Impax Asset Management Group plc Boosts Stock Position in Macy's, Inc. (NYSE:M)

Impax Asset Management Group plc increased its position in Macy's, Inc. (NYSE:M - Free Report) by 30.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,112 shares of the company's stock after purchasing an additional 19,568 shares during the period. Impax Asset Management Group plc's holdings in Macy's were worth $1,407,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of M. Blue Trust Inc. lifted its stake in shares of Macy's by 619.1% in the 3rd quarter. Blue Trust Inc. now owns 4,868 shares of the company's stock worth $76,000 after purchasing an additional 4,191 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Macy's by 454.3% in the 3rd quarter. International Assets Investment Management LLC now owns 111,587 shares of the company's stock worth $1,751,000 after purchasing an additional 91,455 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Macy's in the 3rd quarter worth approximately $1,407,000. PFG Investments LLC bought a new position in shares of Macy's in the 3rd quarter worth approximately $168,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Macy's by 8.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 23,399 shares of the company's stock worth $367,000 after purchasing an additional 1,866 shares during the period. Institutional investors own 87.36% of the company's stock.

Macy's Price Performance

M traded up $0.29 during trading on Friday, reaching $14.35. 8,689,582 shares of the company traded hands, 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 12-month low of $13.66 and a 12-month high of $22.10. The firm has a fifty day simple moving average of $15.39 and a 200 day simple moving average of $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.

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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). Macy's had a net margin of 0.73% and a return on equity of 21.99%. The company had revenue of $4.74 billion for the quarter, compared to analysts' expectations of $4.74 billion. During the same period last year, the business earned $0.21 earnings per share. The company's quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities analysts forecast that Macy's, Inc. will post 2.39 EPS for the current 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 issued a dividend of $0.1824 per share. This is a positive change from Macy's's previous quarterly dividend of $0.17. This represents a $0.73 dividend on an annualized basis and a yield of 5.08%. Macy's's dividend payout ratio (DPR) is 116.95%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on M shares. Telsey Advisory Group reiterated a "market perform" rating and issued a $17.00 price objective on shares of Macy's in a research note on Thursday. Gordon Haskett cut shares of Macy's from a "buy" rating to an "accumulate" rating in a research note on Thursday, February 13th. UBS Group lowered their price objective on shares of Macy's from $10.00 to $9.00 and set a "sell" rating on the stock in a research note on Thursday, December 12th. Morgan Stanley reduced their target price on shares of Macy's from $17.00 to $16.00 and set an "equal weight" rating for the company in a report on Thursday, December 12th. Finally, StockNews.com raised shares of Macy's from a "hold" rating to a "buy" rating in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $17.14.

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.