Wilmington Savings Fund Society FSB Makes New Investment in Macy’s, Inc. (NYSE:M)

Wilmington Savings Fund Society FSB purchased a new position in shares of Macy’s, Inc. (NYSE:M) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,103 shares of the company’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in M. Nisa Investment Advisors LLC grew its holdings in shares of Macy’s by 589.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 33,240 shares of the company’s stock valued at $645,000 after acquiring an additional 28,420 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Macy’s by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 3,185,513 shares of the company’s stock valued at $61,162,000 after purchasing an additional 37,254 shares in the last quarter. Bailard Inc. increased its position in shares of Macy’s by 64.4% during the 2nd quarter. Bailard Inc. now owns 32,953 shares of the company’s stock worth $633,000 after purchasing an additional 12,913 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Macy’s by 33.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 213,218 shares of the company’s stock worth $4,094,000 after purchasing an additional 53,471 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Macy’s by 3.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,968 shares of the company’s stock valued at $1,132,000 after buying an additional 2,227 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, December 13th. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Telsey Advisory Group reiterated a “market perform” rating and set a $17.00 price target on shares of Macy’s in a report on Wednesday, December 11th. Argus raised Macy’s to a “hold” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley cut their price objective on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Macy’s presently has a consensus rating of “Hold” and an average price target of $18.56.

Macy’s Stock Performance

M opened at $15.85 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.34. The business has a fifty day simple moving average of $15.85 and a 200 day simple moving average of $16.42. Macy’s, Inc. has a 1 year low of $14.06 and a 1 year high of $22.10. The company has a market capitalization of $4.40 billion, a PE ratio of 26.86 and a beta of 2.10.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the firm posted $0.21 EPS. The company’s revenue was down 2.4% compared to the same quarter last year. Research analysts expect that Macy’s, Inc. will post 2.38 EPS for the current year.

Macy’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.1737 per share. The ex-dividend date is Friday, December 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.38%. Macy’s’s dividend payout ratio is presently 116.95%.

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.