MML Investors Services LLC Acquires New Shares in Macy’s, Inc. (NYSE:M)

MML Investors Services LLC bought a new position in Macy’s, Inc. (NYSE:M) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 12,275 shares of the company’s stock, valued at approximately $193,000.

Several other hedge funds and other institutional investors have also bought and sold shares of M. Quest Partners LLC purchased a new position in Macy’s in the third quarter worth about $35,000. Venturi Wealth Management LLC lifted its stake in shares of 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 purchasing an additional 1,685 shares during the period. Future Financial Wealth Managment LLC purchased a new position in shares of Macy’s in the third quarter worth approximately $39,000. Abich Financial Wealth Management LLC bought a new stake in Macy’s during the second quarter valued at approximately $57,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Macy’s during the second quarter valued at approximately $62,000. Institutional investors own 87.36% of the company’s stock.

Macy’s Price Performance

M opened at $18.10 on Friday. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 30.68 and a beta of 2.11. The company has a current ratio of 1.26, a quick ratio of 0.34 and a debt-to-equity ratio of 0.67. Macy’s, Inc. has a 12-month low of $14.06 and a 12-month high of $22.10. The business’s fifty day simple moving average is $15.97 and its 200-day simple moving average is $16.36.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. Macy’s’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 EPS. On average, equities research analysts anticipate that Macy’s, Inc. will post 2.38 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date is Friday, December 13th. Macy’s’s payout ratio is currently 116.95%.

Analysts Set New Price Targets

M has been the subject of several analyst reports. UBS Group reduced their target price on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a report on Thursday, December 12th. Gordon Haskett upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Monday, December 16th. Argus raised shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. Morgan Stanley decreased their price target on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. Finally, StockNews.com lowered Macy’s from a “buy” rating to a “hold” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $18.56.

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.