Legal & General Group Plc Has $44.48 Million Position in Macy’s Inc (M)
Legal & General Group Plc lifted its position in Macy’s Inc (NYSE:M) by 4.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,037,917 shares of the company’s stock after acquiring an additional 82,642 shares during the period. Legal & General Group Plc owned approximately 0.67% of Macy’s worth $44,480,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Macy’s by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 30,612,902 shares of the company’s stock worth $711,444,000 after buying an additional 618,535 shares during the period. BlackRock Inc. raised its holdings in Macy’s by 3.9% during the 2nd quarter. BlackRock Inc. now owns 25,380,303 shares of the company’s stock worth $589,839,000 after buying an additional 963,487 shares during the period. Bank of New York Mellon Corp raised its holdings in Macy’s by 14.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,325,701 shares of the company’s stock worth $181,666,000 after buying an additional 1,076,502 shares during the period. Dimensional Fund Advisors LP raised its holdings in Macy’s by 26.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,323,131 shares of the company’s stock worth $123,703,000 after buying an additional 1,117,903 shares during the period. Finally, Prudential Financial Inc. raised its holdings in 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 buying an additional 2,153,110 shares during the period. Institutional investors and hedge funds own 82.27% of the company’s stock.
Macy’s Inc (NYSE M) traded down $0.13 during midday trading on Thursday, hitting $25.09. 12,347,600 shares of the stock were exchanged, compared to its average volume of 10,193,630. The company has a quick ratio of 0.19, a current ratio of 1.29 and a debt-to-equity ratio of 1.49. Macy’s Inc has a 12 month low of $17.41 and a 12 month high of $43.79. The firm has a market capitalization of $7,681.17, a P/E ratio of 8.49, a PEG ratio of 0.87 and a beta of 0.97.
The company also recently announced 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 6.02%. Macy’s’s dividend payout ratio is presently 66.52%.
Several analysts have commented on M shares. Susquehanna Bancshares set a $38.00 target price on shares of Macy’s and gave the stock a “buy” rating in a report on Friday, October 20th. Citigroup downgraded shares of Macy’s from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $21.00 to $16.00 in a report on Monday, October 30th. Royal Bank Of Canada set a $21.00 target price on shares of Macy’s and gave the stock a “sector perform” rating in a report on Friday, October 20th. Zacks Investment Research downgraded shares of Macy’s from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $36.00 price objective on shares of Macy’s in a report on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $25.41.
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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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