Macy’s Inc (M) Position Lifted by Psagot Investment House Ltd.

Psagot Investment House Ltd. increased its stake in Macy’s Inc (NYSE:M) by 291.0% during the third quarter, HoldingsChannel.com reports. The firm owned 11,340 shares of the company’s stock after acquiring an additional 8,440 shares during the period. Psagot Investment House Ltd.’s holdings in Macy’s were worth $394,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of M. Pendal Group Ltd grew its position in Macy’s by 759.4% in the third quarter. Pendal Group Ltd now owns 207,160 shares of the company’s stock valued at $7,195,000 after acquiring an additional 183,056 shares during the last quarter. Virginia Retirement Systems ET AL grew its position in Macy’s by 424.5% in the third quarter. Virginia Retirement Systems ET AL now owns 81,300 shares of the company’s stock valued at $2,824,000 after acquiring an additional 65,800 shares during the last quarter. Cadence Capital Management LLC grew its position in Macy’s by 28.3% in the third quarter. Cadence Capital Management LLC now owns 37,318 shares of the company’s stock valued at $1,296,000 after acquiring an additional 8,241 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Macy’s by 117.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 28,697 shares of the company’s stock valued at $997,000 after acquiring an additional 15,485 shares during the last quarter. Finally, Stratos Wealth Partners LTD. bought a new position in Macy’s in the third quarter valued at about $356,000. Institutional investors own 91.27% of the company’s stock.

Macy’s stock opened at $37.79 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.43 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $11.37 billion, a P/E ratio of 10.02, a P/E/G ratio of 1.11 and a beta of 0.62. Macy’s Inc has a one year low of $17.80 and a one year high of $41.99.

Macy’s (NYSE:M) last posted its quarterly earnings data on Wednesday, August 15th. The company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.20. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.55 billion. Macy’s had a return on equity of 23.55% and a net margin of 6.65%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 earnings per share. Equities analysts predict that Macy’s Inc will post 3.93 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, December 14th will be paid a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date is Thursday, December 13th. Macy’s’s dividend payout ratio is currently 40.05%.

A number of analysts have recently commented on the company. Standpoint Research lowered Macy’s from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Morgan Stanley lifted their price target on Macy’s from $25.00 to $27.00 and gave the company an “underweight” rating in a research note on Thursday, August 16th. Royal Bank of Canada set a $39.00 price target on Macy’s and gave the company a “hold” rating in a research note on Thursday, August 16th. Zacks Investment Research raised Macy’s from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Tuesday, August 28th. Finally, ValuEngine lowered Macy’s from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Macy’s currently has a consensus rating of “Hold” and a consensus price target of $34.37.

In related news, President Harry A. Lawton III sold 28,684 shares of Macy’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $36.05, for a total value of $1,034,058.20. Following the transaction, the president now directly owns 54,722 shares of the company’s stock, valued at $1,972,728.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider C Elisa D. Garcia sold 4,628 shares of Macy’s stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $35.85, for a total value of $165,913.80. Following the completion of the transaction, the insider now directly owns 10,727 shares in the company, valued at $384,562.95. The disclosure for this sale can be found here. 2.36% of the stock is owned by insiders.

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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.

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

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