Y Intercept Hong Kong Ltd Decreases Stock Position in Macy’s, Inc. (NYSE:M)

Y Intercept Hong Kong Ltd cut its stake in shares of Macy’s, Inc. (NYSE:M) by 18.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,942 shares of the company’s stock after selling 4,660 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Macy’s were worth $313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of M. Quest Partners LLC bought a new position in shares of Macy’s during the third quarter valued at about $35,000. Venturi Wealth Management LLC increased its holdings in Macy’s by 282.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after purchasing an additional 1,685 shares during the period. Future Financial Wealth Managment LLC bought a new position in Macy’s during the 3rd quarter valued at approximately $39,000. Abich Financial Wealth Management LLC bought a new position in Macy’s during the 2nd quarter valued at approximately $57,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Macy’s in the 2nd quarter worth approximately $62,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Macy’s Stock Up 0.1 %

M opened at $16.73 on Wednesday. The firm’s 50 day simple moving average is $15.85 and its two-hundred day simple moving average is $16.42. The company has a market capitalization of $4.64 billion, a PE ratio of 28.36 and a beta of 2.10. Macy’s, Inc. has a 1-year low of $14.06 and a 1-year high of $22.10. The company has a current ratio of 1.26, a quick ratio of 0.34 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The company had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 EPS. As a group, equities analysts forecast that Macy’s, Inc. will post 2.38 EPS for the current year.

Macy’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.1737 dividend. This represents a $0.69 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend is Friday, December 13th. Macy’s’s dividend payout ratio is currently 116.95%.

Wall Street Analyst Weigh In

Several brokerages have commented on M. Guggenheim restated a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. UBS Group lowered their target price on Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research note on Thursday, December 12th. Telsey Advisory Group restated a “market perform” rating and set a $17.00 target price on shares of Macy’s in a report on Wednesday, December 11th. StockNews.com cut shares of Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, December 13th. Finally, Argus upgraded shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Macy’s has an average rating of “Hold” and a consensus target price of $18.56.

Macy’s Company 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.