Entropy Technologies LP acquired a new stake in shares of Macy's, Inc. (NYSE:M - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 113,497 shares of the company's stock, valued at approximately $1,922,000.
A number of other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of Macy's by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,023,790 shares of the company's stock valued at $79,110,000 after buying an additional 128,258 shares during the last quarter. FMR LLC raised its stake in shares of Macy's by 4.4% during 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 during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Macy's by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company's stock valued at $41,765,000 after buying an additional 118,626 shares during the last quarter. Royce & Associates LP raised its stake in shares of Macy's by 5.2% during the 3rd quarter. Royce & Associates LP now owns 1,420,000 shares of the company's stock valued at $22,280,000 after buying an additional 70,000 shares during the last quarter. Finally, Invenomic Capital Management LP grew its position in shares of Macy's by 32.3% during the 3rd quarter. Invenomic Capital Management LP now owns 795,687 shares of the company's stock valued at $12,484,000 after acquiring an additional 194,443 shares during the period. Hedge funds and other institutional investors own 87.36% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on M shares. StockNews.com cut Macy's from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Benchmark upgraded Macy's to a "strong-buy" rating in a research report on Monday, February 3rd. Telsey Advisory Group restated a "market perform" rating and set a $17.00 target price on shares of Macy's in a research report on Tuesday, January 14th. Guggenheim restated a "neutral" rating on shares of Macy's in a research report on Thursday, December 12th. Finally, Gordon Haskett cut Macy's from a "buy" rating to an "accumulate" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $17.75.
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Macy's Price Performance
Shares of Macy's stock traded up $0.35 on Thursday, hitting $15.13. 5,132,550 shares of the company were exchanged, compared to its average volume of 6,763,814. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 25.65 and a beta of 2.05. The company has a 50-day moving average price of $15.72 and a 200 day moving average price of $15.68. Macy's, Inc. has a 1-year low of $13.66 and a 1-year high of $22.10. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67.
Macy's (NYSE:M - Get Free Report) last issued its 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 analyst estimates of $4.74 billion. Macy's had a return on equity of 21.99% and a net margin of 0.73%. The company's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 earnings per share. As a group, sell-side analysts predict that Macy's, Inc. will post 2.39 earnings per share for the current fiscal year.
Macy's Company Profile
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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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