Crossmark Global Holdings Inc. Raises Stake in Macy’s, Inc. (NYSE:M)

Crossmark Global Holdings Inc. boosted its holdings in shares of Macy’s, Inc. (NYSE:M) by 9.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 240,263 shares of the company’s stock after buying an additional 21,500 shares during the quarter. Crossmark Global Holdings Inc. owned 0.09% of Macy’s worth $3,770,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Future Financial Wealth Managment LLC acquired a new stake in Macy’s during the third quarter worth about $39,000. EntryPoint Capital LLC purchased a new stake in Macy’s in the 1st quarter worth approximately $51,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Macy’s during the 2nd quarter worth approximately $57,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Macy’s during the 2nd quarter valued at approximately $62,000. Finally, Blue Trust Inc. lifted its stake in shares of Macy’s by 619.1% in the 3rd quarter. Blue Trust Inc. now owns 4,868 shares of the company’s stock valued at $76,000 after purchasing an additional 4,191 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy’s Stock Performance

Shares of NYSE:M opened at $15.34 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34. Macy’s, Inc. has a 1 year low of $10.59 and a 1 year high of $22.10. The firm has a market capitalization of $4.25 billion, a PE ratio of 23.97 and a beta of 2.11. The business’s 50 day moving average price is $15.37 and its 200-day moving average price is $17.04.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.23. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The company had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter in the previous year, the company posted $0.26 EPS. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. As a group, equities research analysts expect that Macy’s, Inc. will post 2.72 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a $0.1737 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a yield of 4.53%. Macy’s’s payout ratio is 107.81%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on M shares. Evercore ISI decreased their price objective on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research report on Tuesday, July 16th. Morgan Stanley reduced their price target on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Argus raised Macy’s to a “hold” rating in a report on Thursday, October 10th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 target price on shares of Macy’s in a research note on Wednesday, August 21st. Finally, StockNews.com initiated coverage on shares of Macy’s in a research note on Sunday. They issued a “hold” rating on the stock. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.43.

Macy’s Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.