Nuveen LLC Invests $9.20 Million in Macy's, Inc. $M

Key Points

• Nuveen LLC has invested $9.20 million in Macy's, acquiring 732,547 shares, which gives it a 0.26% ownership stake in the company.
• Macy's stock price recently opened at $13.5750 and has seen a 4.9% increase, with a market capitalization of $3.69 billion.
• The company announced a quarterly dividend of $0.1824 per share, translating to an annualized dividend yield of 5.4%, with a payout ratio of 37.06%.

Nuveen LLC acquired a new position in shares of Macy's, Inc. (NYSE:M - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 732,547 shares of the company's stock, valued at approximately $9,201,000. Nuveen LLC owned 0.26% of Macy's at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in M. Raymond James Financial Inc. acquired a new stake in shares of Macy's during the fourth quarter worth $624,000. Mariner LLC lifted its stake in shares of Macy's by 5.5% during the fourth quarter. Mariner LLC now owns 68,721 shares of the company's stock worth $1,163,000 after buying an additional 3,560 shares during the period. First Trust Advisors LP lifted its position in Macy's by 76.5% during the fourth quarter. First Trust Advisors LP now owns 1,440,460 shares of the company's stock valued at $24,387,000 after purchasing an additional 624,362 shares during the period. MetLife Investment Management LLC lifted its position in Macy's by 9.4% during the fourth quarter. MetLife Investment Management LLC now owns 157,107 shares of the company's stock valued at $2,660,000 after purchasing an additional 13,480 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in Macy's by 36.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 33,010 shares of the company's stock valued at $559,000 after purchasing an additional 8,781 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

M has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Macy's from $12.00 to $16.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Barclays initiated coverage on shares of Macy's in a research report on Monday, April 28th. They issued a "cautious" rating and a $12.00 price objective for the company. Morgan Stanley reiterated a "negative" rating on shares of Macy's in a research report on Tuesday, May 6th. Telsey Advisory Group decreased their price objective on shares of Macy's from $15.00 to $14.00 and set a "market perform" rating for the company in a research report on Thursday, May 29th. Finally, Citigroup reiterated a "neutral" rating and issued a $12.00 price objective (up previously from $11.00) on shares of Macy's in a research report on Thursday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $13.22.

Macy's Stock Up 4.9%

M stock opened at $13.5750 on Friday. The stock has a market capitalization of $3.69 billion, a P/E ratio of 6.89 and a beta of 1.79. The firm has a 50-day simple moving average of $12.29 and a 200-day simple moving average of $12.51. The company has a quick ratio of 0.37, a current ratio of 1.43 and a debt-to-equity ratio of 0.62. Macy's, Inc. has a 52 week low of $9.76 and a 52 week high of $18.13.

Macy's (NYSE:M - Get Free Report) last released its earnings results on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.01. The business had revenue of $4.60 billion during the quarter, compared to analysts' expectations of $4.38 billion. Macy's had a net margin of 2.45% and a return on equity of 16.34%. The company's quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 earnings per share. Macy's has set its FY 2025 guidance at 1.600-2.000 EPS. Equities analysts forecast that Macy's, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy's Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.4%. Macy's's dividend payout ratio is currently 37.06%.

Macy's Profile

Macy's, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm's brands include Macy's, Bloomingdale's, and Bluemercury. It offers men's, women's, and children's apparel, women's accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.

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