Geode Capital Management LLC boosted its position in Macy's, Inc. (NYSE:M - Free Report) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,023,790 shares of the company's stock after purchasing an additional 128,258 shares during the quarter. Geode Capital Management LLC owned about 1.81% of Macy's worth $79,110,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. United Services Automobile Association increased its holdings in shares of Macy's by 4.8% during the second quarter. United Services Automobile Association now owns 22,038 shares of the company's stock worth $423,000 after purchasing an additional 1,012 shares during the period. Federated Hermes Inc. increased its stake in Macy's by 2.5% during the 2nd quarter. Federated Hermes Inc. now owns 44,337 shares of the company's stock worth $851,000 after acquiring an additional 1,095 shares during the period. Affinity Capital Advisors LLC raised its holdings in Macy's by 11.5% in the 3rd quarter. Affinity Capital Advisors LLC now owns 12,116 shares of the company's stock valued at $190,000 after acquiring an additional 1,248 shares in the last quarter. KBC Group NV lifted its position in shares of Macy's by 19.9% during the 3rd quarter. KBC Group NV now owns 7,952 shares of the company's stock valued at $125,000 after acquiring an additional 1,319 shares during the period. Finally, Arizona State Retirement System grew its holdings in shares of Macy's by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 76,784 shares of the company's stock worth $1,474,000 after purchasing an additional 1,462 shares in the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. StockNews.com downgraded Macy's from a "buy" rating to a "hold" rating in a research note on Friday, December 13th. Argus upgraded shares of Macy's to a "hold" rating in a research report on Thursday, October 10th. Guggenheim reaffirmed a "neutral" rating on shares of Macy's in a report on Thursday, December 12th. Telsey Advisory Group reissued a "market perform" rating and issued a $17.00 price objective on shares of Macy's in a research note on Wednesday, December 11th. Finally, Morgan Stanley lowered their price objective on shares of Macy's from $17.00 to $16.00 and set an "equal weight" rating for the company in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Macy's has a consensus rating of "Hold" and an average target price of $18.56.
Read Our Latest Stock Analysis on M
Macy's Trading Up 2.5 %
Shares of M stock traded up $0.39 during mid-day trading on Friday, reaching $16.24. 10,417,961 shares of the stock traded hands, compared to its average volume of 6,431,706. The company has a market cap of $4.51 billion, a price-to-earnings ratio of 27.53 and a beta of 2.10. The company has a quick ratio of 0.34, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The stock's fifty day simple moving average is $15.86 and its two-hundred day simple moving average is $16.41. Macy's, Inc. has a 1-year low of $14.06 and a 1-year high of $22.10.
Macy's (NYSE:M - Get Free Report) last posted its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.03). The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate 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 was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 earnings per share. On average, research analysts anticipate that Macy's, Inc. will post 2.38 EPS for the current fiscal year.
Macy's Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.1737 dividend. This represents a $0.69 annualized dividend and a yield of 4.28%. The ex-dividend date is Friday, December 13th. Macy's's payout ratio is presently 116.95%.
Macy's Profile
(
Free Report)
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.
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