1,815,720 Shares in Macy's Inc (M) Purchased by QV Investors Inc.
QV Investors Inc. bought a new stake in Macy's Inc (NYSE:M) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,815,720 shares of the company’s stock, valued at approximately $45,737,000. Macy's accounts for about 3.6% of QV Investors Inc.’s portfolio, making the stock its 12th largest holding.
Other hedge funds have also modified their holdings of the company. Kistler Tiffany Companies LLC purchased a new stake in Macy's during the 3rd quarter worth $148,000. IFP Advisors Inc increased its stake in Macy's by 62.9% during the 3rd quarter. IFP Advisors Inc now owns 7,981 shares of the company’s stock worth $174,000 after buying an additional 3,083 shares during the period. Bristol Advisors LLC purchased a new stake in Macy's during the 4th quarter worth $224,000. IFM Investors Pty Ltd purchased a new stake in Macy's during the 3rd quarter worth $200,000. Finally, Gofen & Glossberg LLC IL purchased a new stake in Macy's during the 4th quarter worth $234,000. 82.37% of the stock is currently owned by institutional investors and hedge funds.
Macy's Inc (NYSE M) traded up $0.14 during midday trading on Tuesday, hitting $27.40. 4,324,435 shares of the stock traded hands, compared to its average volume of 13,626,107. Macy's Inc has a 1-year low of $17.41 and a 1-year high of $34.37. 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 cap of $8,310.00, a price-to-earnings ratio of 12.07, a PEG ratio of 0.87 and a beta of 0.97.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th were issued a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 5.51%. The ex-dividend date of this dividend was Thursday, December 14th. Macy's’s dividend payout ratio (DPR) is presently 66.52%.
Several research analysts have weighed in on M shares. Cowen reissued a “hold” rating and set a $23.00 price objective on shares of Macy's in a report on Thursday, September 28th. ValuEngine raised shares of Macy's from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research lowered shares of Macy's from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Susquehanna Bancshares set a $38.00 price objective on shares of Macy's and gave the stock a “buy” rating in a report on Friday, October 20th. Finally, Royal Bank of Canada set a $21.00 price objective on shares of Macy's and gave the stock a “sector perform” rating in a report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $26.27.
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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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