General American Investors Co. Inc. Has $8.93 Million Position in Macy’s Inc (M)

General American Investors Co. Inc. trimmed its position in shares of Macy’s Inc (NYSE:M) by 28.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 300,000 shares of the company’s stock after selling 120,000 shares during the period. General American Investors Co. Inc. owned about 0.10% of Macy’s worth $8,934,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of M. Vanguard Group Inc boosted its position in Macy’s by 6.5% in the 3rd quarter. Vanguard Group Inc now owns 35,205,128 shares of the company’s stock valued at $1,222,675,000 after buying an additional 2,133,597 shares during the period. BlackRock Inc. boosted its position in Macy’s by 5.0% in the 4th quarter. BlackRock Inc. now owns 29,952,622 shares of the company’s stock valued at $891,988,000 after buying an additional 1,419,975 shares during the period. AQR Capital Management LLC boosted its position in Macy’s by 88.7% in the 3rd quarter. AQR Capital Management LLC now owns 11,960,108 shares of the company’s stock valued at $415,374,000 after buying an additional 5,620,910 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Macy’s by 2,958.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,681,203 shares of the company’s stock valued at $224,000 after buying an additional 6,462,771 shares during the period. Finally, Geode Capital Management LLC boosted its position in Macy’s by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 5,150,836 shares of the company’s stock valued at $153,359,000 after buying an additional 355,028 shares during the period. Institutional investors own 91.77% of the company’s stock.

Several equities research analysts have recently weighed in on the stock. Guggenheim reaffirmed a “buy” rating and issued a $30.00 price target on shares of Macy’s in a research report on Tuesday, February 26th. Bank of America cut shares of Macy’s from a “neutral” rating to an “underperform” rating in a research report on Thursday, January 10th. Gordon Haskett cut shares of Macy’s from a “buy” rating to a “hold” rating in a research report on Thursday, January 10th. OTR Global cut shares of Macy’s to a “positive” rating in a research report on Wednesday, February 6th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $27.00 price target on shares of Macy’s in a research report on Wednesday, February 27th. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $30.22.

Shares of Macy’s stock opened at $23.31 on Monday. The company has a current ratio of 1.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.73. Macy’s Inc has a 12-month low of $22.73 and a 12-month high of $41.99. The company has a market cap of $7.17 billion, a price-to-earnings ratio of 5.58, a P/E/G ratio of 0.88 and a beta of 0.43.

Macy’s (NYSE:M) last issued its quarterly earnings results on Tuesday, February 26th. The company reported $2.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.53 by $0.20. Macy’s had a net margin of 4.43% and a return on equity of 21.32%. The business had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.40 billion. During the same quarter in the prior year, the business posted $2.82 EPS. Macy’s’s revenue for the quarter was down 2.5% compared to the same quarter last year. Research analysts forecast that Macy’s Inc will post 3.11 EPS 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 dividend of $0.3775 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.51 dividend on an annualized basis and a yield of 6.48%. Macy’s’s payout ratio is 36.12%.

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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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