Vident Investment Advisory LLC Acquires Shares of 24,889 Macy’s Inc (M)

Vident Investment Advisory LLC acquired a new position in shares of Macy’s Inc (NYSE:M) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 24,889 shares of the company’s stock, valued at approximately $543,000.

Other institutional investors have also made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. bought a new stake in shares of Macy’s in the second quarter valued at about $335,000. Ffcm LLC boosted its position in shares of Macy’s by 251.6% in the second quarter. Ffcm LLC now owns 5,052 shares of the company’s stock valued at $120,000 after acquiring an additional 3,615 shares during the period. Penserra Capital Management LLC boosted its position in shares of Macy’s by 51.1% in the second quarter. Penserra Capital Management LLC now owns 5,560 shares of the company’s stock valued at $129,000 after acquiring an additional 1,880 shares during the period. Kistler Tiffany Companies LLC bought a new stake in shares of Macy’s in the third quarter valued at about $148,000. Finally, IFP Advisors Inc boosted its position in shares of Macy’s by 62.9% in the third quarter. IFP Advisors Inc now owns 7,981 shares of the company’s stock valued at $174,000 after acquiring an additional 3,083 shares during the period. 82.29% of the stock is owned by institutional investors.

Macy’s Inc (NYSE M) opened at $24.59 on Friday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.19 and a current ratio of 1.29. The company has a market capitalization of $7,489.28, a PE ratio of 8.28, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97. Macy’s Inc has a 52 week low of $17.41 and a 52 week high of $39.78.

Macy’s (NYSE:M) last issued its earnings results on Thursday, November 9th. The company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.04. The firm had revenue of $5.28 billion during 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%. The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 earnings per share. sell-side analysts forecast that Macy’s Inc will post 3.39 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be paid a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a yield of 6.14%. The ex-dividend date is Thursday, December 14th. Macy’s’s payout ratio is 66.52%.

A number of research analysts recently commented on the company. Cowen reaffirmed a “hold” rating and issued a $23.00 price target on shares of Macy’s in a research note on Thursday, September 28th. Zacks Investment Research downgraded Macy’s from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. Guggenheim reaffirmed a “buy” rating and issued a $27.00 price target on shares of Macy’s in a research note on Friday. Royal Bank of Canada set a $21.00 price target on Macy’s and gave the company a “sector perform” rating in a research note on Friday, October 20th. Finally, BidaskClub raised Macy’s from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $25.46.

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Macy’s Company Profile

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.

Institutional Ownership by Quarter for Macy`s (NYSE:M)

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