Macy's, Inc. (NYSE:M) Stake Lifted by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in Macy's, Inc. (NYSE:M - Free Report) by 2.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,023,790 shares of the company's stock after acquiring an additional 128,258 shares during the quarter. Geode Capital Management LLC owned 1.81% of Macy's worth $79,110,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in M. Charles Schwab Investment Management Inc. boosted its stake in shares of Macy's by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company's stock worth $41,765,000 after acquiring an additional 118,626 shares in the last quarter. FMR LLC boosted its position in Macy's by 4.4% during the third quarter. FMR LLC now owns 4,691,591 shares of the company's stock worth $73,611,000 after purchasing an additional 195,880 shares in the last quarter. Alerus Financial NA purchased a new stake in Macy's during the third quarter worth $2,144,000. WINTON GROUP Ltd grew its holdings in Macy's by 96.4% in the second quarter. WINTON GROUP Ltd now owns 106,636 shares of the company's stock valued at $2,047,000 after purchasing an additional 52,337 shares during the last quarter. Finally, Royce & Associates LP increased its position in shares of Macy's by 5.2% in the third quarter. Royce & Associates LP now owns 1,420,000 shares of the company's stock valued at $22,280,000 after buying an additional 70,000 shares in the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Macy's Trading Up 2.5 %

M stock traded up $0.39 during midday trading on Friday, reaching $16.24. 10,417,961 shares of the company's stock traded hands, compared to its average volume of 6,431,706. Macy's, Inc. has a fifty-two week low of $14.06 and a fifty-two week high of $22.10. The business has a 50-day moving average price of $15.87 and a two-hundred day moving average price of $16.39. The company has a market capitalization of $4.51 billion, a P/E ratio of 27.53 and a beta of 2.10. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.34.

Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.03). Macy's had a return on equity of 21.99% and a net margin of 0.73%. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the firm earned $0.21 EPS. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. Equities research analysts forecast that Macy's, Inc. will post 2.38 EPS for the current fiscal year.

Macy's Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued 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 4.28%. Macy's's dividend payout ratio is currently 116.95%.

Wall Street Analyst Weigh In

Several analysts have recently commented on M shares. Guggenheim reiterated a "neutral" rating on shares of Macy's in a research report on Thursday, December 12th. StockNews.com cut Macy's from a "buy" rating to a "hold" rating in a report on Friday, December 13th. Morgan Stanley cut their price target on Macy's from $17.00 to $16.00 and set an "equal weight" rating for the company in a report on Thursday, December 12th. Gordon Haskett raised Macy's from a "hold" rating to a "buy" rating and set a $20.00 price objective on the stock in a research note on Monday, December 16th. Finally, Telsey Advisory Group reissued a "market perform" rating and issued a $17.00 target price on shares of Macy's in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $18.56.

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.