Macy’s, Inc. (NYSE:M) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC raised its holdings in Macy’s, Inc. (NYSE:M) by 94.4% during the third quarter, HoldingsChannel.com reports. The firm owned 54,704 shares of the company’s stock after buying an additional 26,557 shares during the period. Empowered Funds LLC’s holdings in Macy’s were worth $858,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE lifted its position in shares of Macy’s by 6.4% during the first quarter. US Bancorp DE now owns 21,669 shares of the company’s stock worth $433,000 after purchasing an additional 1,306 shares during the last quarter. EntryPoint Capital LLC bought a new position in Macy’s during the 1st quarter worth approximately $51,000. Gamco Investors INC. ET AL grew its position in shares of Macy’s by 9.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 11,800 shares of the company’s stock worth $236,000 after acquiring an additional 1,000 shares in the last quarter. Gabelli Funds LLC increased its holdings in shares of Macy’s by 16.2% in the 1st quarter. Gabelli Funds LLC now owns 159,750 shares of the company’s stock valued at $3,193,000 after acquiring an additional 22,250 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Macy’s by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 141,529 shares of the company’s stock valued at $2,830,000 after acquiring an additional 8,403 shares in the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Macy’s Trading Up 8.1 %

Macy’s stock opened at $16.30 on Friday. Macy’s, Inc. has a 12-month low of $14.06 and a 12-month high of $22.10. The stock has a market capitalization of $4.52 billion, a PE ratio of 25.46 and a beta of 2.11. The firm has a 50 day simple moving average of $15.45 and a 200-day simple moving average of $16.85. 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) last announced its earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter last year, the business posted $0.26 earnings per share. The company’s quarterly revenue was down 3.8% on a year-over-year basis. As a group, equities research analysts expect that Macy’s, Inc. will post 2.7 EPS for the current fiscal year.

Macy’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.1737 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.26%. Macy’s’s dividend payout ratio is currently 107.81%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. 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 research note on Thursday, August 22nd. Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research note on Wednesday, August 21st. StockNews.com assumed coverage on Macy’s in a research note on Sunday, November 10th. They issued a “hold” rating for the company. Finally, Argus upgraded Macy’s to a “hold” rating in a research report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Macy’s presently has an average rating of “Hold” and a consensus price target of $20.43.

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.