Charles Schwab Investment Management Inc. Grows Stock Position in Macy's, Inc. (NYSE:M)

Charles Schwab Investment Management Inc. increased its position in shares of Macy's, Inc. (NYSE:M - Free Report) by 4.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,661,876 shares of the company's stock after acquiring an additional 118,626 shares during the period. Charles Schwab Investment Management Inc. owned about 0.96% of Macy's worth $41,765,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Banco Santander S.A. acquired a new stake in shares of Macy's in the third quarter valued at about $159,000. Factorial Partners LLC lifted its position in shares of Macy's by 36.0% in the 3rd quarter. Factorial Partners LLC now owns 68,000 shares of the company's stock worth $1,067,000 after purchasing an additional 18,000 shares during the period. Quest Partners LLC bought a new stake in shares of Macy's in the 3rd quarter valued at $35,000. Gladius Capital Management LP acquired a new stake in shares of Macy's during the third quarter worth $203,000. Finally, Empowered Funds LLC lifted its holdings in Macy's by 94.4% in the third quarter. Empowered Funds LLC now owns 54,704 shares of the company's stock valued at $858,000 after buying an additional 26,557 shares during the period. 87.36% of the stock is currently owned by institutional investors.

Macy's Stock Down 2.7 %

Shares of M traded down $0.45 during trading hours on Tuesday, reaching $16.48. 4,910,465 shares of the stock traded hands, compared to its average volume of 6,304,084. Macy's, Inc. has a 52 week low of $14.06 and a 52 week 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. The stock has a fifty day simple moving average of $15.57 and a 200 day simple moving average of $16.67. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 25.75 and a beta of 2.10.

Macy's Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.1737 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.69 annualized dividend and a yield of 4.22%. Macy's's dividend payout ratio is currently 107.81%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on M. Morgan Stanley dropped their price objective on Macy's from $18.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 22nd. Telsey Advisory Group reissued a "market perform" rating and issued a $17.00 price objective on shares of Macy's in a research note on Tuesday, November 26th. Argus upgraded Macy's to a "hold" rating in a report on Thursday, October 10th. Finally, StockNews.com upgraded shares of Macy's from a "hold" rating to a "buy" rating in a research note on Wednesday, November 27th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target 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.