Captrust Financial Advisors Invests $168,000 in Macy’s, Inc. (NYSE:M)

Captrust Financial Advisors acquired a new position in shares of Macy’s, Inc. (NYSE:M) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 10,688 shares of the company’s stock, valued at approximately $168,000.

Several other large investors have also modified their holdings of M. Nisa Investment Advisors LLC lifted its holdings in shares of Macy’s by 589.6% in the second quarter. Nisa Investment Advisors LLC now owns 33,240 shares of the company’s stock valued at $645,000 after purchasing an additional 28,420 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Macy’s by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 44,321 shares of the company’s stock valued at $851,000 after purchasing an additional 761 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Macy’s by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 3,185,513 shares of the company’s stock valued at $61,162,000 after purchasing an additional 37,254 shares in the last quarter. Bailard Inc. lifted its holdings in shares of Macy’s by 64.4% in the second quarter. Bailard Inc. now owns 32,953 shares of the company’s stock valued at $633,000 after purchasing an additional 12,913 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Macy’s by 33.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 213,218 shares of the company’s stock valued at $4,094,000 after purchasing an additional 53,471 shares in the last quarter. 87.36% of the stock is owned by institutional investors.

Macy’s Stock Up 1.0 %

NYSE M opened at $16.72 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.34 and a debt-to-equity ratio of 0.67. The stock’s 50 day moving average is $15.82 and its two-hundred day moving average is $16.44. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of 28.34 and a beta of 2.10. Macy’s, Inc. has a 1-year low of $14.06 and a 1-year high of $22.10.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.74 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 earnings per share. Equities analysts forecast that Macy’s, Inc. will post 2.38 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

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 $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Friday, December 13th. Macy’s’s dividend payout ratio (DPR) is currently 116.95%.

Analysts Set New Price Targets

Several brokerages recently issued reports on M. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Telsey Advisory Group reiterated a “market perform” rating and set a $17.00 price objective on shares of Macy’s in a report on Wednesday, December 11th. Argus upgraded Macy’s to a “hold” rating in a report on Thursday, October 10th. Morgan Stanley cut their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. Finally, StockNews.com lowered Macy’s from a “buy” rating to a “hold” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Macy’s has a consensus rating of “Hold” and a consensus price target of $18.56.

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.