Lind Value II ApS Makes New Investment in Macy's, Inc. (NYSE:M)

Lind Value II ApS acquired a new stake in Macy's, Inc. (NYSE:M - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 397,667 shares of the company's stock, valued at approximately $6,733,000. Macy's comprises about 3.0% of Lind Value II ApS's portfolio, making the stock its 7th biggest holding. Lind Value II ApS owned 0.14% of Macy's at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 purchasing an additional 118,626 shares in the last quarter. FMR LLC boosted its position in Macy's by 4.4% in the third quarter. FMR LLC now owns 4,691,591 shares of the company's stock valued at $73,611,000 after buying an additional 195,880 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Macy's during the third quarter worth $594,000. Alerus Financial NA acquired a new position in shares of Macy's in the third quarter valued at approximately $2,144,000. Finally, Retirement Systems of Alabama raised its stake in shares of Macy's by 57.9% during the third quarter. Retirement Systems of Alabama now owns 782,391 shares of the company's stock valued at $12,276,000 after acquiring an additional 286,879 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy's Stock Performance

Macy's stock traded down $0.21 during mid-day trading on Wednesday, reaching $13.81. 14,972,198 shares of the stock traded hands, compared to its average volume of 8,971,364. Macy's, Inc. has a 12-month low of $13.66 and a 12-month high of $22.10. The stock has a market capitalization of $3.83 billion, a PE ratio of 23.41 and a beta of 2.07. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.34. The business's 50-day moving average is $16.15 and its 200-day moving average is $16.09.

Macy's (NYSE:M - Get Free Report) last released its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). Macy's had a return on equity of 21.99% and a net margin of 0.73%. The firm had revenue of $4.74 billion during the quarter, compared to analysts' expectations of $4.74 billion. During the same period in the prior year, the company posted $0.21 earnings per share. The company's revenue was down 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that Macy's, Inc. will post 2.4 EPS for the current fiscal year.

Macy's Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were issued a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend was Friday, December 13th. Macy's's dividend payout ratio (DPR) is 116.95%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on M. JPMorgan Chase & Co. reduced their price objective on shares of Macy's from $21.00 to $20.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Gordon Haskett raised Macy's from a "hold" rating to a "buy" rating and set a $20.00 price target for the company in a research report on Monday, December 16th. Telsey Advisory Group reiterated a "market perform" rating and set a $17.00 target price on shares of Macy's in a research note on Tuesday. StockNews.com raised shares of Macy's from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, UBS Group dropped their price target on Macy's from $10.00 to $9.00 and set a "sell" rating on the stock in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $17.78.

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.