Highland Capital Management LLC Grows Stock Position in Macy’s, Inc. (NYSE:M)

Highland Capital Management LLC lifted its stake in shares of Macy’s, Inc. (NYSE:M) by 104.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,644 shares of the company’s stock after purchasing an additional 11,594 shares during the quarter. Highland Capital Management LLC’s holdings in Macy’s were worth $355,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings 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 acquiring an additional 1,379,476 shares during the period. LSV Asset Management grew its holdings 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 acquiring an additional 68,300 shares during the period. American Century Companies Inc. grew its holdings 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 acquiring an additional 747,542 shares during the period. Marshall Wace LLP grew its holdings 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 acquiring an additional 3,319,337 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings 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 acquiring an additional 37,254 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on M shares. Morgan Stanley lowered their target price on Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Argus raised Macy’s to a “hold” rating in a report on Thursday, October 10th. StockNews.com started coverage on Macy’s in a report on Friday. They issued a “hold” rating on the stock. Telsey Advisory Group reissued a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a report on Wednesday, August 21st. Finally, Evercore ISI lowered their target price on Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a report on Tuesday, July 16th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Macy’s has an average rating of “Hold” and an average target price of $20.43.

Macy’s Stock Down 0.1 %

M opened at $15.39 on Monday. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The firm has a market cap of $4.25 billion, a P/E ratio of 513.00 and a beta of 2.11. Macy’s, Inc. has a 52 week low of $10.59 and a 52 week high of $22.10. The business’s fifty day simple moving average is $15.45 and its 200 day simple moving average is $17.31.

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 return on equity of 23.14% and a net margin of 0.80%. The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter last year, the company earned $0.26 earnings per share. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Macy’s, Inc. will post 2.72 EPS for the current fiscal year.

Macy’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a yield of 4.51%. Macy’s’s dividend payout ratio (DPR) is presently 2,300.00%.

Macy’s 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.