Macy’s, Inc. (NYSE:M) Shares Bought by Royce & Associates LP

Royce & Associates LP grew its stake in shares of Macy’s, Inc. (NYSE:M) by 5.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,420,000 shares of the company’s stock after acquiring an additional 70,000 shares during the quarter. Royce & Associates LP owned about 0.51% of Macy’s worth $22,280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Venturi Wealth Management LLC increased its position in 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 in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Macy’s during the 3rd quarter worth approximately $39,000. EntryPoint Capital LLC acquired a new stake in Macy’s during the 1st quarter worth approximately $51,000. Abich Financial Wealth Management LLC acquired a new stake in Macy’s during the 2nd quarter worth approximately $57,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Macy’s during the 2nd quarter worth approximately $62,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analysts Set New Price Targets

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

Macy’s Stock Performance

M stock opened at $15.49 on Friday. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. The firm has a market cap of $4.30 billion, a P/E ratio of 24.20 and a beta of 2.11. Macy’s, Inc. has a 12-month low of $13.10 and a 12-month high of $22.10. The stock’s 50 day simple moving average is $15.39 and its 200 day simple moving average is $16.98.

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

Macy’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.1737 dividend. This represents a $0.69 annualized dividend and a yield of 4.49%. The ex-dividend date is Friday, December 13th. 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.