Creative Planning Lowers Holdings in Macy’s, Inc. (NYSE:M)

Creative Planning decreased its stake in shares of Macy’s, Inc. (NYSE:M) by 8.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,310 shares of the company’s stock after selling 5,393 shares during the quarter. Creative Planning’s holdings in Macy’s were worth $899,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Wedmont Private Capital raised its stake in shares of Macy’s by 31.1% in the third quarter. Wedmont Private Capital now owns 18,887 shares of the company’s stock worth $290,000 after purchasing an additional 4,484 shares during the last quarter. CWM LLC raised its stake in shares of Macy’s by 26.0% in the third quarter. CWM LLC now owns 10,584 shares of the company’s stock worth $166,000 after purchasing an additional 2,186 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Macy’s in the third quarter worth $39,000. Affinity Capital Advisors LLC raised its stake in shares of Macy’s by 11.5% in the third quarter. Affinity Capital Advisors LLC now owns 12,116 shares of the company’s stock worth $190,000 after purchasing an additional 1,248 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its stake in shares of Macy’s by 17.0% in the third quarter. Handelsbanken Fonder AB now owns 57,865 shares of the company’s stock worth $908,000 after purchasing an additional 8,400 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Macy’s Stock Performance

NYSE:M opened at $15.27 on Friday. The stock has a 50-day simple moving average of $15.35 and a two-hundred day simple moving average of $17.20. Macy’s, Inc. has a 52-week low of $10.59 and a 52-week high of $22.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. The firm has a market capitalization of $4.24 billion, a PE ratio of 23.86 and a beta of 2.11.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.23. The firm had revenue of $4.94 billion during the quarter, compared to analyst estimates of $5.06 billion. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 earnings per share. Analysts forecast that Macy’s, Inc. will post 2.72 EPS for the current year.

Macy’s Dividend Announcement

The company 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 dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date is Friday, December 13th. Macy’s’s payout ratio is presently 107.81%.

Analyst Ratings Changes

A number of analysts recently commented on M shares. Argus upgraded Macy’s to a “hold” rating in a research report on Thursday, October 10th. Evercore ISI reduced their price objective on Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research report on Tuesday, July 16th. StockNews.com started coverage on Macy’s in a research report on Saturday. They set a “hold” rating for the company. Morgan Stanley reduced their price objective 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. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research report on Wednesday, August 21st. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $20.43.

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.