Blue Trust Inc. Increases Stake in Macy’s, Inc. (NYSE:M)

Blue Trust Inc. raised its holdings in shares of Macy’s, Inc. (NYSE:M) by 619.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,868 shares of the company’s stock after purchasing an additional 4,191 shares during the quarter. Blue Trust Inc.’s holdings in Macy’s were worth $76,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in M. CWM LLC lifted its stake in Macy’s by 7.7% in the 2nd quarter. CWM LLC now owns 8,398 shares of the company’s stock worth $161,000 after purchasing an additional 598 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in Macy’s by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 44,321 shares of the company’s stock worth $851,000 after acquiring an additional 761 shares during the last quarter. Wedmont Private Capital raised its holdings in shares of Macy’s by 6.1% in the 2nd quarter. Wedmont Private Capital now owns 14,403 shares of the company’s stock valued at $275,000 after acquiring an additional 833 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Macy’s by 0.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock valued at $2,839,000 after acquiring an additional 877 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in shares of Macy’s by 9.3% during the first quarter. Gamco Investors INC. ET AL now owns 11,800 shares of the company’s stock worth $236,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors own 87.36% of the company’s stock.

Macy’s Stock Performance

NYSE:M opened at $15.43 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. Macy’s, Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $22.10. The firm has a market cap of $4.27 billion, a PE ratio of 514.33 and a beta of 2.11. The business has a 50 day moving average price of $15.36 and a 200-day moving average price of $17.24.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.30 by $0.23. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The firm had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same period in the prior year, the firm posted $0.26 earnings per share. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. Equities research analysts predict that Macy’s, Inc. will post 2.72 earnings per share for the current year.

Macy’s Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.50%. Macy’s’s dividend payout ratio (DPR) is presently 2,300.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on M shares. Evercore ISI cut their price target on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research note on Tuesday, July 16th. Telsey Advisory Group reiterated a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a report on Wednesday, August 21st. StockNews.com began coverage on Macy’s in a report on Friday, October 25th. They set a “hold” rating on the stock. Morgan Stanley cut their target price on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Finally, Argus upgraded shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.