Handelsinvest Investeringsforvaltning trimmed its holdings in Macy’s, Inc. (NYSE:M – Free Report) by 34.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,380 shares of the company’s stock after selling 5,908 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Macy’s were worth $227,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also made changes to their positions in the business. Glassman Wealth Services lifted its position in shares of Macy’s by 154.5% in the fourth quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock worth $25,000 after buying an additional 743 shares in the last quarter. Lindbrook Capital LLC lifted its position in shares of Macy’s by 253.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after buying an additional 944 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Macy’s in the first quarter worth about $27,000. Fortitude Family Office LLC purchased a new stake in shares of Macy’s in the fourth quarter worth about $50,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Macy’s during the first quarter worth approximately $50,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.
Macy’s Trading Up 0.7 %
M opened at $17.95 on Thursday. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of 598.33 and a beta of 2.18. The stock’s 50 day moving average price is $19.03 and its 200-day moving average price is $19.26. Macy’s, Inc. has a one year low of $10.54 and a one year high of $22.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.35 and a current ratio of 1.38.
Macy’s Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were paid a $0.1737 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.69 annualized dividend and a yield of 3.87%. Macy’s’s dividend payout ratio (DPR) is currently 2,300.00%.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. Telsey Advisory Group reissued a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research note on Tuesday, May 21st. JPMorgan Chase & Co. boosted their price objective on Macy’s from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 22nd. StockNews.com assumed coverage on Macy’s in a research note on Thursday, June 27th. They set a “hold” rating on the stock. Finally, TD Cowen boosted their price objective on Macy’s from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Wednesday, May 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Macy’s has a consensus rating of “Hold” and a consensus target price of $17.70.
Get Our Latest Stock Analysis on M
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.
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