Proficio Capital Partners LLC bought a new stake in Macy's, Inc. (NYSE:M - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 36,670 shares of the company's stock, valued at approximately $621,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in M. Charles Schwab Investment Management Inc. boosted its holdings in shares of Macy's by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company's stock worth $41,765,000 after purchasing an additional 118,626 shares during the last quarter. FMR LLC boosted its stake in Macy's by 4.4% in the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company's stock worth $73,611,000 after buying an additional 195,880 shares during the last quarter. Virtu Financial LLC purchased a new stake in Macy's in the 3rd quarter valued at about $594,000. HB Wealth Management LLC lifted its holdings in shares of Macy's by 724.1% during the 4th quarter. HB Wealth Management LLC now owns 103,584 shares of the company's stock worth $1,754,000 after acquiring an additional 91,015 shares during the period. Finally, Alerus Financial NA purchased a new stake in Macy's in the third quarter valued at approximately $2,144,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.
Macy's Stock Up 1.6 %
NYSE:M traded up $0.23 during trading hours on Wednesday, hitting $13.94. The stock had a trading volume of 7,345,224 shares, compared to its average volume of 7,225,818. The company has a market cap of $3.87 billion, a PE ratio of 23.62 and a beta of 2.07. The business has a 50 day simple moving average of $14.85 and a two-hundred day simple moving average of $15.42. Macy's, Inc. has a 1-year low of $12.60 and a 1-year high of $22.10. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67.
Macy's (NYSE:M - Get Free Report) last announced its earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.25. Macy's had a net margin of 0.73% and a return on equity of 21.99%. The business had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.76 billion. Analysts predict that Macy's, Inc. will post 2.39 EPS for the current year.
Macy's Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.24%. This is a positive change from Macy's's previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, March 14th. Macy's's payout ratio is presently 35.44%.
Wall Street Analyst Weigh In
M has been the subject of a number of research analyst reports. Guggenheim restated a "neutral" rating on shares of Macy's in a report on Thursday, December 12th. StockNews.com upgraded Macy's from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Citigroup cut their price objective on Macy's from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. The Goldman Sachs Group decreased their target price on Macy's from $19.00 to $17.00 and set a "buy" rating for the company in a report on Friday, March 7th. Finally, Gordon Haskett lowered shares of Macy's from an "accumulate" rating to a "hold" rating in a report on Thursday, March 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $15.56.
Read Our Latest Analysis on Macy's
Macy's Profile
(
Free Report)
Macy's, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm's brands include Macy's, Bloomingdale's, and Bluemercury. It offers men's, women's, and children's apparel, women's accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.
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