin of 2.45%. The business's revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.27 EPS. Research analysts expect that Macy's will post 2.39 earnings per share for the current year.
Macy's Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a dividend of $0.1824 per share. This represents a $0.73 annualized dividend and a yield of 5.73%. The ex-dividend date was Friday, June 13th. Macy's's payout ratio is 37.06%.
Macy's Company Profile
(
Get Free Report)
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.
Further Reading
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