Factorial Partners LLC Raises Position in Macy’s, Inc. (NYSE:M)

Factorial Partners LLC lifted its position in shares of Macy’s, Inc. (NYSE:M) by 36.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,000 shares of the company’s stock after acquiring an additional 18,000 shares during the period. Factorial Partners LLC’s holdings in Macy’s were worth $1,067,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC bought a new stake in shares of Macy’s in the 3rd quarter worth $35,000. Venturi Wealth Management LLC raised its stake 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 buying an additional 1,685 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Macy’s during the 3rd quarter valued at $39,000. EntryPoint Capital LLC purchased a new stake in Macy’s during the first quarter valued at $51,000. Finally, Abich Financial Wealth Management LLC bought a new position in Macy’s in the second quarter valued at about $57,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Macy’s Stock Down 0.8 %

Shares of NYSE:M opened at $15.14 on Wednesday. The firm has a market capitalization of $4.20 billion, a PE ratio of 23.65 and a beta of 2.11. The business has a 50 day simple moving average of $15.42 and a two-hundred day simple moving average of $16.90. Macy’s, Inc. has a 1 year low of $14.06 and a 1 year high of $22.10. 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 (NYSE:M) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The company had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter in the previous year, the business earned $0.26 EPS. Macy’s’s revenue was down 3.8% compared to the same quarter last year. On average, equities analysts predict that Macy’s, Inc. will post 2.72 EPS for the current year.

Macy’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.1737 dividend. This represents a $0.69 annualized dividend and a yield of 4.59%. The ex-dividend date is Friday, December 13th. Macy’s’s dividend payout ratio is presently 107.81%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on M shares. StockNews.com started coverage on shares of Macy’s in a report on Sunday, November 10th. They set a “hold” rating for the company. Argus upgraded shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. Telsey Advisory Group restated a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research report on Wednesday, August 21st. Finally, Morgan Stanley dropped their price target on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently 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.