12,969 Shares in Macy’s, Inc. (NYSE:M) Purchased by Norden Group LLC

Norden Group LLC bought a new position in shares of Macy’s, Inc. (NYSE:MFree Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 12,969 shares of the company’s stock, valued at approximately $259,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Macy’s by 7.8% during the 3rd quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock worth $422,390,000 after buying an additional 2,645,577 shares during the period. Deutsche Bank AG raised its stake in Macy’s by 260.8% in the 3rd quarter. Deutsche Bank AG now owns 2,547,529 shares of the company’s stock worth $29,577,000 after purchasing an additional 1,841,432 shares in the last quarter. American Century Companies Inc. raised its stake in Macy’s by 20.8% in the 3rd quarter. American Century Companies Inc. now owns 3,287,930 shares of the company’s stock worth $38,173,000 after purchasing an additional 565,269 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Macy’s in the 4th quarter worth about $6,021,000. Finally, Invenomic Capital Management LP acquired a new stake in Macy’s in the 4th quarter worth about $19,372,000. Institutional investors own 87.36% of the company’s stock.

Macy’s Price Performance

M stock opened at $18.87 on Wednesday. The company has a 50 day simple moving average of $19.06 and a 200 day simple moving average of $19.22. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 629.00 and a beta of 2.18. Macy’s, Inc. has a 1 year low of $10.54 and a 1 year high of $22.10. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 0.35.

Macy’s (NYSE:MGet Free Report) last released its quarterly earnings data on Tuesday, May 21st. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.56 EPS. Research analysts anticipate that Macy’s, Inc. will post 2.79 EPS for the current fiscal year.

Macy’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were given a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date was Friday, June 14th. Macy’s’s dividend payout ratio is 2,300.00%.

Analyst Ratings Changes

M has been the subject of several analyst reports. StockNews.com initiated coverage on shares of Macy’s in a research note on Friday, July 5th. They issued a “hold” rating for the company. Telsey Advisory Group reiterated a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a research note on Tuesday, May 21st. TD Cowen lifted their price objective on shares of Macy’s from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, May 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.70.

Check Out Our Latest Stock Report on Macy’s

Macy’s Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Macy's (NYSE:M)

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