Point72 Hong Kong Ltd Invests $434,000 in Macy’s, Inc. (NYSE:M)

Point72 Hong Kong Ltd acquired a new stake in Macy’s, Inc. (NYSE:M) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,662 shares of the company’s stock, valued at approximately $434,000.

A number of other large investors have also made changes to their positions in M. CWM LLC grew its stake in Macy’s by 7.7% in the 2nd quarter. CWM LLC now owns 8,398 shares of the company’s stock worth $161,000 after acquiring an additional 598 shares during the period. SummerHaven Investment Management LLC grew its position 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 purchasing an additional 761 shares during the period. Wedmont Private Capital increased its stake in Macy’s by 6.1% in the second quarter. Wedmont Private Capital now owns 14,403 shares of the company’s stock valued at $275,000 after purchasing an additional 833 shares during the last quarter. Cumberland Advisors Inc. lifted its position in Macy’s by 0.9% during the second quarter. Cumberland Advisors Inc. now owns 117,510 shares of the company’s stock worth $2,256,000 after buying an additional 1,000 shares during the period. Finally, United Services Automobile Association boosted its stake in Macy’s by 4.8% in the 2nd quarter. United Services Automobile Association now owns 22,038 shares of the company’s stock worth $423,000 after buying an additional 1,012 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Trading Up 4.3 %

NYSE:M opened at $16.94 on Tuesday. The company has a market capitalization of $4.70 billion, a P/E ratio of 26.47 and a beta of 2.11. The stock’s 50 day moving average price is $15.53 and its 200 day moving average price is $16.69. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. Macy’s, Inc. has a 52 week low of $14.06 and a 52 week high of $22.10.

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 paid a dividend of $0.1737 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.10%. Macy’s’s dividend payout ratio (DPR) is 107.81%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on M. Telsey Advisory Group reaffirmed a “market perform” rating and set a $17.00 price objective on shares of Macy’s in a research note on Tuesday, November 26th. Morgan Stanley dropped their price target 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 raised shares of Macy’s from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. Finally, Argus raised shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Macy’s currently has a consensus rating of “Hold” and an average price target of $19.86.

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.