B. Riley Wealth Advisors Inc. Decreases Stock Holdings in Macy’s, Inc. (NYSE:M)

B. Riley Wealth Advisors Inc. lessened its stake in shares of Macy’s, Inc. (NYSE:M) by 16.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,594 shares of the company’s stock after selling 2,562 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Macy’s were worth $196,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in M. Retirement Systems of Alabama lifted its position in Macy’s by 57.9% during the third quarter. Retirement Systems of Alabama now owns 782,391 shares of the company’s stock valued at $12,276,000 after purchasing an additional 286,879 shares during the period. PVG Asset Management Corp purchased a new stake in Macy’s during the 3rd quarter valued at $730,000. Wilmington Savings Fund Society FSB bought a new position in shares of Macy’s during the 3rd quarter valued at $221,000. Virtu Financial LLC purchased a new position in shares of Macy’s in the 3rd quarter worth $594,000. Finally, Geode Capital Management LLC grew its holdings in shares of Macy’s by 2.6% in the third quarter. Geode Capital Management LLC now owns 5,023,790 shares of the company’s stock worth $79,110,000 after acquiring an additional 128,258 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on M shares. Morgan Stanley lowered their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. Telsey Advisory Group reissued a “market perform” rating and issued a $17.00 price objective on shares of Macy’s in a report on Wednesday, December 11th. StockNews.com cut shares of Macy’s from a “buy” rating to a “hold” rating in a report on Friday, December 13th. Argus upgraded shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. Finally, Gordon Haskett upgraded Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $18.56.

Macy’s Stock Up 2.5 %

M opened at $16.24 on Monday. Macy’s, Inc. has a fifty-two week low of $14.06 and a fifty-two week high of $22.10. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.34 and a current ratio of 1.26. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 27.53 and a beta of 2.10. The firm’s fifty day moving average is $15.87 and its 200 day moving average is $16.38.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the company earned $0.21 EPS. On average, sell-side analysts forecast that Macy’s, Inc. will post 2.38 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The business 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. This represents a $0.69 annualized dividend and a dividend yield of 4.28%. The ex-dividend date is Friday, December 13th. Macy’s’s payout ratio is currently 116.95%.

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.