Point72 DIFC Ltd Buys Shares of 193,247 Macy’s, Inc. (NYSE:M)

Point72 DIFC Ltd purchased a new position in shares of Macy’s, Inc. (NYSE:M) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 193,247 shares of the company’s stock, valued at approximately $3,032,000.

Other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in shares of Macy’s by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 141,529 shares of the company’s stock valued at $2,830,000 after buying an additional 8,403 shares in the last quarter. Tidal Investments LLC purchased a new position in Macy’s during the 1st quarter valued at about $392,000. CWM LLC raised its position in Macy’s by 7.7% during the second quarter. CWM LLC now owns 8,398 shares of the company’s stock worth $161,000 after acquiring an additional 598 shares during the last quarter. OLD National Bancorp IN lifted its holdings in shares of Macy’s by 2.3% in the second quarter. OLD National Bancorp IN now owns 88,000 shares of the company’s stock valued at $1,690,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Wedmont Private Capital grew its position in shares of Macy’s by 6.1% in the second quarter. Wedmont Private Capital now owns 14,403 shares of the company’s stock valued at $275,000 after purchasing an additional 833 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Wall Street Analysts Forecast Growth

M has been the subject of several research reports. Argus upgraded Macy’s to a “hold” rating in a research report on Thursday, October 10th. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. Morgan Stanley dropped their price objective on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $19.86.

Macy’s Stock Performance

Shares of M stock opened at $16.48 on Wednesday. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 25.75 and a beta of 2.11. The company has a 50 day moving average price of $15.60 and a 200 day moving average price of $16.65. Macy’s, Inc. has a one year low of $14.06 and a one year high of $22.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48.

Macy’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Friday, December 13th. Macy’s’s payout ratio is currently 107.81%.

Macy’s Profile

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.