Wilmington Savings Fund Society FSB Buys Shares of 14,103 Macy’s, Inc. (NYSE:M)

Wilmington Savings Fund Society FSB purchased a new position in shares of Macy’s, Inc. (NYSE:M) in the third quarter, HoldingsChannel.com reports. The fund purchased 14,103 shares of the company’s stock, valued at approximately $221,000.

Several other large investors have also made changes to their positions in M. Nisa Investment Advisors LLC lifted its stake in Macy’s by 589.6% during the second quarter. Nisa Investment Advisors LLC now owns 33,240 shares of the company’s stock worth $645,000 after purchasing an additional 28,420 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Macy’s by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,185,513 shares of the company’s stock worth $61,162,000 after buying an additional 37,254 shares in the last quarter. Bailard Inc. lifted its position in shares of Macy’s by 64.4% during the 2nd quarter. Bailard Inc. now owns 32,953 shares of the company’s stock worth $633,000 after buying an additional 12,913 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Macy’s by 33.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 213,218 shares of the company’s stock valued at $4,094,000 after buying an additional 53,471 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Macy’s by 3.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,968 shares of the company’s stock valued at $1,132,000 after acquiring an additional 2,227 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Trading Down 5.3 %

Shares of M stock opened at $15.85 on Thursday. 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. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 26.86 and a beta of 2.10. The stock has a 50-day moving average of $15.85 and a 200-day moving average of $16.42.

Macy’s (NYSE:M) last released its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.74 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 EPS. On average, equities research analysts forecast that Macy’s, Inc. will post 2.38 earnings per share 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 annualized dividend and a yield of 4.38%. Macy’s’s payout ratio is 116.95%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on M shares. Morgan Stanley reduced their price target on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 12th. Argus upgraded shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. UBS Group lowered their price target on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a report on Thursday, December 12th. Telsey Advisory Group reissued a “market perform” rating and set a $17.00 price objective on shares of Macy’s in a report on Wednesday, December 11th. Finally, Gordon Haskett raised Macy’s from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Macy’s currently has an average rating of “Hold” and a consensus price target of $18.56.

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.