Quest Partners LLC Takes $35,000 Position in Macy’s, Inc. (NYSE:M)

Quest Partners LLC purchased a new position in Macy’s, Inc. (NYSE:M) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,217 shares of the company’s stock, valued at approximately $35,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Venturi Wealth Management LLC grew its stake in Macy’s by 282.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after acquiring an additional 1,685 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Macy’s in the third quarter valued at approximately $39,000. Abich Financial Wealth Management LLC bought a new position in Macy’s in the second quarter worth approximately $57,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Macy’s during the 2nd quarter worth $62,000. Finally, Huntington National Bank raised its position in Macy’s by 937.4% during the 3rd quarter. Huntington National Bank now owns 4,637 shares of the company’s stock valued at $73,000 after purchasing an additional 4,190 shares in the last quarter. 87.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on M shares. StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a report on Wednesday, November 27th. Argus raised shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. Morgan Stanley dropped their target price on Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $17.00 price target on shares of Macy’s in a research report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $19.86.

Macy’s Trading Up 1.8 %

Shares of NYSE:M opened at $16.24 on Monday. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. Macy’s, Inc. has a 52-week low of $14.06 and a 52-week high of $22.10. The business has a 50-day moving average price of $15.53 and a 200-day moving average price of $16.71. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 25.38 and a beta of 2.11.

Macy’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.1737 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.28%. Macy’s’s dividend payout ratio is presently 107.81%.

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.