International Assets Investment Management LLC Grows Stock Position in Macy's, Inc. (NYSE:M)

International Assets Investment Management LLC increased its stake in Macy's, Inc. (NYSE:M - Free Report) by 454.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,587 shares of the company's stock after acquiring an additional 91,455 shares during the period. International Assets Investment Management LLC's holdings in Macy's were worth $1,751,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its stake in Macy's by 39.2% in the third quarter. Signaturefd LLC now owns 26,748 shares of the company's stock worth $420,000 after purchasing an additional 7,534 shares during the last quarter. OLD National Bancorp IN increased its position in shares of Macy's by 2.3% during the third quarter. OLD National Bancorp IN now owns 90,000 shares of the company's stock worth $1,412,000 after acquiring an additional 2,000 shares during the period. Blue Trust Inc. increased its position in shares of Macy's by 619.1% during the third quarter. Blue Trust Inc. now owns 4,868 shares of the company's stock worth $76,000 after acquiring an additional 4,191 shares during the period. BCS Wealth Management bought a new stake in shares of Macy's during the third quarter valued at approximately $158,000. Finally, nVerses Capital LLC bought a new position in Macy's in the third quarter worth approximately $290,000. Hedge funds and other institutional investors own 87.36% of the company's stock.

Macy's Stock Down 0.4 %

Shares of M stock traded down $0.06 during trading hours on Monday, reaching $15.21. 3,946,387 shares of the company's stock were exchanged, compared to its average volume of 6,294,130. The stock's 50 day moving average is $15.35 and its 200-day moving average is $17.17. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 23.77 and a beta of 2.11. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. Macy's, Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $22.10.

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

Macy's Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a $0.1737 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend is Friday, December 13th. Macy's's payout ratio is 107.81%.

Wall Street Analyst Weigh In

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

Macy's Company 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.