Bank of New York Mellon Corp Grows Stake in Macy's, Inc. (NYSE:M)

Bank of New York Mellon Corp raised its stake in Macy's, Inc. (NYSE:M - Free Report) by 14.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,314,572 shares of the company's stock after buying an additional 419,261 shares during the period. Bank of New York Mellon Corp owned about 1.19% of Macy's worth $56,116,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in M. Trifecta Capital Advisors LLC purchased a new position in Macy's in the 4th quarter worth $34,000. Impax Asset Management Group plc grew its stake in shares of Macy's by 30.8% during the fourth quarter. Impax Asset Management Group plc now owns 83,112 shares of the company's stock valued at $1,407,000 after buying an additional 19,568 shares during the last quarter. Y Intercept Hong Kong Ltd increased its holdings in shares of Macy's by 231.5% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 66,098 shares of the company's stock worth $1,119,000 after buying an additional 46,156 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Macy's by 13.3% in the 4th quarter. Allianz Asset Management GmbH now owns 3,512,142 shares of the company's stock valued at $59,461,000 after acquiring an additional 411,412 shares during the last quarter. Finally, Waterfront Wealth Inc. lifted its stake in shares of Macy's by 5.6% in the 4th quarter. Waterfront Wealth Inc. now owns 189,831 shares of the company's stock valued at $3,214,000 after acquiring an additional 10,092 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on M shares. StockNews.com raised Macy's from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. UBS Group decreased their target price on shares of Macy's from $10.00 to $9.00 and set a "sell" rating on the stock in a research note on Thursday, December 12th. Gordon Haskett cut shares of Macy's from a "buy" rating to an "accumulate" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. decreased their price objective on shares of Macy's from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Finally, Telsey Advisory Group reiterated a "market perform" rating and set a $17.00 target price on shares of Macy's in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $17.14.

Macy's Stock Down 0.1 %

Macy's stock traded down $0.01 during trading hours on Wednesday, hitting $13.35. 11,990,337 shares of the stock traded hands, compared to its average volume of 6,710,616. Macy's, Inc. has a one year low of $13.12 and a one year high of $22.10. The firm's 50-day moving average price is $15.26 and its two-hundred day moving average price is $15.53. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The company has a market cap of $3.71 billion, a PE ratio of 22.62 and a beta of 2.05.

Macy's (NYSE:M - Get Free Report) last released 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 firm 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%. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.21 earnings per share. On average, research analysts forecast that Macy's, Inc. will post 2.39 EPS for the current year.

Macy's Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.1824 per share. The ex-dividend date is Friday, March 14th. This represents a $0.73 annualized dividend and a yield of 5.47%. This is a positive change from Macy's's previous quarterly dividend of $0.17. Macy's's payout ratio is presently 116.95%.

Macy's Profile

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.