Invenomic Capital Management LP Grows Position in Macy’s, Inc. (NYSE:M)

Invenomic Capital Management LP increased its position in shares of Macy’s, Inc. (NYSE:M) by 32.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 795,687 shares of the company’s stock after acquiring an additional 194,443 shares during the quarter. Invenomic Capital Management LP’s holdings in Macy’s were worth $12,484,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Quest Partners LLC purchased a new position in shares of Macy’s in the third quarter valued at approximately $35,000. Venturi Wealth Management LLC lifted its holdings in shares of Macy’s by 282.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after acquiring an additional 1,685 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Macy’s in the third quarter valued at approximately $39,000. Abich Financial Wealth Management LLC acquired a new position in Macy’s in the second quarter worth $57,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Macy’s during the second quarter worth about $62,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Macy’s Trading Down 1.9 %

M opened at $16.61 on Tuesday. The firm’s fifty day simple moving average is $15.53 and its 200 day simple moving average is $16.69. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. Macy’s, Inc. has a 12 month low of $14.06 and a 12 month high of $22.10. The stock has a market capitalization of $4.61 billion, a P/E ratio of 26.47 and a beta of 2.11.

Macy’s Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.1737 per share. The ex-dividend date is Friday, December 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.18%. Macy’s’s payout ratio is 107.81%.

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.