Blue Trust Inc. Raises Position in Macy’s, Inc. (NYSE:M)

Blue Trust Inc. lifted its position in Macy’s, Inc. (NYSE:M) by 619.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,868 shares of the company’s stock after acquiring an additional 4,191 shares during the period. Blue Trust Inc.’s holdings in Macy’s were worth $76,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall Wace LLP boosted its stake in Macy’s by 1,539.5% during the second quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock worth $67,871,000 after acquiring an additional 3,319,337 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Macy’s by 9.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company’s stock valued at $297,385,000 after buying an additional 1,379,476 shares in the last quarter. American Century Companies Inc. raised its stake in Macy’s by 18.9% during the second quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock valued at $90,333,000 after buying an additional 747,542 shares during the last quarter. Beryl Capital Management LLC purchased a new stake in shares of Macy’s in the first quarter worth $7,015,000. Finally, Alden Global Capital LLC increased its holdings in shares of Macy’s by 56.1% during the second quarter. Alden Global Capital LLC now owns 606,741 shares of the company’s stock valued at $11,649,000 after acquiring an additional 218,146 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Macy’s Trading Down 0.9 %

Macy’s stock opened at $15.43 on Thursday. The business has a 50-day simple moving average of $15.36 and a two-hundred day simple moving average of $17.24. Macy’s, Inc. has a 52-week low of $10.59 and a 52-week high of $22.10. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The company has a market cap of $4.27 billion, a P/E ratio of 514.33 and a beta of 2.11.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, August 21st. The company reported $0.53 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 company had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same period last year, the firm earned $0.26 EPS. Macy’s’s revenue for the quarter was down 3.8% compared to the same quarter last year. Analysts predict that Macy’s, Inc. will post 2.72 EPS for the current year.

Macy’s Dividend Announcement

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 paid a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date is Friday, December 13th. Macy’s’s dividend payout ratio (DPR) is 2,300.00%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on M shares. Telsey Advisory Group reissued a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research report on Wednesday, August 21st. Argus upgraded shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. Morgan Stanley reduced their target price 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. Evercore ISI lowered their price target on Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a report on Tuesday, July 16th. Finally, StockNews.com initiated coverage on Macy’s in a research report on Friday, October 25th. They issued a “hold” rating for the company. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Macy’s presently has a consensus rating of “Hold” and an average price target 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.