Macy’s, Inc. (NYSE:M) Shares Bought by Barington Capital Group L.P.

Barington Capital Group L.P. increased its stake in Macy’s, Inc. (NYSE:M) by 550.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 650,000 shares of the company’s stock after acquiring an additional 550,000 shares during the quarter. Macy’s makes up 10.8% of Barington Capital Group L.P.’s holdings, making the stock its 6th largest holding. Barington Capital Group L.P. owned about 0.23% of Macy’s worth $10,198,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of M. CWM LLC raised its holdings in shares of Macy’s by 7.7% during the second quarter. CWM LLC now owns 8,398 shares of the company’s stock valued at $161,000 after acquiring an additional 598 shares during the period. SummerHaven Investment Management LLC lifted its holdings in Macy’s by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 44,321 shares of the company’s stock worth $851,000 after buying an additional 761 shares in the last quarter. Wedmont Private Capital boosted its stake in shares of Macy’s by 6.1% in the 2nd quarter. Wedmont Private Capital now owns 14,403 shares of the company’s stock valued at $275,000 after purchasing an additional 833 shares during the last quarter. Cumberland Advisors Inc. grew its holdings in Macy’s by 0.9% during the 2nd quarter. Cumberland Advisors Inc. now owns 117,510 shares of the company’s stock worth $2,256,000 after acquiring an additional 1,000 shares during the period. Finally, United Services Automobile Association grew its stake in shares of Macy’s by 4.8% during the second quarter. United Services Automobile Association now owns 22,038 shares of the company’s stock worth $423,000 after purchasing an additional 1,012 shares during the period. 87.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Macy’s Price Performance

Macy’s stock opened at $16.24 on Monday. The firm has a market capitalization of $4.50 billion, a P/E ratio of 25.38 and a beta of 2.11. Macy’s, Inc. has a one year low of $14.06 and a one year high of $22.10. The business has a fifty day moving average price of $15.53 and a 200-day moving average price of $16.71. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34.

Macy’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Friday, December 13th. Macy’s’s payout ratio is 107.81%.

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.