B. Riley Wealth Advisors Inc. Decreases Stake in Macy’s, Inc. (NYSE:M)

B. Riley Wealth Advisors Inc. lessened its stake in shares of Macy’s, Inc. (NYSE:M) by 16.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,594 shares of the company’s stock after selling 2,562 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Macy’s were worth $196,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Retirement Systems of Alabama grew its stake in shares of Macy’s by 57.9% in the third quarter. Retirement Systems of Alabama now owns 782,391 shares of the company’s stock worth $12,276,000 after purchasing an additional 286,879 shares during the last quarter. PVG Asset Management Corp purchased a new stake in Macy’s in the 3rd quarter worth approximately $730,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Macy’s in the 3rd quarter worth approximately $221,000. Virtu Financial LLC purchased a new position in shares of Macy’s during the third quarter valued at approximately $594,000. Finally, Geode Capital Management LLC raised its holdings in shares of Macy’s by 2.6% during the third quarter. Geode Capital Management LLC now owns 5,023,790 shares of the company’s stock valued at $79,110,000 after acquiring an additional 128,258 shares in the last quarter. Institutional investors own 87.36% of the company’s stock.

Macy’s Stock Performance

Macy’s stock opened at $16.24 on Monday. The stock’s 50 day moving average is $15.87 and its 200 day moving average is $16.38. The company has a market capitalization of $4.51 billion, a P/E ratio of 27.53 and a beta of 2.10. Macy’s, Inc. has a twelve month low of $14.06 and a twelve month high of $22.10. The company has a quick ratio of 0.34, a current ratio of 1.26 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The company had revenue of $4.74 billion for 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 revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 earnings per share. On average, equities research analysts predict that Macy’s, Inc. will post 2.38 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid 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 4.28%. Macy’s’s dividend payout ratio is presently 116.95%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on M. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Gordon Haskett raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Monday, December 16th. Telsey Advisory Group reissued a “market perform” rating and issued a $17.00 price target on shares of Macy’s in a research note on Wednesday, December 11th. Argus upgraded shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. Finally, StockNews.com downgraded Macy’s from a “buy” rating to a “hold” rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $18.56.

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.