Principal Financial Group Inc. Has $10.04 Million Position in Macy's, Inc. (NYSE:M)

Principal Financial Group Inc. lowered its position in shares of Macy's, Inc. (NYSE:M - Free Report) by 30.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 640,142 shares of the company's stock after selling 276,047 shares during the quarter. Principal Financial Group Inc. owned approximately 0.23% of Macy's worth $10,044,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Quest Partners LLC acquired a new position in Macy's in the third quarter valued at approximately $35,000. Venturi Wealth Management LLC lifted its stake in shares of Macy's by 282.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company's stock valued at $36,000 after purchasing an additional 1,685 shares during the period. Future Financial Wealth Managment LLC acquired a new position in shares of Macy's in the 3rd quarter valued at $39,000. Abich Financial Wealth Management LLC bought a new position in shares of Macy's in the 2nd quarter worth $57,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Macy's during the second quarter worth $62,000. Institutional investors and hedge funds own 87.36% of the company's stock.

Wall Street Analysts Forecast Growth

M has been the topic of a number of analyst reports. Morgan Stanley cut their price target on shares of Macy's from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Thursday, December 12th. StockNews.com lowered shares of Macy's from a "buy" rating to a "hold" rating in a report on Thursday, December 26th. Guggenheim reissued a "neutral" rating on shares of Macy's in a report on Thursday, December 12th. UBS Group dropped their price objective on Macy's from $10.00 to $9.00 and set a "sell" rating on the stock in a research note on Thursday, December 12th. Finally, Argus raised Macy's to a "hold" rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Macy's has a consensus rating of "Hold" and an average price target of $18.56.

Macy's Stock Up 1.0 %

M stock traded up $0.16 during mid-day trading on Tuesday, reaching $16.93. The company had a trading volume of 5,849,830 shares, compared to its average volume of 6,418,637. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of 28.69 and a beta of 2.10. Macy's, Inc. has a 52 week low of $14.06 and a 52 week high of $22.10. The stock has a 50 day simple moving average of $16.01 and a two-hundred day simple moving average of $16.29. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.34.

Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.03). The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.74 billion. Macy's had a net margin of 0.73% and a return on equity of 21.99%. The business's revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 EPS. As a group, equities analysts predict that Macy's, Inc. will post 2.38 earnings per share for the current fiscal year.

Macy's Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend is Friday, December 13th. Macy's's dividend payout ratio is 116.95%.

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.