Thrivent Financial for Lutherans Sells 1,545 Shares of Macy’s, Inc. (NYSE:M)

Thrivent Financial for Lutherans lessened its position in shares of Macy’s, Inc. (NYSE:M) by 2.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 64,938 shares of the company’s stock after selling 1,545 shares during the period. Thrivent Financial for Lutherans’ holdings in Macy’s were worth $1,019,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of M. Venturi Wealth Management LLC raised its position 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 last quarter. Future Financial Wealth Managment LLC acquired a new position in Macy’s during the 3rd quarter valued at approximately $39,000. Abich Financial Wealth Management LLC acquired a new position in Macy’s during the 2nd quarter valued at approximately $57,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Macy’s in the second quarter worth $62,000. Finally, Huntington National Bank lifted its stake in shares of Macy’s by 937.4% during the third quarter. Huntington National Bank now owns 4,637 shares of the company’s stock worth $73,000 after buying an additional 4,190 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on M shares. Argus upgraded Macy’s to a “hold” rating in a research note on Thursday, October 10th. Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 price target on shares of Macy’s in a report on Tuesday, November 26th. StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. Finally, Morgan Stanley reduced 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 report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Macy’s presently has an average rating of “Hold” and an average target price of $19.86.

Macy’s Stock Performance

M opened at $16.94 on Tuesday. The firm has a fifty day moving average price of $15.53 and a 200 day moving average price of $16.69. Macy’s, Inc. has a 1 year low of $14.06 and a 1 year high of $22.10. The stock has a market cap of $4.70 billion, a P/E ratio of 25.48 and a beta of 2.11. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Friday, December 13th. Macy’s’s payout ratio is currently 107.81%.

Macy’s Company 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.