Macy's Sees Unusually Large Options Volume (NYSE:M)

Macy's, Inc. (NYSE:M - Get Free Report) was the recipient of some unusual options trading on Wednesday. Stock traders purchased 29,879 call options on the stock. This is an increase of approximately 70% compared to the typical daily volume of 17,585 call options.

Macy's Price Performance

M traded up $0.62 during trading on Wednesday, hitting $16.26. 5,587,953 shares of the stock traded hands, compared to its average volume of 6,441,644. Macy's has a twelve month low of $10.59 and a twelve month high of $22.10. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 537.33 and a beta of 2.11. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34. The business has a 50 day moving average price of $15.50 and a 200 day moving average price of $17.50.

Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.23. The company had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $5.06 billion. Macy's had a net margin of 0.80% and a return on equity of 23.14%. The company's revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 earnings per share. Equities research analysts forecast that Macy's will post 2.72 earnings per share for the current fiscal year.

Macy's Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $0.1737 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.69 dividend on an annualized basis and a yield of 4.27%. Macy's's payout ratio is 2,300.00%.

Institutional Trading of Macy's

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Riverview Trust Co bought a new stake in Macy's during the first quarter valued at $27,000. Future Financial Wealth Managment LLC bought a new stake in Macy's during the third quarter valued at $39,000. Fidelis Capital Partners LLC bought a new stake in Macy's during the first quarter valued at $42,000. EntryPoint Capital LLC bought a new stake in Macy's during the first quarter valued at $51,000. Finally, Abich Financial Wealth Management LLC bought a new stake in Macy's during the second quarter valued at $57,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

M has been the topic of a number of recent research reports. StockNews.com initiated coverage on Macy's in a research report on Wednesday, October 9th. They issued a "hold" rating on the stock. Argus upgraded Macy's to a "hold" rating in a report on Thursday, October 10th. Telsey Advisory Group reiterated a "market perform" rating and set a $21.00 price target on shares of Macy's in a report on Wednesday, August 21st. Evercore ISI reduced their price target on Macy's from $22.00 to $17.00 and set an "in-line" rating for the company in a report on Tuesday, July 16th. Finally, Morgan Stanley reduced their price target on Macy's from $18.00 to $17.00 and set an "equal weight" rating for the company in a report on Thursday, August 22nd. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Macy's currently has a consensus rating of "Hold" and a consensus target price of $20.43.

Macy's Company 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.