Trade Report: Today, LSV Asset Management Reached $130,751,000 position of Macy’s Inc. (M)

Today, LSV Asset Management Reached $130,751,000 position  of Macy’s Inc. (M)

LSV Asset Management increased its stake in Macy’s Inc. (NYSE:M) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,529,056 shares of the company’s stock after buying an additional 66,000 shares during the period. LSV Asset Management’s holdings in Macy’s were worth $130,751,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Manhattan Co. increased its stake in shares of Macy’s by 56.7% in the second quarter. First Manhattan Co. now owns 4,966 shares of the company’s stock valued at $166,000 after buying an additional 1,796 shares during the period. MAI Capital Management increased its stake in shares of Macy’s by 16.0% in the second quarter. MAI Capital Management now owns 66,893 shares of the company’s stock valued at $2,248,000 after buying an additional 9,228 shares during the period. NN Investment Partners Holdings N.V. increased its stake in shares of Macy’s by 31.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 863,631 shares of the company’s stock valued at $29,025,000 after buying an additional 205,400 shares during the period. Breton Hill Capital Ltd. increased its stake in shares of Macy’s by 25.0% in the second quarter. Breton Hill Capital Ltd. now owns 25,898 shares of the company’s stock valued at $870,000 after buying an additional 5,184 shares during the period. Finally, Creative Planning increased its stake in shares of Macy’s by 4.5% in the second quarter. Creative Planning now owns 14,694 shares of the company’s stock valued at $494,000 after buying an additional 637 shares during the period. 85.30% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Macy’s Inc. (NYSE:M) opened at 43.13 on Tuesday. Macy’s Inc. has a 12 month low of $29.94 and a 12 month high of $45.50. The company has a market capitalization of $13.18 billion, a price-to-earnings ratio of 19.63 and a beta of 0.77. The firm’s 50-day moving average price is $38.65 and its 200-day moving average price is $35.96.

Macy’s (NYSE:M) last announced its earnings results on Thursday, November 10th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by $0.24. Macy’s had a net margin of 2.63% and a return on equity of 24.83%. The firm had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same period in the previous year, the company earned $0.56 EPS. Macy’s’s revenue was down 4.2% compared to the same quarter last year. Equities research analysts expect that Macy’s Inc. will post $3.29 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 15th will be issued a dividend of $0.3775 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 3.50%. Macy’s’s payout ratio is currently 69.27%.

M has been the topic of several recent analyst reports. Goldman Sachs Group Inc. reissued a “neutral” rating and set a $34.00 target price on shares of Macy’s in a research note on Monday, August 1st. Vetr raised Macy’s from a “hold” rating to a “buy” rating and set a $35.17 target price on the stock in a research note on Tuesday, August 2nd. Zacks Investment Research downgraded Macy’s from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Stifel Nicolaus reissued a “hold” rating on shares of Macy’s in a research note on Thursday, August 11th. Finally, Telsey Advisory Group lifted their target price on Macy’s from $36.00 to $42.00 and gave the company a “market perform” rating in a research note on Friday, August 12th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $42.73.

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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