Able Wealth Management LLC Buys Shares of 12,951 Macy’s, Inc. (NYSE:M)

by · The Cerbat Gem

Able Wealth Management LLC purchased a new stake in Macy’s, Inc. (NYSE:M – Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 12,951 shares of the company’s stock, valued at approximately $203,000.

A number of other hedge funds also recently bought and sold shares of the stock. Future Financial Wealth Managment LLC purchased a new stake in shares of Macy’s during the third quarter valued at about $39,000. EntryPoint Capital LLC bought a new position in shares of Macy’s during the 1st quarter worth approximately $51,000. Abich Financial Wealth Management LLC purchased a new stake in Macy’s during the second quarter valued at approximately $57,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Macy’s during the second quarter valued at approximately $62,000. Finally, Blue Trust Inc. boosted its stake in Macy’s by 619.1% in the third quarter. Blue Trust Inc. now owns 4,868 shares of the company’s stock valued at $76,000 after acquiring an additional 4,191 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Morgan Stanley lowered their price target on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Argus raised shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $21.00 price target on shares of Macy’s in a report on Wednesday, August 21st. Evercore ISI dropped their price target on Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 16th. Finally, StockNews.com started coverage on Macy’s in a research note on Saturday, November 2nd. They issued a “hold” rating for the company. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.43.

View Our Latest Report on Macy’s

Macy’s Price Performance

Shares of NYSE M opened at $15.65 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. The firm has a market cap of $4.34 billion, a PE ratio of 24.45 and a beta of 2.11. Macy’s, Inc. has a one year low of $10.59 and a one year high of $22.10. The firm has a fifty day moving average of $15.37 and a 200 day moving average of $17.09.

Macy’s (NYSE:M – Get Free Report) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.30 by $0.23. The company had revenue of $4.94 billion during the quarter, compared to analyst estimates of $5.06 billion. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. Macy’s’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.26 EPS. As a group, research analysts predict that Macy’s, Inc. will post 2.72 EPS for the current fiscal year.

Macy’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date is Friday, December 13th. Macy’s’s dividend payout ratio (DPR) is 107.81%.

About Macy’s

(Free Report)

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.

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