46,552 Shares in Macy's, Inc. (NYSE:M) Purchased by PVG Asset Management Corp

PVG Asset Management Corp purchased a new stake in Macy's, Inc. (NYSE:M - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 46,552 shares of the company's stock, valued at approximately $730,000. Macy's accounts for approximately 2.9% of PVG Asset Management Corp's portfolio, making the stock its 9th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC raised its position in shares of Macy's by 7.7% during the second quarter. CWM LLC now owns 8,398 shares of the company's stock worth $161,000 after acquiring an additional 598 shares during the last quarter. Wedmont Private Capital lifted its position in shares of Macy's by 6.1% in the 2nd quarter. Wedmont Private Capital now owns 14,403 shares of the company's stock worth $275,000 after purchasing an additional 833 shares during the period. Clear Harbor Asset Management LLC boosted its stake in shares of Macy's by 22.3% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 12,600 shares of the company's stock valued at $242,000 after purchasing an additional 2,300 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Macy's by 589.6% during the second quarter. Nisa Investment Advisors LLC now owns 33,240 shares of the company's stock worth $645,000 after buying an additional 28,420 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in Macy's in the second quarter valued at $541,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy's Stock Down 1.7 %

Shares of Macy's stock traded down $0.28 during trading hours on Thursday, reaching $16.30. The company's stock had a trading volume of 9,697,782 shares, compared to its average volume of 6,397,192. The company has a market capitalization of $4.52 billion, a P/E ratio of 25.41 and a beta of 2.10. The stock's fifty day simple moving average is $15.76 and its two-hundred day simple moving average is $16.53. Macy's, Inc. has a one year low of $14.06 and a one year high of $22.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48.

Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.74 billion. Macy's had a net margin of 0.80% and a return on equity of 23.14%. Macy's's revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.21 EPS. On average, research analysts forecast that Macy's, Inc. will post 2.74 earnings per share for the current 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 issued a dividend of $0.1737 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 annualized dividend and a yield of 4.26%. Macy's's dividend payout ratio (DPR) is currently 107.81%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on M. Argus upgraded Macy's to a "hold" rating in a report on Thursday, October 10th. StockNews.com upgraded Macy's from a "hold" rating to a "buy" rating in a report on Wednesday, November 27th. UBS Group cut their price target on Macy's from $10.00 to $9.00 and set a "sell" rating on the stock in a report on Thursday. Guggenheim reiterated a "neutral" rating on shares of Macy's in a research note on Thursday. Finally, Telsey Advisory Group reissued a "market perform" rating and set a $17.00 target price on shares of Macy's in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Macy's currently has an average rating of "Hold" and an average target price of $18.38.

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.