Fmr LLC Acquires 195,880 Shares of Macy's, Inc. (NYSE:M)

FMR LLC grew its holdings in Macy's, Inc. (NYSE:M - Free Report) by 4.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,691,591 shares of the company's stock after buying an additional 195,880 shares during the period. FMR LLC owned 1.69% of Macy's worth $73,611,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Macy's by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company's stock valued at $41,765,000 after purchasing an additional 118,626 shares during the period. WINTON GROUP Ltd grew its stake in shares of Macy's by 96.4% during the second quarter. WINTON GROUP Ltd now owns 106,636 shares of the company's stock worth $2,047,000 after purchasing an additional 52,337 shares in the last quarter. Royce & Associates LP raised its holdings in shares of Macy's by 5.2% in the third quarter. Royce & Associates LP now owns 1,420,000 shares of the company's stock valued at $22,280,000 after buying an additional 70,000 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Macy's by 454.3% in the third quarter. International Assets Investment Management LLC now owns 111,587 shares of the company's stock valued at $1,751,000 after buying an additional 91,455 shares during the last quarter. Finally, Alden Global Capital LLC raised its holdings in Macy's by 56.1% during the second quarter. Alden Global Capital LLC now owns 606,741 shares of the company's stock worth $11,649,000 after purchasing an additional 218,146 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy's Stock Performance

Macy's stock traded down $0.02 during midday trading on Friday, reaching $16.43. 3,282,069 shares of the stock traded hands, compared to its average volume of 6,269,898. 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 firm has a fifty day moving average price of $15.66 and a two-hundred day moving average price of $16.65. Macy's, Inc. has a fifty-two week low of $14.06 and a fifty-two week high of $22.10. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 25.50 and a beta of 2.10.

Macy's Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date is Friday, December 13th. Macy's's payout ratio is presently 107.81%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Argus upgraded shares of Macy's to a "hold" rating in a research report on Thursday, October 10th. StockNews.com upgraded shares of Macy's from a "hold" rating to a "buy" rating in a research report on Wednesday, November 27th. Telsey Advisory Group restated a "market perform" rating and set a $17.00 target price on shares of Macy's in a research report on Tuesday, November 26th. Finally, Morgan Stanley decreased their target price on shares of Macy's from $18.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $19.86.

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.