Allspring Global Investments Holdings LLC Reduces Holdings in Macy’s, Inc. (NYSE:M)

Allspring Global Investments Holdings LLC decreased its position in shares of Macy’s, Inc. (NYSE:M) by 88.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,576 shares of the company’s stock after selling 188,642 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Macy’s were worth $386,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new stake in shares of Macy’s in the 3rd quarter worth about $39,000. Fidelis Capital Partners LLC bought a new stake in shares of Macy’s in the 1st quarter worth about $42,000. EntryPoint Capital LLC bought a new stake in shares of Macy’s in the 1st quarter worth about $51,000. Abich Financial Wealth Management LLC bought a new stake in shares of Macy’s in the 2nd quarter worth about $57,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Macy’s in the 2nd quarter worth about $62,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Telsey Advisory Group reissued a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a research report on Wednesday, August 21st. Argus raised shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Evercore ISI decreased 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 report on Tuesday, July 16th. Morgan Stanley decreased their price target 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. Finally, StockNews.com started coverage on shares of Macy’s in a report on Saturday. They issued a “hold” rating for the company. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.43.

Macy’s Trading Down 0.5 %

Macy’s stock opened at $15.27 on Friday. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $15.35 and a two-hundred day moving average price of $17.20. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of 23.86 and a beta of 2.11. Macy’s, Inc. has a 52-week low of $10.59 and a 52-week high of $22.10.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. The firm had revenue of $4.94 billion during the quarter, compared to analyst estimates of $5.06 billion. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. Macy’s’s revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 EPS. Sell-side analysts expect that Macy’s, Inc. will post 2.72 earnings per share for the current year.

Macy’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.1737 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.55%. Macy’s’s dividend payout ratio (DPR) is 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.