Royce & Associates LP Acquires 70,000 Shares of Macy's, Inc. (NYSE:M)

Royce & Associates LP grew its position in Macy's, Inc. (NYSE:M - Free Report) by 5.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,420,000 shares of the company's stock after purchasing an additional 70,000 shares during the period. Royce & Associates LP owned about 0.51% of Macy's worth $22,280,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Macy's by 9.8% in the second quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company's stock worth $297,385,000 after purchasing an additional 1,379,476 shares in the last quarter. LSV Asset Management increased its position in Macy's by 1.3% in the 2nd quarter. LSV Asset Management now owns 5,374,167 shares of the company's stock valued at $103,184,000 after acquiring an additional 68,300 shares in the last quarter. American Century Companies Inc. increased its position in Macy's by 18.9% in the 2nd quarter. American Century Companies Inc. now owns 4,704,854 shares of the company's stock valued at $90,333,000 after acquiring an additional 747,542 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Macy's by 1,539.5% in the second quarter. Marshall Wace LLP now owns 3,534,952 shares of the company's stock worth $67,871,000 after acquiring an additional 3,319,337 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Macy's by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 3,185,513 shares of the company's stock worth $61,162,000 after purchasing an additional 37,254 shares in the last quarter. Institutional investors own 87.36% of the company's stock.

Wall Street Analysts Forecast Growth

M has been the topic of several research reports. Morgan Stanley cut their price target on Macy's from $18.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 22nd. Argus raised shares of Macy's to a "hold" rating in a research note on Thursday, October 10th. Telsey Advisory Group reissued a "market perform" rating and set a $21.00 price target on shares of Macy's in a research note on Wednesday, August 21st. Finally, StockNews.com began coverage on shares of Macy's in a research note on Sunday, November 10th. They issued a "hold" rating on the stock. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $20.43.

Macy's Stock Down 0.5 %

NYSE M traded down $0.08 on Friday, reaching $15.49. The company had a trading volume of 3,779,108 shares, compared to its average volume of 6,269,225. The company's fifty day moving average is $15.39 and its 200-day moving average is $16.98. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 24.20 and a beta of 2.11. 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, Inc. has a 1-year low of $13.10 and a 1-year high of $22.10.

Macy's (NYSE:M - Get Free Report) last released its earnings results on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.30 by $0.23. The firm had revenue of $4.94 billion for the quarter, compared to analysts' expectations of $5.06 billion. Macy's had a return on equity of 23.14% and a net margin of 0.80%. The business's quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 EPS. On average, research analysts forecast that Macy's, Inc. will post 2.72 earnings per share for the current fiscal year.

Macy's Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid 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 4.49%. Macy's's dividend payout ratio is 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.