KBC Group NV Purchases 1,319 Shares of Macy’s, Inc. (NYSE:M)

KBC Group NV lifted its holdings in shares of Macy’s, Inc. (NYSE:M) by 19.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,952 shares of the company’s stock after purchasing an additional 1,319 shares during the period. KBC Group NV’s holdings in Macy’s were worth $125,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC lifted its holdings in Macy’s by 282.7% in the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after buying an additional 1,685 shares during the period. Future Financial Wealth Managment LLC bought a new position in shares of Macy’s in the 3rd quarter worth $39,000. EntryPoint Capital LLC acquired a new stake in shares of Macy’s during the first quarter worth $51,000. Abich Financial Wealth Management LLC bought a new stake in Macy’s in the second quarter valued at about $57,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Macy’s in the second quarter valued at about $62,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Trading Up 3.4 %

Shares of NYSE:M opened at $15.05 on Friday. Macy’s, Inc. has a 52-week low of $14.06 and a 52-week 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. The company has a market capitalization of $4.17 billion, a P/E ratio of 23.52 and a beta of 2.11. The company has a 50-day simple moving average of $15.42 and a 200 day simple moving average of $16.87.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.23. The company had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. Macy’s’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 EPS. Sell-side analysts forecast that Macy’s, Inc. will post 2.7 earnings per share for the current year.

Macy’s Announces Dividend

The company also recently disclosed 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 4.62%. The ex-dividend date of this dividend is Friday, December 13th. Macy’s’s dividend payout ratio is presently 107.81%.

Wall Street Analysts Forecast Growth

M has been the topic of several recent analyst reports. Argus raised shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. Morgan Stanley reduced their price target on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. 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. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 target price on shares of Macy’s in a report on Wednesday, August 21st. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Macy’s presently has a consensus rating of “Hold” and a consensus target price of $20.43.

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.