B. Riley Wealth Advisors Inc. Has $294,000 Position in Macy’s, Inc. (NYSE:M)

B. Riley Wealth Advisors Inc. lessened its stake in shares of Macy’s, Inc. (NYSE:M) by 10.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 15,156 shares of the company’s stock after selling 1,787 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Macy’s were worth $294,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC increased its position in Macy’s by 7.7% during the 2nd quarter. CWM LLC now owns 8,398 shares of the company’s stock worth $161,000 after buying an additional 598 shares during the period. SummerHaven Investment Management LLC grew its stake in shares of Macy’s by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 44,321 shares of the company’s stock valued at $851,000 after acquiring an additional 761 shares in the last quarter. Wedmont Private Capital increased its position in Macy’s by 6.1% during the second quarter. Wedmont Private Capital now owns 14,403 shares of the company’s stock worth $275,000 after acquiring an additional 833 shares during the period. State Board of Administration of Florida Retirement System raised its stake in Macy’s by 0.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock worth $2,839,000 after purchasing an additional 877 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in Macy’s by 9.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 11,800 shares of the company’s stock valued at $236,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 87.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Macy’s in a report on Wednesday. They set a “hold” rating on the stock. Morgan Stanley cut their target price on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Telsey Advisory Group restated a “market perform” rating and issued a $21.00 price target on shares of Macy’s in a research report on Wednesday, August 21st. Finally, Evercore ISI dropped their price target on Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research note on Tuesday, July 16th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Macy’s currently has a consensus rating of “Hold” and an average target price of $20.43.

Macy’s Stock Performance

Macy’s stock opened at $15.22 on Wednesday. The stock has a market cap of $4.21 billion, a PE ratio of 507.33 and a beta of 2.11. 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 12-month low of $10.54 and a 12-month high of $22.10. The business’s 50-day moving average price is $15.56 and its two-hundred day moving average price is $17.65.

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

Macy’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $0.1737 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.69 dividend on an annualized basis and a yield of 4.57%. Macy’s’s payout ratio is presently 2,300.00%.

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.