NWQ Investment Management Company LLC cut its position in shares of Macy’s Inc (NYSE:M) by 16.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,269,930 shares of the company’s stock after selling 247,901 shares during the period. NWQ Investment Management Company LLC owned approximately 0.42% of Macy’s worth $27,710,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Lido Advisors LLC purchased a new stake in Macy’s during the third quarter valued at approximately $608,000. Caisse DE Depot ET Placement DU Quebec raised its position in Macy’s by 2.0% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 295,190 shares of the company’s stock valued at $6,468,000 after purchasing an additional 5,900 shares during the period. Envestnet Asset Management Inc. raised its position in Macy’s by 105.9% during the third quarter. Envestnet Asset Management Inc. now owns 24,007 shares of the company’s stock valued at $523,000 after purchasing an additional 12,347 shares during the period. Private Advisor Group LLC raised its position in Macy’s by 200.9% during the third quarter. Private Advisor Group LLC now owns 30,218 shares of the company’s stock valued at $615,000 after purchasing an additional 20,176 shares during the period. Finally, CapWealth Advisors LLC purchased a new stake in Macy’s during the third quarter valued at approximately $5,538,000. 82.27% of the stock is owned by institutional investors.
A number of brokerages have issued reports on M. UBS restated a “neutral” rating and set a $21.00 price objective (down from $23.00) on shares of Macy’s in a research report on Monday, August 14th. Jefferies Group restated a “hold” rating and set a $21.00 price objective (down from $24.00) on shares of Macy’s in a research report on Friday, August 11th. BMO Capital Markets set a $36.00 price target on Macy’s and gave the stock a “buy” rating in a report on Friday, August 11th. Cowen reiterated a “hold” rating and issued a $23.00 price target on shares of Macy’s in a report on Thursday, September 28th. Finally, Credit Suisse Group reduced their price target on Macy’s from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 11th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $25.41.
Macy’s (NYSE:M) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. The company had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.31 billion. Macy’s had a return on equity of 21.20% and a net margin of 2.83%. Macy’s’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the business posted $0.17 EPS. equities analysts anticipate that Macy’s Inc will post 3.39 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be issued a dividend of $0.3775 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.51 annualized dividend and a yield of 6.02%. Macy’s’s payout ratio is currently 66.52%.
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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.
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