Y Intercept Hong Kong Ltd Sells 4,660 Shares of Macy’s, Inc. (NYSE:M)

Y Intercept Hong Kong Ltd decreased its position in Macy’s, Inc. (NYSE:M) by 18.9% during the third quarter, HoldingsChannel.com reports. The fund owned 19,942 shares of the company’s stock after selling 4,660 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Macy’s were worth $313,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in 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 worth $41,765,000 after acquiring an additional 118,626 shares in the last quarter. FMR LLC increased its position in shares of Macy’s by 4.4% during the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company’s stock valued at $73,611,000 after purchasing an additional 195,880 shares during the last quarter. Alerus Financial NA purchased a new stake in Macy’s during the 3rd quarter valued at $2,144,000. WINTON GROUP Ltd lifted its position in Macy’s by 96.4% in the second quarter. WINTON GROUP Ltd now owns 106,636 shares of the company’s stock worth $2,047,000 after buying an additional 52,337 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in Macy’s by 5.2% during the third quarter. Royce & Associates LP now owns 1,420,000 shares of the company’s stock worth $22,280,000 after buying an additional 70,000 shares during the period. 87.36% of the stock is owned by hedge funds and other institutional investors.

Macy’s Stock Performance

Shares of NYSE:M opened at $16.73 on Wednesday. The firm has a 50 day moving average of $15.85 and a 200 day moving average of $16.42. The company has a quick ratio of 0.34, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of 28.36 and a beta of 2.10. Macy’s, Inc. has a 52 week low of $14.06 and a 52 week high of $22.10.

Macy’s (NYSE:M) last released its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03). Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the firm posted $0.21 earnings per share. The company’s revenue was down 2.4% on a year-over-year basis. On average, sell-side analysts predict that Macy’s, Inc. will post 2.38 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a dividend of $0.1737 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.15%. Macy’s’s dividend payout ratio (DPR) is presently 116.95%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on M. Argus upgraded shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. StockNews.com cut Macy’s from a “buy” rating to a “hold” rating in a research note on Friday, December 13th. Guggenheim reissued a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. UBS Group reduced their target price on Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a research note on Thursday, December 12th. Finally, Gordon Haskett raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $18.56.

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.