OLD Mutual Customised Solutions Proprietary Ltd. Increases Stake in Macy’s Inc (NYSE:M)

OLD Mutual Customised Solutions Proprietary Ltd. increased its position in Macy’s Inc (NYSE:M) by 90.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,700 shares of the company’s stock after acquiring an additional 11,700 shares during the quarter. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Macy’s were worth $925,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Nissay Asset Management Corp Japan ADV grew its holdings in Macy’s by 4.9% during the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 28,887 shares of the company’s stock valued at $1,081,000 after buying an additional 1,337 shares in the last quarter. Whittier Trust Co. grew its holdings in Macy’s by 21.1% during the 2nd quarter. Whittier Trust Co. now owns 7,966 shares of the company’s stock valued at $462,000 after buying an additional 1,390 shares in the last quarter. Amalgamated Bank grew its holdings in Macy’s by 3.7% during the 2nd quarter. Amalgamated Bank now owns 39,333 shares of the company’s stock valued at $1,472,000 after buying an additional 1,402 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in Macy’s by 2.3% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 72,053 shares of the company’s stock valued at $2,697,000 after buying an additional 1,609 shares in the last quarter. Finally, Charter Trust Co. grew its holdings in Macy’s by 12.1% during the 2nd quarter. Charter Trust Co. now owns 15,106 shares of the company’s stock valued at $565,000 after buying an additional 1,630 shares in the last quarter. 90.30% of the stock is owned by institutional investors.

In related news, President Harry A. Lawton III sold 28,684 shares of the firm’s stock in a transaction 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 completion of the sale, the president now directly owns 54,722 shares in the company, valued at $1,972,728.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider C Elisa D. Garcia sold 4,628 shares of the firm’s stock in a transaction 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 sale, the insider now owns 10,727 shares of the company’s stock, valued at $384,562.95. The disclosure for this sale can be found here. 2.36% of the stock is owned by company insiders.

M has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Wednesday, July 18th. Deutsche Bank increased their price objective on shares of Macy’s from $33.00 to $35.00 and gave the company a “hold” rating in a report on Thursday, August 16th. Royal Bank of Canada set a $39.00 price objective on shares of Macy’s and gave the company a “hold” rating in a report on Thursday, August 16th. Standpoint Research lowered shares of Macy’s from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Finally, Cowen increased their price objective on shares of Macy’s from $35.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, August 16th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Macy’s presently has a consensus rating of “Hold” and an average price target of $33.35.

M stock opened at $33.18 on Tuesday. Macy’s Inc has a fifty-two week low of $17.41 and a fifty-two week high of $41.99. The company has a quick ratio of 0.43, a current ratio of 1.53 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $10.66 billion, a P/E ratio of 8.63, a price-to-earnings-growth ratio of 1.04 and a beta of 0.71.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, August 15th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.20. Macy’s had a net margin of 6.65% and a return on equity of 23.55%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same period last year, the firm posted $0.48 earnings per share. Macy’s’s revenue for the quarter was down 1.1% compared to the same quarter last year. Analysts predict that Macy’s Inc will post 3.93 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, September 14th were given a $0.3775 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $1.51 dividend on an annualized basis and a yield of 4.55%. Macy’s’s dividend payout ratio is presently 40.05%.

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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