Macy’s, Inc. (NYSE:M) Shares Bought by Wedmont Private Capital

Wedmont Private Capital grew its stake in Macy’s, Inc. (NYSE:M) by 31.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,887 shares of the company’s stock after purchasing an additional 4,484 shares during the quarter. Wedmont Private Capital’s holdings in Macy’s were worth $290,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in Macy’s by 9.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company’s stock worth $297,385,000 after buying an additional 1,379,476 shares during the last quarter. LSV Asset Management increased its position in shares of Macy’s by 1.3% during the second quarter. LSV Asset Management now owns 5,374,167 shares of the company’s stock worth $103,184,000 after purchasing an additional 68,300 shares in the last quarter. American Century Companies Inc. raised its stake in Macy’s by 18.9% in the 2nd quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock valued at $90,333,000 after purchasing an additional 747,542 shares during the last quarter. Marshall Wace LLP lifted its holdings in Macy’s by 1,539.5% in the 2nd quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock valued at $67,871,000 after purchasing an additional 3,319,337 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Macy’s by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,185,513 shares of the company’s stock worth $61,162,000 after purchasing an additional 37,254 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Macy’s Trading Up 2.2 %

Shares of Macy’s stock opened at $15.78 on Friday. The stock has a 50 day moving average of $15.50 and a 200 day moving average of $17.58. 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 firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of 526.00 and a beta of 2.11. Macy’s, Inc. has a fifty-two week low of $10.54 and a fifty-two week high of $22.10.

Macy’s (NYSE:M) last issued its quarterly earnings data 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 firm had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same period last year, the company earned $0.26 EPS. The company’s quarterly revenue was down 3.8% on a year-over-year basis. As a group, research analysts predict that Macy’s, Inc. will post 2.72 earnings per share for the current year.

Macy’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $0.1737 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.40%. Macy’s’s payout ratio is currently 2,300.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on M. Telsey Advisory Group reissued a “market perform” rating and issued a $21.00 price target on shares of Macy’s in a research note on Wednesday, August 21st. Evercore ISI decreased their target price 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. Argus upgraded Macy’s to a “hold” rating in a research report on Thursday. Morgan Stanley cut their price target on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Finally, StockNews.com began coverage on Macy’s in a research note on Wednesday. They set a “hold” rating on the stock. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.43.

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.