Illinois Municipal Retirement Fund boosted its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 23.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 239,569 shares of the company's stock after acquiring an additional 44,809 shares during the quarter. Illinois Municipal Retirement Fund owned 0.09% of Macy's worth $4,056,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in M. Barington Capital Group L.P. lifted its holdings in shares of Macy's by 550.0% in the 3rd quarter. Barington Capital Group L.P. now owns 650,000 shares of the company's stock valued at $10,198,000 after buying an additional 550,000 shares during the period. Bank of New York Mellon Corp grew its position in shares of Macy's by 14.5% in the fourth quarter. Bank of New York Mellon Corp now owns 3,314,572 shares of the company's stock valued at $56,116,000 after purchasing an additional 419,261 shares in the last quarter. Allianz Asset Management GmbH raised its stake in Macy's by 13.3% during the fourth quarter. Allianz Asset Management GmbH now owns 3,512,142 shares of the company's stock worth $59,461,000 after purchasing an additional 411,412 shares during the period. Lind Value II ApS purchased a new position in shares of Macy's during the 4th quarter worth $6,733,000. Finally, Retirement Systems of Alabama lifted its stake in Macy's by 57.9% during the third quarter. Retirement Systems of Alabama now owns 782,391 shares of the company's stock worth $12,276,000 after purchasing an additional 286,879 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors.
Macy's Stock Performance
Shares of M stock traded up $0.29 on Friday, hitting $14.35. The company's stock had a trading volume of 8,689,582 shares, compared to its average volume of 6,416,940. Macy's, Inc. has a fifty-two week low of $13.66 and a fifty-two week high of $22.10. The stock's 50 day moving average is $15.39 and its 200-day moving average is $15.58. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The company has a market capitalization of $3.98 billion, a PE ratio of 24.32 and a beta of 2.05.
Macy's (NYSE:M - Get Free Report) last released its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.74 billion. Macy's had a net margin of 0.73% and a return on equity of 21.99%. The business's quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 EPS. Equities research analysts expect that Macy's, Inc. will post 2.39 earnings per share for the current fiscal year.
Macy's Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.1824 dividend. This is a positive change from Macy's's previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a yield of 5.08%. Macy's's payout ratio is currently 116.95%.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on M. JPMorgan Chase & Co. lowered their price target on shares of Macy's from $21.00 to $20.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $17.00 price objective on shares of Macy's in a research report on Thursday. Gordon Haskett downgraded shares of Macy's from a "buy" rating to an "accumulate" rating in a research note on Thursday, February 13th. UBS Group decreased their target price on Macy's from $10.00 to $9.00 and set a "sell" rating for the company in a report on Thursday, December 12th. Finally, Morgan Stanley reduced their price objective on Macy's from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $17.14.
Check Out Our Latest Report on M
Macy's Company 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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