Charles Schwab Investment Management Inc. Acquires 118,626 Shares of Macy’s, Inc. (NYSE:M)

Charles Schwab Investment Management Inc. grew its holdings in Macy’s, Inc. (NYSE:M) by 4.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,661,876 shares of the company’s stock after purchasing an additional 118,626 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.96% of Macy’s worth $41,765,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. WINTON GROUP Ltd raised its holdings in Macy’s by 96.4% during the second quarter. WINTON GROUP Ltd now owns 106,636 shares of the company’s stock worth $2,047,000 after acquiring an additional 52,337 shares in the last quarter. Royce & Associates LP raised its position in shares of Macy’s by 5.2% in the third quarter. Royce & Associates LP now owns 1,420,000 shares of the company’s stock valued at $22,280,000 after buying an additional 70,000 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Macy’s by 454.3% during the 3rd quarter. International Assets Investment Management LLC now owns 111,587 shares of the company’s stock valued at $1,751,000 after acquiring an additional 91,455 shares during the period. Alden Global Capital LLC raised its stake in Macy’s by 56.1% in the second quarter. Alden Global Capital LLC now owns 606,741 shares of the company’s stock valued at $11,649,000 after purchasing an additional 218,146 shares in the last quarter. Finally, LSV Asset Management lifted its stake in Macy’s by 1.3% during the second quarter. LSV Asset Management now owns 5,374,167 shares of the company’s stock worth $103,184,000 after purchasing an additional 68,300 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Macy’s Trading Up 4.3 %

NYSE M opened at $16.94 on Tuesday. The firm’s fifty day moving average price is $15.53 and its 200 day moving average price is $16.69. Macy’s, Inc. has a 12 month low of $14.06 and a 12 month high of $22.10. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of 26.47 and a beta of 2.11.

Macy’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a $0.1737 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.69 annualized dividend and a yield of 4.10%. Macy’s’s payout ratio is currently 107.81%.

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.