Gladius Capital Management LP Acquires New Shares in Macy’s, Inc. (NYSE:M)

Gladius Capital Management LP acquired a new position in Macy’s, Inc. (NYSE:M) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,967 shares of the company’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in shares of Macy’s by 9.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company’s stock worth $297,385,000 after purchasing an additional 1,379,476 shares during the period. LSV Asset Management boosted its position in shares of Macy’s by 1.3% during the second quarter. LSV Asset Management now owns 5,374,167 shares of the company’s stock worth $103,184,000 after buying an additional 68,300 shares during the period. American Century Companies Inc. boosted its position in shares of Macy’s by 18.9% during the second quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock worth $90,333,000 after buying an additional 747,542 shares during the period. Marshall Wace LLP grew its stake in shares of Macy’s by 1,539.5% in the second quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock valued at $67,871,000 after buying an additional 3,319,337 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Macy’s by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,185,513 shares of the company’s stock valued at $61,162,000 after buying an additional 37,254 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on M. Morgan Stanley lowered their target price 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 note on Thursday, October 10th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 target price on shares of Macy’s in a research note on Wednesday, August 21st. Finally, StockNews.com began coverage on shares of Macy’s in a research report on Sunday, November 10th. They issued a “hold” rating for the company. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Macy’s currently has an average rating of “Hold” and a consensus price target of $20.43.

Macy’s Stock Down 0.5 %

Shares of Macy’s stock opened at $15.49 on Friday. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. Macy’s, Inc. has a 52-week low of $13.10 and a 52-week high of $22.10. The company has a market capitalization of $4.30 billion, a P/E ratio of 24.20 and a beta of 2.11. The company has a 50 day moving average of $15.39 and a 200 day moving average of $16.96.

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

Macy’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.1737 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.49%. Macy’s’s dividend payout ratio is currently 107.81%.

About Macy’s

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.