Northern Trust Corp Has $34.52 Million Stock Holdings in Macy’s, Inc. (NYSE:M)
Northern Trust Corp decreased its holdings in shares of Macy’s, Inc. (NYSE:M – Free Report) by 16.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,150,645 shares of the company’s stock after selling 438,020 shares during the quarter. Northern Trust Corp owned approximately 0.79% of Macy’s worth $34,518,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the business. Gabelli Funds LLC lifted its holdings in shares of Macy’s by 0.4% during the first quarter. Gabelli Funds LLC now owns 129,000 shares of the company’s stock worth $3,142,000 after buying an additional 500 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Macy’s by 1.8% during the first quarter. Vontobel Holding Ltd. now owns 35,384 shares of the company’s stock worth $862,000 after buying an additional 640 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Macy’s by 1.6% during the second quarter. Truist Financial Corp now owns 41,575 shares of the company’s stock worth $667,000 after buying an additional 649 shares in the last quarter. CWM LLC lifted its holdings in shares of Macy’s by 53.8% during the second quarter. CWM LLC now owns 1,952 shares of the company’s stock worth $31,000 after buying an additional 683 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in shares of Macy’s by 52.3% during the first quarter. Lazard Asset Management LLC now owns 1,995 shares of the company’s stock worth $48,000 after buying an additional 685 shares in the last quarter. Institutional investors and hedge funds own 82.69% of the company’s stock.
Insider Transactions at Macy’s
In other news, CFO Adrian V. Mitchell sold 57,214 shares of the business’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $14.63, for a total transaction of $837,040.82. Following the sale, the chief financial officer now directly owns 78,386 shares in the company, valued at $1,146,787.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.52% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. Telsey Advisory Group boosted their price target on Macy’s from $14.00 to $15.00 and gave the company a “market perform” rating in a research note on Friday, November 17th. Bank of America dropped their price target on Macy’s from $13.00 to $12.00 and set an “underperform” rating for the company in a research note on Wednesday, August 23rd. JPMorgan Chase & Co. boosted their price target on Macy’s from $16.00 to $19.00 and gave the company an “overweight” rating in a research note on Friday, November 17th. The Goldman Sachs Group dropped their price target on Macy’s from $23.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, August 23rd. Finally, Citigroup dropped their price target on Macy’s from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, August 23rd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.00.
Get Our Latest Research Report on Macy’s
Macy’s Stock Performance
Macy’s stock opened at $16.47 on Wednesday. Macy’s, Inc. has a 12-month low of $10.54 and a 12-month high of $25.12. The company has a quick ratio of 0.17, a current ratio of 1.18 and a debt-to-equity ratio of 0.72. The business’s 50-day moving average price is $12.60 and its two-hundred day moving average price is $13.85. The stock has a market cap of $4.51 billion, a PE ratio of 6.70, a P/E/G ratio of 0.47 and a beta of 1.97.
Macy’s (NYSE:M – Get Free Report) last released its earnings results on Thursday, November 16th. The company reported $0.21 earnings per share (EPS) for the quarter. The firm had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Macy’s had a return on equity of 19.53% and a net margin of 2.92%. The business’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 earnings per share. As a group, analysts expect that Macy’s, Inc. will post 3.01 earnings per share for the current fiscal year.
Macy’s Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a dividend of $0.1654 per share. This represents a $0.66 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Thursday, December 14th. Macy’s’s dividend payout ratio (DPR) is currently 26.83%.
About Macy’s (Free Report)
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.
See Also
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Original: MarketBeat News Feed: Northern Trust Corp Has $34.52 Million Stock Holdings in Macy’s, Inc. (NYSE:M)