Assenagon Asset Management S.A. Takes $1.41 Million Position in Macy's, Inc. (NYSE:M)

Assenagon Asset Management S.A. bought a new stake in shares of Macy's, Inc. (NYSE:M - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 89,700 shares of the company's stock, valued at approximately $1,407,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Future Financial Wealth Managment LLC bought a new position in Macy's in the third quarter worth $39,000. Fidelis Capital Partners LLC bought a new position in shares of Macy's in the 1st quarter worth about $42,000. EntryPoint Capital LLC purchased a new position in Macy's during the 1st quarter valued at about $51,000. Abich Financial Wealth Management LLC bought a new stake in Macy's during the second quarter worth about $57,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Macy's in the second quarter worth about $62,000. Hedge funds and other institutional investors own 87.36% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on M. Morgan Stanley lowered their target price on shares of Macy's from $18.00 to $17.00 and set an "equal weight" rating for the company in a report on Thursday, August 22nd. Telsey Advisory Group reissued a "market perform" rating and issued a $21.00 target price on shares of Macy's in a research note on Wednesday, August 21st. StockNews.com initiated coverage on Macy's in a report on Saturday. They set a "hold" rating for the company. Evercore ISI dropped their price target on shares of Macy's from $22.00 to $17.00 and set an "in-line" rating on the stock in a research note on Tuesday, July 16th. Finally, Argus upgraded shares of Macy's to a "hold" rating in a research note on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Macy's currently has an average rating of "Hold" and a consensus target price of $20.43.

Macy's Stock Performance

Shares of Macy's stock traded down $0.07 during trading on Friday, hitting $15.27. 3,816,227 shares of the company's stock traded hands, compared to its average volume of 6,305,165. Macy's, Inc. has a 1 year low of $10.59 and a 1 year high of $22.10. The business has a 50-day simple moving average of $15.35 and a 200-day simple moving average of $17.20. The stock has a market capitalization of $4.24 billion, a P/E ratio of 23.86 and a beta of 2.11. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34.

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

Macy's Dividend Announcement

The firm 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. This represents a $0.69 annualized dividend and a dividend yield of 4.55%. The ex-dividend date is Friday, December 13th. Macy's's payout ratio is currently 107.81%.

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.