Nisa Investment Advisors LLC Has $378,000 Stake in Macy’s, Inc. (NYSE:M)

Nisa Investment Advisors LLC cut its stake in Macy’s, Inc. (NYSE:M) by 28.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,805 shares of the company’s stock after selling 9,435 shares during the period. Nisa Investment Advisors LLC’s holdings in Macy’s were worth $378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its position in Macy’s by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 31,911 shares of the company’s stock worth $500,000 after acquiring an additional 2,175 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Macy’s by 8.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 23,399 shares of the company’s stock worth $367,000 after purchasing an additional 1,866 shares during the last quarter. PFG Investments LLC bought a new position in Macy’s in the third quarter valued at $168,000. Highland Capital Management LLC increased its stake in Macy’s by 104.9% in the 3rd quarter. Highland Capital Management LLC now owns 22,644 shares of the company’s stock valued at $355,000 after buying an additional 11,594 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Macy’s during the 3rd quarter worth about $1,407,000. Institutional investors own 87.36% of the company’s stock.

Macy’s Price Performance

Shares of M opened at $15.30 on Wednesday. The firm has a market capitalization of $4.24 billion, a PE ratio of 23.94 and a beta of 2.11. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34. The company’s 50-day moving average is $15.34 and its 200-day moving average is $17.15. Macy’s, Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $22.10.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.23. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The firm had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same period last year, the business posted $0.26 earnings per share. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. Equities analysts forecast that Macy’s, Inc. will post 2.72 EPS for the current year.

Macy’s Dividend Announcement

The company 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. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend is Friday, December 13th. Macy’s’s dividend payout ratio is currently 107.81%.

Analyst Upgrades and Downgrades

M has been the subject of several analyst reports. StockNews.com assumed coverage on Macy’s in a report on Saturday. They issued a “hold” rating for the company. Morgan Stanley lowered their price target on Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. Telsey Advisory Group reissued a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a report on Wednesday, August 21st. Argus upgraded shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. Finally, Evercore ISI dropped their price target on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 16th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Macy’s currently has a consensus rating of “Hold” and a consensus target price of $20.43.

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.