Stock Traders Buy Large Volume of Macy’s Call Options (NYSE:M)

Macy’s, Inc. (NYSE:M) was the target of some unusual options trading on Tuesday. Investors purchased 35,478 call options on the stock. This is an increase of approximately 142% compared to the average volume of 14,652 call options.

Macy’s Trading Down 0.9%

NYSE M opened at $16.93 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.25 and a quick ratio of 0.18. The stock has a market capitalization of $4.50 billion, a P/E ratio of 10.02 and a beta of 1.51. The firm’s 50-day moving average is $20.56 and its two-hundred day moving average is $20.05. Macy’s has a 12 month low of $9.76 and a 12 month high of $24.41.

Macy’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be paid a dividend of $0.1915 per share. This represents a $0.77 dividend on an annualized basis and a yield of 4.5%. This is a positive change from Macy’s’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, March 13th. Macy’s’s payout ratio is currently 45.56%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Strengthening Families & Communities LLC purchased a new stake in shares of Macy’s in the 4th quarter valued at $28,000. V Square Quantitative Management LLC purchased a new position in Macy’s during the 4th quarter valued at about $29,000. Smartleaf Asset Management LLC boosted its holdings in Macy’s by 51.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company’s stock valued at $34,000 after acquiring an additional 526 shares during the period. Cullen Frost Bankers Inc. acquired a new position in Macy’s in the 3rd quarter valued at about $31,000. Finally, CIBC Private Wealth Group LLC grew its position in Macy’s by 35.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,838 shares of the company’s stock valued at $41,000 after acquiring an additional 486 shares in the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on M. Guggenheim started coverage on shares of Macy’s in a research report on Tuesday, December 9th. They set a “neutral” rating for the company. Citigroup reaffirmed a “neutral” rating on shares of Macy’s in a research report on Wednesday, February 18th. UBS Group upped their price objective on shares of Macy’s from $8.00 to $9.00 and gave the company a “sell” rating in a report on Monday, March 9th. Jefferies Financial Group assumed coverage on Macy’s in a research note on Wednesday, January 14th. They issued a “buy” rating and a $27.00 target price on the stock. Finally, Wall Street Zen raised shares of Macy’s from a “buy” rating to a “strong-buy” rating in a report on Sunday. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $20.00.

About Macy’s

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.