nVerses Capital LLC Purchases Shares of 18,500 Macy’s, Inc. (NYSE:M)

nVerses Capital LLC acquired a new position in Macy’s, Inc. (NYSE:M) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 18,500 shares of the company’s stock, valued at approximately $290,000.

Other large investors have also made changes to their positions in the company. Riverview Trust Co bought a new position in Macy’s in the 1st quarter worth approximately $27,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Macy’s in the third quarter worth $39,000. Fidelis Capital Partners LLC bought a new position in Macy’s during the first quarter worth $42,000. EntryPoint Capital LLC acquired a new position in Macy’s during the 1st quarter valued at $51,000. Finally, Abich Financial Wealth Management LLC bought a new stake in Macy’s in the 2nd quarter valued at $57,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Argus upgraded shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. StockNews.com assumed coverage on Macy’s in a report on Thursday. They issued a “hold” rating for the company. Morgan Stanley decreased their price objective on Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Telsey Advisory Group restated a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a research note on Wednesday, August 21st. Finally, Evercore ISI reduced their target price on Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research report on Tuesday, July 16th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $20.43.

Macy’s Stock Down 0.7 %

Shares of NYSE M opened at $16.18 on Friday. The business has a fifty day moving average of $15.55 and a two-hundred day moving average of $17.46. 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, Inc. has a 52-week low of $10.59 and a 52-week high of $22.10. The stock has a market cap of $4.47 billion, a PE ratio of 539.33 and a beta of 2.11.

Macy’s (NYSE:M) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share 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 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 quarter last year, the business posted $0.26 earnings per share. As a group, equities research analysts expect that Macy’s, Inc. will post 2.72 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date was Friday, September 13th. Macy’s’s dividend payout ratio is currently 2,300.00%.

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.