Venturi Wealth Management LLC Boosts Stock Position in Macy’s, Inc. (NYSE:M)

Venturi Wealth Management LLC grew its holdings in shares of Macy’s, Inc. (NYSE:M) by 282.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,281 shares of the company’s stock after acquiring an additional 1,685 shares during the period. Venturi Wealth Management LLC’s holdings in Macy’s were worth $36,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in Macy’s by 9.8% in the second quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company’s stock valued at $297,385,000 after buying an additional 1,379,476 shares during the last quarter. LSV Asset Management increased its holdings in shares of Macy’s by 1.3% in the 2nd quarter. LSV Asset Management now owns 5,374,167 shares of the company’s stock valued at $103,184,000 after acquiring an additional 68,300 shares during the last quarter. American Century Companies Inc. raised its position in shares of Macy’s by 18.9% during the 2nd quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock valued at $90,333,000 after acquiring an additional 747,542 shares in the last quarter. Marshall Wace LLP lifted its stake in Macy’s by 1,539.5% during the second quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock worth $67,871,000 after purchasing an additional 3,319,337 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Macy’s by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 3,185,513 shares of the company’s stock worth $61,162,000 after purchasing an additional 37,254 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on M shares. Argus upgraded shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Morgan Stanley cut their target price on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. StockNews.com began coverage on Macy’s in a research note on Sunday, November 10th. They issued a “hold” rating for the company. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 price target on shares of Macy’s in a research report on Wednesday, August 21st. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.43.

Macy’s Price Performance

Shares of NYSE:M opened at $15.49 on Friday. The firm’s 50 day moving average is $15.39 and its two-hundred day moving average is $16.98. The firm has a market capitalization of $4.30 billion, a P/E ratio of 24.20 and a beta of 2.11. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. Macy’s, Inc. has a 52 week low of $13.10 and a 52 week high of $22.10.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share 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 firm had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter in the previous year, the business earned $0.26 EPS. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. Analysts anticipate that Macy’s, Inc. will post 2.72 earnings per share for the current year.

Macy’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a $0.1737 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a yield of 4.49%. Macy’s’s dividend payout ratio is presently 107.81%.

Macy’s 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.