Charles Schwab Investment Management Inc. raised its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,776,462 shares of the company's stock after acquiring an additional 114,586 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.00% of Macy's worth $47,006,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the business. Barington Capital Group L.P. increased its holdings in Macy's by 550.0% in the 3rd quarter. Barington Capital Group L.P. now owns 650,000 shares of the company's stock worth $10,198,000 after acquiring an additional 550,000 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Macy's by 14.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,314,572 shares of the company's stock valued at $56,116,000 after acquiring an additional 419,261 shares during the last quarter. Allianz Asset Management GmbH boosted its position in shares of Macy's by 13.3% during 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. Lind Value II ApS acquired a new position in shares of Macy's during the 4th quarter valued at about $6,733,000. Finally, Retirement Systems of Alabama boosted its position in shares of Macy's by 57.9% during the 3rd quarter. Retirement Systems of Alabama now owns 782,391 shares of the company's stock valued at $12,276,000 after acquiring an additional 286,879 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.
Macy's Stock Performance
Shares of M traded down $0.24 during mid-day trading on Tuesday, reaching $13.57. 5,328,716 shares of the company's stock were exchanged, compared to its average volume of 6,029,302. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. The stock has a market capitalization of $3.77 billion, a PE ratio of 22.99 and a beta of 2.07. The business's fifty day simple moving average is $14.66 and its 200-day simple moving average is $15.38. Macy's, Inc. has a 52-week low of $12.60 and a 52-week high of $22.10.
Macy's (NYSE:M - Get Free Report) last announced its earnings results on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.25. Macy's had a net margin of 0.73% and a return on equity of 21.99%. The business had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.76 billion. On average, equities research analysts expect that Macy's, Inc. will post 2.39 earnings per share for the current year.
Macy's Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 is a boost from Macy's's previous quarterly dividend of $0.17. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.38%. Macy's's dividend payout ratio is 35.44%.
Analyst Ratings Changes
A number of research analysts have commented on the stock. UBS Group decreased their target price on shares of Macy's from $9.00 to $8.00 and set a "sell" rating on the stock in a research report on Friday, March 7th. The Goldman Sachs Group reduced their price target on shares of Macy's from $19.00 to $17.00 and set a "buy" rating on the stock in a research report on Friday, March 7th. JPMorgan Chase & Co. cut shares of Macy's from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $19.00 to $14.00 in a research report on Thursday, March 6th. Gordon Haskett cut shares of Macy's from an "accumulate" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, Telsey Advisory Group set a $15.00 target price on shares of Macy's in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $15.30.
Check Out Our Latest Stock Analysis on M
Macy's Profile
(
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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