Macy’s, Inc. (NYSE:M) is Barington Capital Group L.P.’s 6th Largest Position

Barington Capital Group L.P. grew its holdings in Macy’s, Inc. (NYSE:M) by 550.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 650,000 shares of the company’s stock after acquiring an additional 550,000 shares during the period. Macy’s comprises about 10.8% of Barington Capital Group L.P.’s investment portfolio, making the stock its 6th biggest position. Barington Capital Group L.P.’s holdings in Macy’s were worth $10,198,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Morgan Stanley dropped 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. Telsey Advisory Group reissued a “market perform” rating and set a $17.00 target price on shares of Macy’s in a research report on Tuesday, November 26th. StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a report on Wednesday, November 27th. Finally, Argus upgraded Macy’s to a “hold” rating in a research report on Thursday, October 10th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Macy’s presently has an average rating of “Hold” and an average price target of $19.86.

Macy’s Stock Performance

Shares of M opened at $16.24 on Monday. The company has a 50-day simple moving average of $15.53 and a 200-day simple moving average of $16.71. Macy’s, Inc. has a 52-week low of $14.06 and a 52-week high of $22.10. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $4.50 billion, a PE ratio of 25.38 and a beta of 2.11.

Macy’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a $0.1737 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.28%. Macy’s’s dividend payout ratio is currently 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.