Exxonmobil Investment Management Inc. TX Sells 1,065 Shares of Macy’s Inc. (M)
Exxonmobil Investment Management Inc. TX reduced its position in shares of Macy’s Inc. (NYSE:M) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 78,763 shares of the company’s stock after selling 1,065 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Macy’s were worth $2,918,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Washington Trust Bank increased its stake in shares of Macy’s by 11.2% in the third quarter. Washington Trust Bank now owns 2,947 shares of the company’s stock worth $109,000 after buying an additional 297 shares in the last quarter. Americafirst Capital Management LLC bought a new position in shares of Macy’s during the second quarter valued at about $133,000. Advisory Services Network LLC boosted its position in shares of Macy’s by 13.3% in the second quarter. Advisory Services Network LLC now owns 4,800 shares of the company’s stock valued at $161,000 after buying an additional 565 shares during the last quarter. First Manhattan Co. boosted its position in shares of Macy’s by 56.7% in the second quarter. First Manhattan Co. now owns 4,966 shares of the company’s stock valued at $166,000 after buying an additional 1,796 shares during the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of Macy’s by 39.2% in the second quarter. Private Advisor Group LLC now owns 5,971 shares of the company’s stock valued at $201,000 after buying an additional 1,683 shares during the last quarter. 85.30% of the stock is currently owned by institutional investors.
Macy’s Inc. (NYSE:M) traded down 0.68% during trading on Wednesday, reaching $42.20. 6,986,774 shares of the company’s stock traded hands. The company has a 50-day moving average of $38.94 and a 200 day moving average of $36.08. The stock has a market capitalization of $12.90 billion, a P/E ratio of 19.21 and a beta of 0.77. Macy’s Inc. has a 12 month low of $29.94 and a 12 month high of $45.50.
Macy’s (NYSE:M) last posted its earnings results on Thursday, November 10th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by $0.24. Macy’s had a net margin of 2.63% and a return on equity of 24.83%. The firm earned $5.63 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the prior year, the firm earned $0.56 earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities research analysts expect that Macy’s Inc. will post $3.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Thursday, December 15th will be paid a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Tuesday, December 13th. Macy’s’s dividend payout ratio is currently 69.27%.
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Several research analysts have recently issued reports on the stock. BMO Capital Markets restated an “outperform” rating and issued a $45.00 target price (down previously from $51.00) on shares of Macy’s in a report on Wednesday. Vetr upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $46.08 target price for the company in a report on Wednesday. Jefferies Group restated a “hold” rating and issued a $40.00 target price on shares of Macy’s in a report on Friday, November 11th. Zacks Investment Research upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Wednesday, November 2nd. Finally, OTR Global upgraded shares of Macy’s from a “negative” rating to a “mixed” rating in a report on Wednesday, November 2nd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $42.92.
In related news, Director Craig Weatherup sold 20,000 shares of the business’s stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $42.00, for a total value of $840,000.00. Following the completion of the transaction, the director now directly owns 16,000 shares in the company, valued at approximately $672,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.70% of the stock is currently owned by corporate insiders.
Macy’s Company Profile
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
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