BNP Paribas Financial Markets Boosts Stake in Macy’s, Inc. (NYSE:M)

BNP Paribas Financial Markets lifted its holdings in Macy’s, Inc. (NYSE:M) by 8.4% in the third quarter, HoldingsChannel reports. The firm owned 362,508 shares of the company’s stock after purchasing an additional 27,985 shares during the quarter. BNP Paribas Financial Markets’ holdings in Macy’s were worth $5,688,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. FMR LLC lifted its stake in shares of Macy’s by 4.4% in the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company’s stock valued at $73,611,000 after purchasing an additional 195,880 shares during the last quarter. Horizon Kinetics Asset Management LLC bought a new stake in Macy’s in the third quarter worth $479,000. Charles Schwab Investment Management Inc. boosted its stake in Macy’s by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock worth $41,765,000 after buying an additional 118,626 shares during the period. Banco Santander S.A. bought a new position in Macy’s during the third quarter valued at $159,000. Finally, Factorial Partners LLC raised its stake in shares of Macy’s by 36.0% in the third quarter. Factorial Partners LLC now owns 68,000 shares of the company’s stock valued at $1,067,000 after acquiring an additional 18,000 shares during the period. Institutional investors own 87.36% of the company’s stock.

Macy’s Trading Down 2.7 %

M opened at $16.48 on Wednesday. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The stock’s fifty day moving average is $15.57 and its two-hundred day moving average is $16.67. The company has a market capitalization of $4.57 billion, a P/E ratio of 25.75 and a beta of 2.11. Macy’s, Inc. has a 52 week low of $14.06 and a 52 week high of $22.10.

Macy’s Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.1737 per share. The ex-dividend date is Friday, December 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.22%. Macy’s’s dividend payout ratio is currently 107.81%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Morgan Stanley dropped their price target on shares of 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. Argus upgraded Macy’s to a “hold” rating in a research report on Thursday, October 10th. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a report on Wednesday, November 27th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $17.00 price objective on shares of Macy’s in a report on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $19.86.

About Macy’s

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.