Virtu Financial LLC Invests $594,000 in Macy’s, Inc. (NYSE:M)

Virtu Financial LLC purchased a new stake in shares of Macy’s, Inc. (NYSE:M) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 37,855 shares of the company’s stock, valued at approximately $594,000.

Several other institutional investors have also recently bought and sold shares of M. Geode Capital Management LLC raised its stake in shares of Macy’s by 2.6% in the third quarter. Geode Capital Management LLC now owns 5,023,790 shares of the company’s stock worth $79,110,000 after acquiring an additional 128,258 shares during the last quarter. MidWestOne Financial Group Inc. raised its position in Macy’s by 45.8% in the 3rd quarter. MidWestOne Financial Group Inc. now owns 118,479 shares of the company’s stock worth $1,859,000 after purchasing an additional 37,218 shares during the last quarter. MML Investors Services LLC acquired a new position in Macy’s during the 3rd quarter worth $193,000. XTX Topco Ltd bought a new position in Macy’s in the 3rd quarter valued at $503,000. Finally, Quarry LP acquired a new stake in shares of Macy’s in the 3rd quarter valued at $117,000. Institutional investors own 87.36% of the company’s stock.

Macy’s Stock Up 2.6 %

Shares of NYSE:M opened at $16.56 on Friday. The company has a 50 day moving average price of $15.79 and a two-hundred day moving average price of $16.48. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.34 and a current ratio of 1.26. The company has a market capitalization of $4.59 billion, a PE ratio of 28.07 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 data on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.74 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. Macy’s’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS. Analysts forecast that Macy’s, Inc. will post 2.38 earnings per share for the current year.

Macy’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a $0.1737 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.20%. Macy’s’s dividend payout ratio is presently 116.95%.

Analyst Ratings Changes

M has been the topic of several research reports. Argus raised Macy’s to a “hold” rating in a research note on Thursday, October 10th. Telsey Advisory Group restated a “market perform” rating and set a $17.00 target price on shares of Macy’s in a research report on Wednesday. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a research report on Thursday. Morgan Stanley cut their price objective on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, StockNews.com cut shares of Macy’s from a “buy” rating to a “hold” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Macy’s currently has a consensus rating of “Hold” and a consensus target price of $18.38.

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.