Macy’s Target of Unusually High Options Trading (M)

Macy’s Inc (NYSE:M) was the recipient of unusually large options trading on Thursday. Traders acquired 36,174 put options on the stock. This is an increase of 876% compared to the typical volume of 3,707 put options.

A number of analysts recently commented on the company. TheStreet lowered Macy’s from a “b-” rating to a “c+” rating in a research report on Tuesday, February 5th. Bank of America lowered Macy’s from a “neutral” rating to an “underperform” rating in a research report on Thursday, January 10th. ValuEngine lowered Macy’s from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 22nd. OTR Global lowered Macy’s to a “positive” rating in a research report on Wednesday, February 6th. Finally, Gordon Haskett lowered Macy’s from a “buy” rating to a “hold” rating in a research report on Thursday, January 10th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. Macy’s has a consensus rating of “Hold” and an average price target of $33.26.

M stock opened at $24.45 on Friday. The stock has a market cap of $7.69 billion, a price-to-earnings ratio of 6.49, a P/E/G ratio of 0.90 and a beta of 0.50. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.35 and a quick ratio of 0.24. Macy’s has a 52-week low of $24.05 and a 52-week high of $41.99.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc lifted its stake in Macy’s by 6.5% in the third quarter. Vanguard Group Inc now owns 35,205,128 shares of the company’s stock valued at $1,222,675,000 after purchasing an additional 2,133,597 shares during the last quarter. Martingale Asset Management L P purchased a new position in Macy’s in the third quarter valued at approximately $2,806,000. Ffcm LLC lifted its stake in Macy’s by 224.4% in the third quarter. Ffcm LLC now owns 45,795 shares of the company’s stock valued at $1,605,000 after purchasing an additional 31,678 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Macy’s by 4.6% in the third quarter. Canada Pension Plan Investment Board now owns 221,808 shares of the company’s stock valued at $7,703,000 after purchasing an additional 9,813 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in Macy’s by 23.7% in the fourth quarter. Empowered Funds LLC now owns 109,371 shares of the company’s stock valued at $3,257,000 after purchasing an additional 20,979 shares during the last quarter. Institutional investors and hedge funds own 90.65% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Macy’s Target of Unusually High Options Trading (M)” was first posted by Markets Daily and is owned by of Markets Daily. If you are viewing this article on another website, it was copied illegally and reposted in violation of United States and international copyright laws. The correct version of this article can be accessed at https://www.themarketsdaily.com/2019/02/22/macys-target-of-unusually-high-options-trading-m.html.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.

See Also: Fundamental Analysis

Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply