Guggenheim Capital LLC Has $527,000 Position in Macy’s, Inc. (NYSE:M)

Guggenheim Capital LLC reduced its holdings in Macy’s, Inc. (NYSE:M – Get Rating) by 14.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,675 shares of the company’s stock after selling 5,795 shares during the period. Guggenheim Capital LLC’s holdings in Macy’s were worth $527,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of M. Vanguard Group Inc. raised its holdings in Macy’s by 5.7% in the first quarter. Vanguard Group Inc. now owns 30,550,118 shares of the company’s stock worth $744,202,000 after purchasing an additional 1,642,941 shares during the period. Renaissance Technologies LLC increased its position in shares of Macy’s by 224.5% during the second quarter. Renaissance Technologies LLC now owns 12,320,464 shares of the company’s stock worth $225,711,000 after acquiring an additional 8,523,700 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Macy’s by 27.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 10,106,073 shares of the company’s stock worth $246,184,000 after acquiring an additional 2,155,936 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Macy’s by 25.9% during the third quarter. Dimensional Fund Advisors LP now owns 9,904,227 shares of the company’s stock worth $155,205,000 after acquiring an additional 2,040,551 shares in the last quarter. Finally, LSV Asset Management increased its position in shares of Macy’s by 4.9% during the third quarter. LSV Asset Management now owns 3,513,526 shares of the company’s stock worth $55,057,000 after acquiring an additional 164,700 shares in the last quarter. 80.19% of the stock is currently owned by institutional investors and hedge funds.

Macy’s Stock Performance

Shares of M stock opened at $19.59 on Friday. The stock has a market cap of $5.31 billion, a P/E ratio of 4.68, a P/E/G ratio of 0.46 and a beta of 1.83. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.20 and a quick ratio of 0.33. The company has a fifty day moving average price of $22.17 and a two-hundred day moving average price of $20.40. Macy’s, Inc. has a one year low of $15.10 and a one year high of $28.06.

Macy’s (NYSE:M – Get Rating) last announced its quarterly earnings results on Thursday, March 2nd. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.31. The firm had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.27 billion. Macy’s had a net margin of 4.82% and a return on equity of 35.06%. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.45 earnings per share. As a group, equities analysts predict that Macy’s, Inc. will post 3.82 EPS for the current year.

Macy’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Wednesday, March 15th will be paid a dividend of $0.1654 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Tuesday, March 14th. This is a boost from Macy’s’s previous quarterly dividend of $0.16. Macy’s’s dividend payout ratio (DPR) is currently 15.04%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on M shares. JPMorgan Chase & Co. increased their price objective on shares of Macy’s from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, March 3rd. StockNews.com downgraded shares of Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, December 30th. Credit Suisse Group increased their price objective on shares of Macy’s from $19.00 to $20.00 and gave the stock an “underperform” rating in a research report on Friday, March 3rd. Morgan Stanley raised their target price on shares of Macy’s from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Friday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Macy’s from $23.00 to $22.00 in a research report on Tuesday, January 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Macy’s presently has an average rating of “Hold” and an average target price of $24.27.

Macy’s Company Profile

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Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.