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

Macy's, Inc. (NYSE:M - Get Free Report) was the target of some unusual options trading activity on Friday. Stock traders acquired 20,773 call options on the company. This represents an increase of 24% compared to the average volume of 16,715 call options.

Macy's Stock Performance

Shares of NYSE:M traded up $1.23 during trading on Friday, hitting $16.30. 10,894,895 shares of the stock traded hands, compared to its average volume of 5,068,864. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 25.47 and a beta of 2.11. The company has a fifty day moving average price of $15.45 and a two-hundred day moving average price of $16.83. Macy's has a 52-week low of $14.06 and a 52-week high of $22.10.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.94 billion for the quarter, compared to analysts' expectations of $5.06 billion. During the same quarter last year, the company earned $0.26 EPS. The firm's revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, equities analysts predict that Macy's will post 2.7 EPS for the current year.

Macy's Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.1737 per share. The ex-dividend date is Friday, December 13th. This represents a $0.69 annualized dividend and a yield of 4.26%. Macy's's dividend payout ratio (DPR) is presently 107.81%.

Analyst Upgrades and Downgrades

M has been the subject of several research analyst reports. Argus raised shares of Macy's to a "hold" rating in a research report on Thursday, October 10th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $21.00 price objective on shares of Macy's in a research report on Wednesday, August 21st. Morgan Stanley decreased their price objective on shares of Macy's from $18.00 to $17.00 and set an "equal weight" rating for the company in a research report on Thursday, August 22nd. Finally, StockNews.com initiated coverage on shares of Macy's in a research report on Sunday, November 10th. They issued a "hold" rating for the company. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $20.43.

Institutional Investors Weigh In On Macy's

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC acquired a new stake in Macy's during the 3rd quarter worth $35,000. Venturi Wealth Management LLC grew its holdings in shares of Macy's by 282.7% in the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company's stock valued at $36,000 after purchasing an additional 1,685 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in shares of Macy's in the third quarter valued at about $39,000. EntryPoint Capital LLC purchased a new stake in shares of Macy's in the first quarter valued at about $51,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of Macy's in the second quarter valued at about $57,000. Institutional investors and hedge funds own 87.36% of the company's stock.

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.