Alerus Financial NA Acquires Shares of 136,664 Macy’s, Inc. (NYSE:M)

Alerus Financial NA bought a new position in shares of Macy’s, Inc. (NYSE:M) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 136,664 shares of the company’s stock, valued at approximately $2,144,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in M. Dimensional Fund Advisors LP grew 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 worth $297,385,000 after buying an additional 1,379,476 shares in the last quarter. LSV Asset Management grew its holdings 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 worth $103,184,000 after purchasing an additional 68,300 shares in the last quarter. American Century Companies Inc. increased its position in shares of Macy’s by 18.9% in the second quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock worth $90,333,000 after purchasing an additional 747,542 shares during the period. FMR LLC raised its stake in Macy’s by 4.4% in the third 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 in the last quarter. Finally, Marshall Wace LLP lifted its position in Macy’s by 1,539.5% during the second quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock worth $67,871,000 after purchasing an additional 3,319,337 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

M has been the subject of several analyst reports. Telsey Advisory Group restated a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a research report on Tuesday, November 26th. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research note on Wednesday. Argus upgraded Macy’s to a “hold” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley lowered 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 report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $19.86.

Macy’s Price Performance

Macy’s stock opened at $16.24 on Friday. The stock’s 50 day moving average price is $15.53 and its two-hundred day moving average price is $16.73. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 25.38 and a beta of 2.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. Macy’s, Inc. has a 52-week low of $14.06 and a 52-week high of $22.10.

Macy’s Announces Dividend

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