The Vanguard Group, Inc. recently announced the acquisition of new stake in Macy’s Inc (NYSE:M). The institutional investor has increased its shareholding in the Consumer Cyclical company by 7.91% to 35.92 million shares with purchase of 2.63 million shares. This fresh investment now brings its stake to 13.11% valued currently at $722.65 million. In addition, BlackRock Fund Advisors raised its holdings by 0.68 million to 22.53 million shares. And SSgA Funds Management, Inc. has lifted its position by 0.93% or 0.1 million shares – to 11.35 million shares.
Currently, there are 274.07M common shares owned by the public and among those 272.36M shares have been available to trade.
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Insiders at the company have transacted a total of 54 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 26 of these insider trades were purchases, accounting for 1,633,413 shares. Insider sales of the common stock occurred on 28 occasions, with total insider shares sold totaling 868,582 shares.
The top 3 mutual fund holders in Macy’s Inc are Vanguard Total Stock Market ETF, iShares Core S&P Mid Cap ETF, and Vanguard Equity Income Fund. Vanguard Total Stock Market ETF owns 8.59 million shares of the company’s stock, all valued at over $172.8 million. The company bought an additional 7802.0 shares recently to bring their total holdings to about 3.13% of the shares outstanding. iShares Core S&P Mid Cap ETF bought 7520.0 shares to see its total holdings expand to 8.31 million shares valued at over $167.28 million and representing 3.03% of the shares outstanding. Vanguard Equity Income Fund bought 2.57 million shares to bring its total holdings to over 7.54 million shares at a value of $151.78 million. Vanguard Equity Income Fund now owns shares totaling to 2.75% of the shares outstanding.
However, the script later moved the day high at 19.10, up 0.43%. The company’s stock has a 5-day price change of 7.20% and 63.35% over the past three months. M shares are trading -6.06% year to date (YTD), with the 12-month market performance down to -19.16% lower. It has a 12-month low price of $10.54 and touched a high of $25.12 over the same period. M has an average intraday trading volume of 13.27 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.49%, 7.26%, and 25.65% respectively.
Institutional ownership of Macy’s Inc (NYSE: M) shares accounts for 81.57% of the company’s 274.07M shares outstanding. Mutual fund holders own 38.50%, while other institutional holders and individual stakeholders account for 43.50% and 1.46% respectively.
It has a market capitalization of $5.18B and a beta (3y monthly) value of 2.18. The stock’s trailing 12-month PE ratio is 7.69, while the earnings-per-share (ttm) stands at $2.46. The company has a PEG of 0.64 and a Quick Ratio of 0.17 with the debt-to-equity ratio at 1.49. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.31% over the week and 2.91% over the month.
Analysts forecast that Macy’s Inc (M) will achieve an EPS of $Microsoft Corporation for the current quarter, $403.93 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Tema Neuroscience and Mental He while analysts give the company a high EPS estimate of $Autonomix Medical, Inc. Common . Comparatively, EPS for the current quarter was $WisdomTree U.S. MidCap Quality a year ago. Earnings per share for the fiscal year are expected to decrease by -32.21%, and -9.77% over the next financial year. EPS should grow at an annualized rate of 12.00% over the next five years, compared to -3.88% over the past 5-year period.
Looking at the support for the M, a number of firms have released research notes about the stock. Citigroup stated their Sell rating for the stock in a research note on December 12, 2023, with the firm’s price target at $14.
