Parametrica Management Ltd Invests $207,000 in Macy’s, Inc. (NYSE:M)

Parametrica Management Ltd purchased a new stake in Macy’s, Inc. (NYSE:M) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 13,199 shares of the company’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Venturi Wealth Management LLC lifted its position in shares of Macy’s by 282.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after purchasing an additional 1,685 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Macy’s during the 3rd quarter worth $39,000. EntryPoint Capital LLC purchased a new stake in shares of Macy’s during the 1st quarter worth $51,000. Abich Financial Wealth Management LLC acquired a new stake in Macy’s during the 2nd quarter worth $57,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Macy’s during the 2nd quarter worth $62,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Macy’s Trading Up 1.4 %

Shares of NYSE:M traded up $0.21 during trading on Wednesday, reaching $15.29. The stock had a trading volume of 713,071 shares, compared to its average volume of 6,270,726. The business has a fifty day moving average price of $15.36 and a 200-day moving average price of $17.02. 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 stock has a market cap of $4.24 billion, a P/E ratio of 23.80 and a beta of 2.11. Macy’s, Inc. has a fifty-two week low of $10.99 and a fifty-two week high of $22.10.

Macy’s (NYSE:M) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share 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 business had revenue of $4.94 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the previous year, the business posted $0.26 earnings per share. The company’s revenue was down 3.8% on a year-over-year basis. As a group, analysts anticipate that Macy’s, Inc. will post 2.72 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend is Friday, December 13th. Macy’s’s dividend payout ratio (DPR) is 107.81%.

Analyst Ratings Changes

A number of research firms have commented on M. Morgan Stanley dropped their price objective 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. Evercore ISI dropped their price objective on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 16th. Telsey Advisory Group restated a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a research note on Wednesday, August 21st. Argus upgraded shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. Finally, StockNews.com initiated coverage on shares of Macy’s in a research note on Sunday. They issued a “hold” rating on the stock. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Macy’s currently has an average rating of “Hold” and a consensus price target 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.