Horizon Kinetics Asset Management LLC Takes Position in Macy’s, Inc. (NYSE:M)

Horizon Kinetics Asset Management LLC acquired a new position in Macy’s, Inc. (NYSE:M) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 30,500 shares of the company’s stock, valued at approximately $479,000.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in Macy’s by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock valued at $41,765,000 after buying an additional 118,626 shares in the last quarter. Banco Santander S.A. bought a new position in shares of Macy’s in the third quarter valued at approximately $159,000. Factorial Partners LLC boosted its holdings in shares of Macy’s by 36.0% in the third quarter. Factorial Partners LLC now owns 68,000 shares of the company’s stock valued at $1,067,000 after acquiring an additional 18,000 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Macy’s during the third quarter valued at approximately $35,000. Finally, Gladius Capital Management LP bought a new stake in Macy’s during the third quarter worth approximately $203,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Macy’s Price Performance

M opened at $15.93 on Tuesday. The firm has a market capitalization of $4.42 billion, a P/E ratio of 24.89 and a beta of 2.11. The stock has a fifty day moving average of $15.47 and a 200-day moving average of $16.79. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. Macy’s, Inc. has a 12-month low of $14.06 and a 12-month high of $22.10.

Macy’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.1737 per share. 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 4.36%. Macy’s’s payout ratio is presently 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.