TCW Group Inc. purchased a new stake in Macy's Inc (NYSE:M) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,702 shares of the company’s stock, valued at approximately $547,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp increased its position in Macy's by 28.0% during the 4th quarter. Bank of New York Mellon Corp now owns 10,653,773 shares of the company’s stock worth $268,367,000 after buying an additional 2,328,072 shares during the period. Prudential Financial Inc. increased its position in Macy's by 75.3% during the 3rd quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company’s stock worth $109,392,000 after buying an additional 2,153,110 shares during the period. Alps Advisors Inc. bought a new position in Macy's during the 3rd quarter worth $46,431,000. QV Investors Inc. bought a new position in Macy's during the 4th quarter worth $45,737,000. Finally, Hexavest Inc. bought a new position in Macy's during the 4th quarter worth $42,332,000. Institutional investors and hedge funds own 88.32% of the company’s stock.
Several research analysts have weighed in on the company. Guggenheim reiterated a “buy” rating and set a $27.00 price objective on shares of Macy's in a research report on Friday, December 15th. BMO Capital Markets set a $35.00 price objective on Macy's and gave the stock a “buy” rating in a research report on Sunday, November 12th. ValuEngine cut Macy's from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Vetr upgraded Macy's from a “buy” rating to a “strong-buy” rating and set a $29.84 price objective on the stock in a research report on Tuesday, January 2nd. Finally, Citigroup cut Macy's from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $21.00 to $16.00 in a research report on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $25.52.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be paid a $0.3775 dividend. This represents a $1.51 annualized dividend and a yield of 5.65%. Macy's’s dividend payout ratio (DPR) is presently 66.52%.
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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.
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