Macy’s, Inc. (NYSE:M) Holdings Raised by Covestor Ltd

Covestor Ltd increased its stake in Macy’s, Inc. (NYSE:M) by 75.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,214 shares of the company’s stock after purchasing an additional 3,091 shares during the quarter. Covestor Ltd’s holdings in Macy’s were worth $113,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of M. Russell Investments Group Ltd. lifted its holdings in shares of Macy’s by 44.9% in the first quarter. Russell Investments Group Ltd. now owns 516,834 shares of the company’s stock valued at $10,331,000 after purchasing an additional 160,093 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in Macy’s by 0.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock worth $2,839,000 after acquiring an additional 877 shares during the period. Virtu Financial LLC purchased a new position in Macy’s during the 1st quarter valued at about $1,043,000. WINTON GROUP Ltd increased its holdings in shares of Macy’s by 96.4% in the 2nd quarter. WINTON GROUP Ltd now owns 106,636 shares of the company’s stock valued at $2,047,000 after purchasing an additional 52,337 shares during the period. Finally, US Bancorp DE lifted its position in shares of Macy’s by 6.4% in the first quarter. US Bancorp DE now owns 21,669 shares of the company’s stock worth $433,000 after purchasing an additional 1,306 shares in the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analysts Set New Price Targets

M has been the topic of a number of research analyst reports. Argus raised shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Morgan Stanley dropped their price target on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. Telsey Advisory Group reissued a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research report on Wednesday, August 21st. StockNews.com began coverage on Macy’s in a research report on Sunday. They issued a “hold” rating on the stock. Finally, 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. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.43.

Macy’s Stock Performance

M opened at $15.08 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. The company has a market cap of $4.18 billion, a PE ratio of 23.56 and a beta of 2.11. The stock has a 50-day moving average of $15.36 and a 200-day moving average of $17.02. Macy’s, Inc. has a 52-week low of $10.59 and a 52-week high of $22.10.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.30 by $0.23. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The company had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter last year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, equities research analysts forecast that Macy’s, Inc. will post 2.72 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a $0.1737 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.61%. The ex-dividend date is Friday, December 13th. Macy’s’s dividend payout ratio is currently 107.81%.

About Macy’s

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.