Victory Capital Management Inc. Raises Stake in Macy’s, Inc. (NYSE:M)

Victory Capital Management Inc. lifted its position in shares of Macy’s, Inc. (NYSE:M) by 3.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 410,710 shares of the company’s stock after buying an additional 15,401 shares during the quarter. Victory Capital Management Inc. owned approximately 0.15% of Macy’s worth $6,444,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP increased its position in Macy’s by 9.8% during the second quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company’s stock worth $297,385,000 after purchasing an additional 1,379,476 shares during the last quarter. LSV Asset Management increased its position 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. American Century Companies Inc. increased its position in Macy’s by 18.9% during the second quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock worth $90,333,000 after purchasing an additional 747,542 shares during the last quarter. Marshall Wace LLP increased its position in Macy’s by 1,539.5% during the second quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock worth $67,871,000 after purchasing an additional 3,319,337 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Macy’s by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 3,185,513 shares of the company’s stock worth $61,162,000 after purchasing an additional 37,254 shares during the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Macy’s Trading Up 8.1 %

NYSE M opened at $16.30 on Friday. 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 $4.52 billion, a price-to-earnings ratio of 25.46 and a beta of 2.11. The company’s fifty day moving average price is $15.45 and its two-hundred day moving average price is $16.85.

Macy’s (NYSE:M) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The firm had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same period in the prior year, the firm posted $0.26 EPS. The firm’s revenue was down 3.8% compared to the same quarter last year. As a group, research analysts predict that Macy’s, Inc. will post 2.7 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.26%. Macy’s’s payout ratio is currently 107.81%.

Wall Street Analysts Forecast Growth

M has been the subject of several recent research reports. Morgan Stanley dropped their price objective on shares of 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. StockNews.com initiated coverage on shares of Macy’s in a research report on Sunday, November 10th. They issued a “hold” rating for the company. Argus raised shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently 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.