42,071 Shares in Macy's, Inc. (NYSE:M) Bought by Ieq Capital LLC

Ieq Capital LLC acquired a new stake in Macy's, Inc. (NYSE:M - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 42,071 shares of the company's stock, valued at approximately $712,000.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in Macy's by 2.6% during the third quarter. Geode Capital Management LLC now owns 5,023,790 shares of the company's stock worth $79,110,000 after purchasing an additional 128,258 shares during the period. FMR LLC grew its holdings in Macy's by 4.4% during the third quarter. FMR LLC now owns 4,691,591 shares of the company's stock worth $73,611,000 after purchasing an additional 195,880 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Macy's by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company's stock worth $41,765,000 after purchasing an additional 118,626 shares during the period. Royce & Associates LP grew its holdings in Macy's by 5.2% during the third quarter. Royce & Associates LP now owns 1,420,000 shares of the company's stock worth $22,280,000 after purchasing an additional 70,000 shares during the period. Finally, Invenomic Capital Management LP grew its holdings in Macy's by 32.3% during the third quarter. Invenomic Capital Management LP now owns 795,687 shares of the company's stock worth $12,484,000 after purchasing an additional 194,443 shares during the period. Institutional investors own 87.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on M shares. Guggenheim reiterated a "neutral" rating on shares of Macy's in a report on Thursday, December 12th. JPMorgan Chase & Co. reduced their price target on Macy's from $21.00 to $20.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. StockNews.com upgraded shares of Macy's from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Gordon Haskett downgraded shares of Macy's from a "buy" rating to an "accumulate" rating in a research report on Thursday, February 13th. Finally, UBS Group cut their price objective on shares of Macy's from $10.00 to $9.00 and set a "sell" rating for the company in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $17.14.

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Macy's Price Performance

Shares of NYSE M traded up $0.29 during midday trading on Friday, reaching $14.35. The company's stock had a trading volume of 8,689,582 shares, compared to its average volume of 6,416,940. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. Macy's, Inc. has a fifty-two week low of $13.66 and a fifty-two week high of $22.10. The business's 50 day moving average price is $15.39 and its two-hundred day moving average price is $15.59. The company has a market cap of $3.98 billion, a P/E ratio of 24.32 and a beta of 2.05.

Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.03). The firm had revenue of $4.74 billion during 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 business's revenue was down 2.4% compared to the same quarter last year. During the same period last year, the business earned $0.21 earnings per share. On average, analysts forecast that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Macy's Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.08%. This is a boost 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.