Mutual Advisors LLC Raises Stock Holdings in Macy’s, Inc. (NYSE:M)

Mutual Advisors LLC increased its position in Macy’s, Inc. (NYSE:MFree Report) by 58.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,623 shares of the company’s stock after acquiring an additional 32,537 shares during the period. Mutual Advisors LLC’s holdings in Macy’s were worth $1,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in M. Gotham Asset Management LLC grew its position in Macy’s by 96.5% during the 3rd quarter. Gotham Asset Management LLC now owns 27,659 shares of the company’s stock worth $321,000 after purchasing an additional 13,583 shares during the period. Penserra Capital Management LLC acquired a new stake in shares of Macy’s during the 3rd quarter valued at about $946,000. Belpointe Asset Management LLC grew its position in shares of Macy’s by 14.3% during the 3rd quarter. Belpointe Asset Management LLC now owns 12,717 shares of the company’s stock valued at $148,000 after acquiring an additional 1,592 shares during the period. Revisor Wealth Management LLC acquired a new stake in shares of Macy’s during the 3rd quarter valued at about $205,000. Finally, Deutsche Bank AG grew its position in shares of Macy’s by 260.8% during the 3rd quarter. Deutsche Bank AG now owns 2,547,529 shares of the company’s stock valued at $29,577,000 after acquiring an additional 1,841,432 shares during the period. 87.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on M. Telsey Advisory Group restated a “market perform” rating and set a $21.00 target price on shares of Macy’s in a research report on Tuesday, May 21st. StockNews.com began coverage on Macy’s in a research report on Friday, July 5th. They set a “hold” rating on the stock. JPMorgan Chase & Co. raised their target price on Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, May 22nd. Finally, TD Cowen raised their target price on Macy’s from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday, May 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $17.70.

Get Our Latest Stock Report on Macy’s

Macy’s Trading Down 0.3 %

M opened at $18.87 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 0.35. The company’s 50 day simple moving average is $19.06 and its two-hundred day simple moving average is $19.22. Macy’s, Inc. has a 1-year low of $10.54 and a 1-year high of $22.10. The firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of 629.00 and a beta of 2.18.

Macy’s (NYSE:MGet Free Report) last released its earnings results on Tuesday, May 21st. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period last year, the company posted $0.56 EPS. The business’s revenue was down 2.7% on a year-over-year basis. Analysts expect that Macy’s, Inc. will post 2.79 EPS for the current fiscal year.

Macy’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were paid a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend was Friday, June 14th. Macy’s’s dividend payout ratio (DPR) is 2,300.00%.

Macy’s Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding M? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macy’s, Inc. (NYSE:MFree Report).

Institutional Ownership by Quarter for Macy's (NYSE:M)

Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter.