Macy’s, Inc. (NYSE:M) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC cut its stake in shares of Macy’s, Inc. (NYSE:M) by 38.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,248 shares of the company’s stock after selling 24,787 shares during the period. Penserra Capital Management LLC’s holdings in Macy’s were worth $631,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of Macy’s by 6.3% in the 1st 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 during the period. B. Riley Wealth Advisors Inc. lifted its position in shares of Macy’s by 32.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 16,943 shares of the company’s stock worth $339,000 after purchasing an additional 4,122 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Macy’s in the first quarter valued at approximately $392,000. Virtu Financial LLC purchased a new position in shares of Macy’s in the first quarter valued at approximately $1,043,000. Finally, CWM LLC increased its stake in Macy’s by 7.7% during the 2nd quarter. CWM LLC now owns 8,398 shares of the company’s stock worth $161,000 after buying an additional 598 shares during the period. 87.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Argus raised shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Morgan Stanley lowered their target price on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $17.00 price target on shares of Macy’s in a research report on Tuesday. Finally, StockNews.com raised Macy’s from a “hold” rating to a “buy” rating in a research report on Wednesday. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $19.86.

Macy’s Trading Up 0.4 %

M opened at $15.96 on Thursday. 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 one year low of $14.06 and a one year high of $22.10. The company has a market cap of $4.43 billion, a P/E ratio of 24.94 and a beta of 2.11. The business’s 50-day simple moving average is $15.49 and its 200-day simple moving average is $16.76.

Macy’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.1737 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a yield of 4.35%. Macy’s’s payout ratio is currently 107.81%.

Macy’s Company 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.