Eaton Vance Management increased its stake in Macy’s, Inc. (NYSE:M – Get Rating) by 10.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 116,396 shares of the company’s stock after purchasing an additional 11,014 shares during the period. Eaton Vance Management’s holdings in Macy’s were worth $1,824,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its position in shares of Macy’s by 224.5% in the second quarter. Renaissance Technologies LLC now owns 12,320,464 shares of the company’s stock worth $225,711,000 after purchasing an additional 8,523,700 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Macy’s by 137.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 5,085,398 shares of the company’s stock worth $79,688,000 after buying an additional 2,943,484 shares during the last quarter. Natixis boosted its stake in shares of Macy’s by 369.4% during the 2nd quarter. Natixis now owns 2,751,766 shares of the company’s stock worth $50,614,000 after buying an additional 2,165,543 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Macy’s by 27.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,106,073 shares of the company’s stock worth $246,184,000 after buying an additional 2,155,936 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Macy’s by 25.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,904,227 shares of the company’s stock worth $155,205,000 after buying an additional 2,040,551 shares during the last quarter. Institutional investors own 80.19% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on M shares. Telsey Advisory Group restated a “market perform” rating and set a $25.00 price objective on shares of Macy’s in a research note on Friday. Deutsche Bank Aktiengesellschaft cut their target price on shares of Macy’s from $23.00 to $22.00 in a research note on Tuesday, January 10th. The Goldman Sachs Group assumed coverage on shares of Macy’s in a research note on Monday, January 30th. They issued a “buy” rating and a $28.00 target price for the company. Citigroup raised their target price on shares of Macy’s from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, February 23rd. Finally, OTR Global upgraded shares of Macy’s from a “mixed” rating to a “positive” rating in a research note on Wednesday, November 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $24.27.
Macy’s Trading Down 0.2 %
Macy’s (NYSE:M – Get Rating) last issued its quarterly earnings data on Thursday, March 2nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.31. Macy’s had a net margin of 4.82% and a return on equity of 35.06%. The firm had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period last year, the business posted $2.45 earnings per share. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, analysts predict that Macy’s, Inc. will post 3.78 earnings per share for the current year.
Macy’s Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Wednesday, March 15th will be issued a dividend of $0.1654 per share. The ex-dividend date is Tuesday, March 14th. This is a boost from Macy’s’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a dividend yield of 2.92%. Macy’s’s dividend payout ratio (DPR) is currently 15.04%.
Macy’s Company Profile
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.
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