OLD National Bancorp IN Has $1.41 Million Position in Macy’s, Inc. (NYSE:M)

OLD National Bancorp IN boosted its holdings in shares of Macy’s, Inc. (NYSE:M) by 2.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,000 shares of the company’s stock after buying an additional 2,000 shares during the period. OLD National Bancorp IN’s holdings in Macy’s were worth $1,412,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Banque Cantonale Vaudoise raised its stake in shares of Macy’s by 350.0% in the first quarter. Banque Cantonale Vaudoise now owns 4,500 shares of the company’s stock worth $90,000 after purchasing an additional 3,500 shares during the last quarter. Riverview Trust Co purchased a new stake in Macy’s in the 1st quarter valued at $27,000. Atlas Capital Advisors LLC lifted its stake in Macy’s by 1,122.9% during the 1st quarter. Atlas Capital Advisors LLC now owns 17,695 shares of the company’s stock valued at $354,000 after acquiring an additional 16,248 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in Macy’s during the 1st quarter worth $50,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Macy’s by 1,695.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 159,747 shares of the company’s stock worth $3,193,000 after acquiring an additional 150,849 shares in the last quarter. 87.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Evercore ISI cut their price target on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a report on Tuesday, July 16th. 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. Morgan Stanley decreased their price target 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. Argus raised Macy’s to a “hold” rating in a research report on Thursday, October 10th. Finally, StockNews.com assumed coverage on Macy’s in a research report on Thursday, October 17th. They set a “hold” rating for the company. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.43.

Macy’s Stock Performance

Shares of M stock opened at $16.01 on Tuesday. The firm’s 50 day moving average is $15.55 and its 200 day moving average is $17.44. The stock has a market capitalization of $4.43 billion, a P/E ratio of 533.67 and a beta of 2.11. Macy’s, Inc. has a 12 month low of $10.59 and a 12 month high of $22.10. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70.

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 the consensus estimate of $0.30 by $0.23. The firm had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $5.06 billion. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.26 earnings per share. On average, sell-side analysts anticipate that Macy’s, Inc. will post 2.72 earnings per share for the current year.

Macy’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a $0.1737 dividend. This represents a $0.69 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend was Friday, September 13th. Macy’s’s dividend payout ratio is presently 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.