27,662 Shares in Macy’s, Inc. (NYSE:M) Acquired by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd purchased a new stake in Macy’s, Inc. (NYSE:MFree Report) during the third quarter, HoldingsChannel.com reports. The fund purchased 27,662 shares of the company’s stock, valued at approximately $434,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Marshall Wace LLP lifted its position in shares of Macy’s by 1,539.5% during the 2nd quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock worth $67,871,000 after purchasing an additional 3,319,337 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Macy’s by 9.8% during the second quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company’s stock worth $297,385,000 after buying an additional 1,379,476 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Macy’s by 18.9% in the second quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock valued at $90,333,000 after acquiring an additional 747,542 shares during the period. Alden Global Capital LLC boosted its position in shares of Macy’s by 56.1% in the second quarter. Alden Global Capital LLC now owns 606,741 shares of the company’s stock valued at $11,649,000 after acquiring an additional 218,146 shares during the period. Finally, FMR LLC grew its stake in shares of Macy’s by 4.4% in the third quarter. FMR LLC now owns 4,691,591 shares of the company’s stock worth $73,611,000 after acquiring an additional 195,880 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on M. Telsey Advisory Group reiterated a “market perform” rating and set a $17.00 target price on shares of Macy’s in a research note on Tuesday, November 26th. Argus raised shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Morgan Stanley decreased their target price on Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. Finally, StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.86.

Get Our Latest Stock Analysis on Macy’s

Macy’s Stock Performance

NYSE:M opened at $16.94 on Tuesday. The firm has a market capitalization of $4.70 billion, a PE ratio of 26.47 and a beta of 2.11. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. Macy’s, Inc. has a 12-month low of $14.06 and a 12-month high of $22.10. The firm has a 50-day moving average price of $15.53 and a 200 day moving average price of $16.69.

Macy’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend yield of 4.10%. Macy’s’s payout ratio is presently 107.81%.

Macy’s Company Profile

(Free Report)

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.

Further Reading

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

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