Crossmark Global Holdings Inc. Grows Stock Holdings in Macy’s, Inc. (NYSE:M)

Crossmark Global Holdings Inc. lifted its position in Macy’s, Inc. (NYSE:M) by 9.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 240,263 shares of the company’s stock after buying an additional 21,500 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Macy’s were worth $3,770,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new position in Macy’s in the 3rd quarter valued at about $39,000. EntryPoint Capital LLC purchased a new position in shares of Macy’s in the first quarter valued at approximately $51,000. Abich Financial Wealth Management LLC acquired a new position in shares of Macy’s in the second quarter valued at approximately $57,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Macy’s during the 2nd quarter worth approximately $62,000. Finally, Blue Trust Inc. lifted its holdings in Macy’s by 619.1% during the 3rd quarter. Blue Trust Inc. now owns 4,868 shares of the company’s stock worth $76,000 after buying an additional 4,191 shares in the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on M shares. Telsey Advisory Group restated a “market perform” rating and issued a $21.00 price target on shares of Macy’s in a research note on Wednesday, August 21st. Evercore ISI cut their price target on Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a report on Tuesday, July 16th. Argus raised Macy’s to a “hold” rating in a research report on Thursday, October 10th. StockNews.com assumed coverage on Macy’s in a research report on Sunday. They set a “hold” rating for the company. Finally, Morgan Stanley reduced 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 report on Thursday, August 22nd. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Macy’s currently has an average rating of “Hold” and an average target price of $20.43.

Macy’s Stock Performance

Shares of Macy’s stock opened at $15.34 on Tuesday. The firm has a market capitalization of $4.25 billion, a P/E ratio of 23.97 and a beta of 2.11. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. Macy’s, Inc. has a 52 week low of $10.59 and a 52 week high of $22.10. The firm’s 50 day moving average is $15.37 and its two-hundred day moving average is $17.04.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. The firm had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. Macy’s’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 earnings per share. Research analysts forecast that Macy’s, Inc. will post 2.72 EPS for the current fiscal year.

Macy’s Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a yield of 4.53%. The ex-dividend date is Friday, December 13th. Macy’s’s dividend payout ratio (DPR) 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.