Lido Advisors LLC acquired a new stake in Macy’s Inc (NYSE:M) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 32,447 shares of the company’s stock, valued at approximately $608,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in M. Louisiana State Employees Retirement System grew its stake in Macy’s by 1.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the company’s stock worth $439,000 after buying an additional 200 shares during the last quarter. Strs Ohio grew its stake in Macy’s by 23.6% during the 2nd quarter. Strs Ohio now owns 47,456 shares of the company’s stock worth $1,102,000 after buying an additional 9,065 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its stake in Macy’s by 60.7% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 15,960 shares of the company’s stock worth $371,000 after buying an additional 6,030 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in Macy’s by 63.7% during the 2nd quarter. Great West Life Assurance Co. Can now owns 452,086 shares of the company’s stock worth $10,487,000 after buying an additional 175,997 shares during the last quarter. Finally, Sei Investments Co. grew its stake in Macy’s by 29.8% during the 2nd quarter. Sei Investments Co. now owns 16,047 shares of the company’s stock worth $373,000 after buying an additional 3,682 shares during the last quarter. Institutional investors and hedge funds own 82.27% of the company’s stock.
Macy’s Inc (M) traded down $0.46 on Tuesday, hitting $25.34. The stock had a trading volume of 7,681,121 shares, compared to its average volume of 10,158,675. The company has a quick ratio of 0.19, a current ratio of 1.29 and a debt-to-equity ratio of 1.49. The firm has a market cap of $7,368.27, a PE ratio of 8.14, a P/E/G ratio of 0.84 and a beta of 0.97. Macy’s Inc has a 1-year low of $17.41 and a 1-year high of $43.79.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.51 annualized dividend and a dividend yield of 5.96%. Macy’s’s dividend payout ratio is currently 66.52%.
A number of analysts have weighed in on M shares. BMO Capital Markets set a $36.00 price objective on Macy’s and gave the stock a “buy” rating in a research report on Friday, August 11th. ValuEngine raised Macy’s from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Susquehanna Bancshares set a $38.00 price objective on Macy’s and gave the stock a “buy” rating in a research report on Friday, October 20th. Canaccord Genuity reaffirmed a “buy” rating and set a $9.50 price objective on shares of Macy’s in a research report on Thursday, November 16th. Finally, Vetr cut Macy’s from a “strong-buy” rating to a “buy” rating and set a $27.26 price objective for the company. in a research report on Monday. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $25.41.
WARNING: This article was originally reported by Community Financial News and is owned by of Community Financial News. If you are accessing this article on another publication, it was illegally copied and republished in violation of US & international copyright & trademark law. The original version of this article can be viewed at https://www.com-unik.info/2017/12/05/lido-advisors-llc-invests-608000-in-macys-inc-m.html.
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
Want to see what other hedge funds are holding M? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macy’s Inc (NYSE:M).
What are top analysts saying about Macy's Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Macy's Inc and related companies.