West Tower Group LLC Grows Holdings in Macy's, Inc. (NYSE:M)

West Tower Group LLC increased its position in shares of Macy's, Inc. (NYSE:M - Free Report) by 56.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,645 shares of the company's stock after acquiring an additional 26,659 shares during the period. Macy's makes up about 2.8% of West Tower Group LLC's investment portfolio, making the stock its 6th largest position. West Tower Group LLC's holdings in Macy's were worth $1,247,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC raised its position in shares of 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 raised its holdings in Macy's by 4.4% during the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company's stock worth $73,611,000 after buying an additional 195,880 shares during the period. Allianz Asset Management GmbH lifted 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 valued at $59,461,000 after buying an additional 411,412 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings 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 worth $56,116,000 after buying an additional 419,261 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Macy's by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,776,462 shares of the company's stock worth $47,006,000 after acquiring an additional 114,586 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

M has been the subject of a number of recent analyst reports. Guggenheim reaffirmed a "neutral" rating on shares of Macy's in a research note on Thursday, December 12th. The Goldman Sachs Group decreased their target price on Macy's from $19.00 to $17.00 and set a "buy" rating for the company in a research report on Friday, March 7th. Morgan Stanley set a $14.00 price target on Macy's in a research report on Monday, March 10th. Cowen restated a "hold" rating on shares of Macy's in a research report on Friday, March 7th. Finally, Gordon Haskett downgraded Macy's from an "accumulate" rating to a "hold" rating in a report on Thursday, March 6th. One 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $15.30.

Macy's Price Performance

M traded down $0.11 during midday trading on Friday, reaching $13.27. 5,725,753 shares of the company's stock were exchanged, compared to its average volume of 5,990,170. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The business has a 50-day simple moving average of $14.46 and a two-hundred day simple moving average of $15.32. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 22.48 and a beta of 2.07. Macy's, Inc. has a one year low of $12.60 and a one year high of $20.71.

Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.55 by $0.25. Macy's had a return on equity of 21.99% and a net margin of 0.73%. The business had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.76 billion. As a group, research analysts predict that Macy's, Inc. will post 2.39 EPS 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. This is a boost from Macy's's previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a dividend yield of 5.50%. The ex-dividend date is Friday, March 14th. Macy's's dividend payout ratio is 35.44%.

About Macy's

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.