Point72 Asia Singapore Pte. Ltd. Purchases 21,063 Shares of Macy’s, Inc. (NYSE:M)

Point72 Asia Singapore Pte. Ltd. lifted its holdings in Macy’s, Inc. (NYSE:M) by 652.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 24,289 shares of the company’s stock after buying an additional 21,063 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Macy’s were worth $381,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position in Macy’s by 9.8% during the second quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company’s stock valued at $297,385,000 after purchasing an additional 1,379,476 shares in the last quarter. LSV Asset Management lifted its position in shares of Macy’s by 1.3% during the 2nd quarter. LSV Asset Management now owns 5,374,167 shares of the company’s stock valued at $103,184,000 after buying an additional 68,300 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Macy’s by 18.9% during the 2nd quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock valued at $90,333,000 after acquiring an additional 747,542 shares during the period. FMR LLC increased its holdings in Macy’s by 4.4% in the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company’s stock worth $73,611,000 after acquiring an additional 195,880 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in Macy’s by 1,539.5% during the 2nd quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock worth $67,871,000 after acquiring an additional 3,319,337 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Macy’s Trading Up 4.3 %

Shares of M stock opened at $16.94 on Tuesday. 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 market capitalization of $4.70 billion, a price-to-earnings ratio of 26.47 and a beta of 2.11. Macy’s, Inc. has a 12-month low of $14.06 and a 12-month high of $22.10. The stock’s 50-day moving average price is $15.53 and its 200-day moving average price is $16.69.

Macy’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.1737 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.10%. Macy’s’s dividend payout ratio is currently 107.81%.

Macy’s Company 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.