Retirement Systems of Alabama Raises Position in Macy's, Inc. (NYSE:M)

Retirement Systems of Alabama grew its stake in shares of Macy's, Inc. (NYSE:M - Free Report) by 57.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 782,391 shares of the company's stock after acquiring an additional 286,879 shares during the period. Retirement Systems of Alabama owned 0.28% of Macy's worth $12,276,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in M. Charles Schwab Investment Management Inc. increased its position 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 acquiring an additional 118,626 shares during the period. FMR LLC grew its position in shares of 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 purchasing an additional 195,880 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Macy's in the third quarter valued at approximately $594,000. Alerus Financial NA acquired a new stake in shares of Macy's in the third quarter valued at approximately $2,144,000. Finally, WINTON GROUP Ltd boosted its stake in shares of Macy's by 96.4% in the second quarter. WINTON GROUP Ltd now owns 106,636 shares of the company's stock valued at $2,047,000 after buying an additional 52,337 shares during the period. Institutional investors own 87.36% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group decreased their target price on shares of Macy's from $10.00 to $9.00 and set a "sell" rating on the stock in a report on Thursday. 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. Guggenheim restated a "neutral" rating on shares of Macy's in a research note on Thursday. StockNews.com lowered Macy's from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Morgan Stanley dropped their price objective on Macy's from $17.00 to $16.00 and set an "equal weight" rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $18.56.

Macy's Trading Up 1.0 %

Shares of M stock traded up $0.16 during trading hours on Monday, hitting $16.72. 8,440,550 shares of the company were exchanged, compared to its average volume of 6,411,498. The company has a 50 day simple moving average of $15.82 and a two-hundred day simple moving average of $16.44. The firm has a market cap of $4.64 billion, a P/E ratio of 28.34 and a beta of 2.10. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.34 and a current ratio of 1.26. Macy's, Inc. has a fifty-two week low of $14.06 and a fifty-two week high of $22.10.

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 analysts' consensus estimates of $0.07 by ($0.03). Macy's had a return on equity of 21.99% and a net margin of 0.73%. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period last year, the company earned $0.21 EPS. Macy's's revenue for the quarter was down 2.4% compared to the same quarter last year. Equities analysts anticipate that Macy's, Inc. will post 2.38 EPS for the current year.

Macy's Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a $0.1737 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 annualized dividend and a yield of 4.16%. Macy's's payout ratio is 116.95%.

Macy's Company Profile

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.