MidWestOne Financial Group Inc. Has $1.86 Million Holdings in Macy's, Inc. (NYSE:M)

MidWestOne Financial Group Inc. raised its stake in shares of Macy's, Inc. (NYSE:M - Free Report) by 45.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 118,479 shares of the company's stock after purchasing an additional 37,218 shares during the quarter. MidWestOne Financial Group Inc.'s holdings in Macy's were worth $1,859,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. MML Investors Services LLC bought a new position in Macy's during the 3rd quarter valued at about $193,000. XTX Topco Ltd acquired a new stake in shares of Macy's during the third quarter worth approximately $503,000. Quarry LP bought a new position in shares of Macy's in the third quarter valued at approximately $117,000. Point72 DIFC Ltd bought a new position in shares of Macy's in the third quarter valued at approximately $3,032,000. Finally, Invenomic Capital Management LP boosted its holdings in shares of Macy's by 32.3% in the 3rd quarter. Invenomic Capital Management LP now owns 795,687 shares of the company's stock worth $12,484,000 after acquiring an additional 194,443 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on M shares. Morgan Stanley reduced their price objective 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. StockNews.com upgraded shares of Macy's from a "hold" rating to a "buy" rating in a research report on Wednesday, November 27th. Argus raised shares of Macy's to a "hold" rating in a research note on Thursday, October 10th. Finally, Telsey Advisory Group reissued a "market perform" rating and set a $17.00 price target on shares of Macy's in a research note on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $19.86.

Macy's Trading Up 0.5 %

M traded up $0.08 during midday trading on Tuesday, reaching $16.80. 6,278,794 shares of the company were exchanged, compared to its average volume of 6,277,708. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. The stock has a market capitalization of $4.66 billion, a P/E ratio of 25.89 and a beta of 2.11. The stock's 50-day simple moving average is $15.70 and its 200 day simple moving average is $16.56. Macy's, Inc. has a one year low of $14.06 and a one year high of $22.10.

Macy's Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.1737 per share. The ex-dividend date is Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.14%. 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.