Barings LLC Buys 59,400 Shares of Macy’s Inc (M)
Barings LLC boosted its holdings in shares of Macy’s Inc (NYSE:M) by 137.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,535 shares of the company’s stock after purchasing an additional 59,400 shares during the period. Barings LLC’s holdings in Macy’s were worth $2,237,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Voya Investment Management LLC increased its holdings in Macy’s by 163.1% during the 2nd quarter. Voya Investment Management LLC now owns 451,225 shares of the company’s stock valued at $10,487,000 after purchasing an additional 279,720 shares during the period. Douglas Lane & Associates LLC grew its holdings in shares of Macy’s by 57.8% during the 3rd quarter. Douglas Lane & Associates LLC now owns 2,243,096 shares of the company’s stock worth $48,944,000 after acquiring an additional 821,366 shares during the period. Neuberger Berman Group LLC grew its holdings in shares of Macy’s by 48.4% during the 2nd quarter. Neuberger Berman Group LLC now owns 928,351 shares of the company’s stock worth $21,575,000 after acquiring an additional 302,628 shares during the period. Prudential Financial Inc. grew its holdings in shares of Macy’s by 75.3% during the 3rd quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company’s stock worth $109,392,000 after acquiring an additional 2,153,110 shares during the period. Finally, Commonwealth Bank of Australia grew its holdings in shares of Macy’s by 27.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 140,199 shares of the company’s stock worth $3,257,000 after acquiring an additional 30,500 shares during the period. Institutional investors own 82.20% of the company’s stock.
Shares of Macy’s Inc (NYSE M) opened at $24.19 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.29 and a quick ratio of 0.19. The firm has a market capitalization of $7,249.48, a P/E ratio of 8.01, a P/E/G ratio of 0.82 and a beta of 0.96. Macy’s Inc has a 52 week low of $17.41 and a 52 week high of $43.79.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a $0.3775 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.51 annualized dividend and a dividend yield of 6.24%. Macy’s’s payout ratio is currently 66.52%.
M has been the topic of a number of research analyst reports. Deutsche Bank upped their target price on Macy’s from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Tuesday, August 8th. Zacks Investment Research downgraded Macy’s from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. BMO Capital Markets set a $36.00 target price on Macy’s and gave the stock a “buy” rating in a report on Friday, August 11th. Royal Bank Of Canada set a $23.00 target price on Macy’s and gave the stock a “hold” rating in a report on Friday, August 11th. Finally, Credit Suisse Group reduced their target price on Macy’s from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $25.37.
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Macy’s Company Profile
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
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