PVG Asset Management Corp raised its position in Macy’s Inc (NYSE:M) by 20.4% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 264,718 shares of the company’s stock after buying an additional 44,765 shares during the period. Macy’s comprises approximately 2.5% of PVG Asset Management Corp’s holdings, making the stock its 10th largest holding. PVG Asset Management Corp owned about 0.09% of Macy’s worth $5,776,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Macy’s by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,623 shares of the company’s stock worth $526,000 after purchasing an additional 65 shares during the last quarter. Sentry Investment Management LLC boosted its position in shares of Macy’s by 1.0% in the 2nd quarter. Sentry Investment Management LLC now owns 23,637 shares of the company’s stock worth $549,000 after purchasing an additional 245 shares during the last quarter. State of Tennessee Treasury Department boosted its position in shares of Macy’s by 0.3% in the 2nd quarter. State of Tennessee Treasury Department now owns 83,286 shares of the company’s stock worth $1,936,000 after purchasing an additional 289 shares during the last quarter. Thrivent Financial For Lutherans boosted its position in shares of Macy’s by 2.9% in the 2nd quarter. Thrivent Financial For Lutherans now owns 11,568 shares of the company’s stock worth $269,000 after purchasing an additional 330 shares during the last quarter. Finally, Vantage Financial Partners Ltd. Inc. bought a new position in shares of Macy’s in the 2nd quarter worth $335,000. Hedge funds and other institutional investors own 82.29% of the company’s stock.
Several research analysts have recently issued reports on M shares. Susquehanna Bancshares set a $38.00 price target on Macy’s and gave the stock a “buy” rating in a research report on Friday, October 20th. Citigroup lowered Macy’s from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $21.00 to $16.00 in a research report on Monday, October 30th. Royal Bank of Canada set a $21.00 price objective on Macy’s and gave the stock a “sector perform” rating in a research note on Friday, October 20th. Zacks Investment Research downgraded Macy’s from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $36.00 price objective on shares of Macy’s in a research note on Thursday, November 2nd. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $25.41.
Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, November 9th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.04. Macy’s had a return on equity of 21.20% and a net margin of 2.83%. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter last year, the business posted $0.17 EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. equities research analysts predict that Macy’s Inc will post 3.39 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be paid a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 5.83%. The ex-dividend date of this dividend is Thursday, December 14th. Macy’s’s dividend payout ratio is 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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