Bailard Inc. acquired a new position in shares of Macy's, Inc. (NYSE:M - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 44,928 shares of the company's stock, valued at approximately $761,000.
A number of other institutional investors have also made changes to their positions in M. Charles Schwab Investment Management Inc. increased its stake in Macy's by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company's stock valued at $41,765,000 after purchasing an additional 118,626 shares in the last quarter. FMR LLC increased its position in shares of Macy's by 4.4% in the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company's stock valued at $73,611,000 after buying an additional 195,880 shares in the last quarter. Virtu Financial LLC acquired a new stake in Macy's during the 3rd quarter worth $594,000. HB Wealth Management LLC lifted its holdings in Macy's by 724.1% during the fourth quarter. HB Wealth Management LLC now owns 103,584 shares of the company's stock worth $1,754,000 after acquiring an additional 91,015 shares in the last quarter. Finally, Alerus Financial NA acquired a new position in Macy's in the third quarter valued at about $2,144,000. 87.36% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on M shares. Telsey Advisory Group reaffirmed a "market perform" rating and set a $17.00 price target on shares of Macy's in a research report on Thursday. Gordon Haskett downgraded shares of Macy's from an "accumulate" rating to a "hold" rating in a report on Thursday. Benchmark upgraded shares of Macy's to a "strong-buy" rating in a report on Monday, February 3rd. The Goldman Sachs Group dropped their price objective on shares of Macy's from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Friday. Finally, Morgan Stanley reduced their target price on shares of Macy's from $17.00 to $16.00 and set an "equal weight" rating for the company in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $16.00.
Check Out Our Latest Analysis on M
Macy's Stock Up 6.6 %
Shares of Macy's stock traded up $0.88 during trading hours on Friday, reaching $14.10. 13,496,678 shares of the company's stock were exchanged, compared to its average volume of 7,130,802. The stock has a market cap of $3.91 billion, a P/E ratio of 23.89 and a beta of 2.05. The company has a 50 day moving average of $15.10 and a two-hundred day moving average of $15.50. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. Macy's, Inc. has a fifty-two week low of $12.60 and a fifty-two week high of $22.10.
Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.55 by $0.25. The firm had revenue of $7.77 billion during the quarter, compared to analysts' expectations of $7.76 billion. Macy's had a return on equity of 21.99% and a net margin of 0.73%. On average, sell-side analysts forecast that Macy's, Inc. will post 2.39 EPS for the current fiscal year.
Macy's Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a yield of 5.18%. This is an increase from Macy's's previous quarterly dividend of $0.17. The ex-dividend date is Friday, March 14th. Macy's's payout ratio is presently 116.95%.
About Macy's
(
Free Report)
Macy's, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm's brands include Macy's, Bloomingdale's, and Bluemercury. It offers men's, women's, and children's apparel, women's accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.
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