Macy’s, Inc. (NYSE:M) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Macy’s, Inc. (NYSE:M) by 3.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58,968 shares of the company’s stock after purchasing an additional 2,227 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Macy’s were worth $1,132,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in M. Dimensional Fund Advisors LP boosted its holdings in shares of Macy’s by 15.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,398,149 shares of the company’s stock worth $249,456,000 after purchasing an additional 1,685,986 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Macy’s by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 3,185,513 shares of the company’s stock worth $61,162,000 after buying an additional 37,254 shares during the last quarter. Norges Bank purchased a new stake in Macy’s in the 4th quarter valued at $62,529,000. Charles Schwab Investment Management Inc. increased its stake in shares of Macy’s by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,371,257 shares of the company’s stock worth $47,710,000 after acquiring an additional 13,712 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Macy’s by 20.0% in the 4th quarter. First Trust Advisors LP now owns 1,996,632 shares of the company’s stock worth $40,172,000 after acquiring an additional 332,465 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Insider Transactions at Macy’s

In other Macy’s news, EVP Danielle L. Kirgan sold 24,147 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $457,827.12. Following the sale, the executive vice president now owns 348,000 shares of the company’s stock, valued at approximately $6,598,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Antony Spring sold 18,981 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $359,879.76. Following the transaction, the chief executive officer now owns 267,265 shares of the company’s stock, valued at $5,067,344.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Danielle L. Kirgan sold 24,147 shares of Macy’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $457,827.12. Following the sale, the executive vice president now directly owns 348,000 shares of the company’s stock, valued at $6,598,080. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,464 shares of company stock valued at $824,081. 2.77% of the stock is currently owned by company insiders.

Macy’s Trading Down 0.5 %

Shares of NYSE M opened at $15.49 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $4.28 billion, a PE ratio of 516.33 and a beta of 2.18. Macy’s, Inc. has a twelve month low of $10.54 and a twelve month high of $22.10. The stock has a fifty day simple moving average of $16.90 and a 200-day simple moving average of $18.52.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.23. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The company had revenue of $4.94 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period in the prior year, the firm earned $0.26 earnings per share. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, equities analysts forecast that Macy’s, Inc. will post 2.73 earnings per share for the current year.

Macy’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.1737 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.49%. Macy’s’s dividend payout ratio (DPR) is 2,300.00%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on M. Evercore ISI dropped their price objective on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a report on Tuesday, July 16th. TD Cowen raised their price target on shares of Macy’s from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, May 22nd. StockNews.com initiated coverage on Macy’s in a report on Friday, August 30th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. raised their target price on Macy’s from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 22nd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $21.00 price target on shares of Macy’s in a research note on Wednesday, August 21st. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Macy’s currently has a consensus rating of “Hold” and a consensus target price of $19.50.

Macy’s Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.