Thrivent Financial for Lutherans Decreases Stock Holdings in Macy’s, Inc. (NYSE:M)

Thrivent Financial for Lutherans lessened its stake in shares of Macy’s, Inc. (NYSE:M) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,938 shares of the company’s stock after selling 1,545 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Macy’s were worth $1,019,000 as of its most recent SEC filing.

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

Macy’s Price Performance

Macy’s stock opened at $16.94 on Tuesday. The firm has a market capitalization of $4.70 billion, a PE ratio of 25.48 and a beta of 2.11. Macy’s, Inc. has a 12-month low of $14.06 and a 12-month high of $22.10. The firm has a 50-day moving average price of $15.53 and a 200-day moving average price of $16.69. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70.

Macy’s Announces Dividend

The business also recently declared 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. This represents a $0.69 annualized dividend and a dividend yield of 4.10%. The ex-dividend date is Friday, December 13th. Macy’s’s dividend payout ratio is presently 107.81%.

Wall Street Analyst Weigh In

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

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.