Signaturefd LLC Acquires 7,534 Shares of Macy’s, Inc. (NYSE:M)

Signaturefd LLC raised its holdings in Macy’s, Inc. (NYSE:M) by 39.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,748 shares of the company’s stock after buying an additional 7,534 shares during the quarter. Signaturefd LLC’s holdings in Macy’s were worth $420,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. CWM LLC grew its position in shares of 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 buying an additional 598 shares during the last quarter. SummerHaven Investment Management LLC grew its position in shares of Macy’s by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 44,321 shares of the company’s stock worth $851,000 after buying an additional 761 shares during the last quarter. Wedmont Private Capital grew its position in shares of Macy’s by 6.1% in the 2nd quarter. Wedmont Private Capital now owns 14,403 shares of the company’s stock worth $275,000 after buying an additional 833 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Macy’s by 0.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock worth $2,839,000 after buying an additional 877 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake in shares of Macy’s by 9.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 11,800 shares of the company’s stock valued at $236,000 after purchasing an additional 1,000 shares during the period. 87.36% of the stock is currently owned by institutional investors.

Macy’s Stock Down 0.1 %

Shares of NYSE:M opened at $15.40 on Friday. The stock has a fifty day simple moving average of $15.45 and a two-hundred day simple moving average of $17.34. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 513.33 and a beta of 2.11. Macy’s, Inc. has a 12-month low of $10.59 and a 12-month high of $22.10. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70.

Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. The business had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.26 earnings per share. On average, research analysts anticipate that Macy’s, Inc. will post 2.72 earnings per share for the current fiscal year.

Macy’s Announces Dividend

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 $0.1737 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.51%. Macy’s’s dividend payout ratio is currently 2,300.00%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Morgan Stanley lowered their target price on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Telsey Advisory Group restated a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a research note on Wednesday, August 21st. StockNews.com assumed coverage on Macy’s in a research note on Friday. They issued a “hold” rating for the company. Evercore ISI lowered their target price on Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research note on Tuesday, July 16th. Finally, Argus upgraded Macy’s to a “hold” rating in a research note on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Macy’s currently has an average rating of “Hold” and a consensus price target of $20.43.

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.