Royce & Associates LP Buys 25,000 Shares of Macy's, Inc. (NYSE:M)

Royce & Associates LP grew its position in Macy's, Inc. (NYSE:M - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,445,000 shares of the company's stock after purchasing an additional 25,000 shares during the quarter. Royce & Associates LP owned approximately 0.52% of Macy's worth $24,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in Macy's by 2.6% in the 3rd 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 in the last quarter. FMR LLC raised its position in shares of Macy's by 4.4% during the third quarter. FMR LLC now owns 4,691,591 shares of the company's stock valued at $73,611,000 after buying an additional 195,880 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Macy's by 13.3% in the fourth quarter. Allianz Asset Management GmbH now owns 3,512,142 shares of the company's stock worth $59,461,000 after buying an additional 411,412 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Macy's by 14.5% during 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 acquiring an additional 419,261 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Macy's by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,776,462 shares of the company's stock valued at $47,006,000 after acquiring an additional 114,586 shares in the last quarter. 87.36% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Macy's Trading Down 1.9 %

M stock traded down $0.26 during trading on Thursday, hitting $13.39. The company had a trading volume of 4,695,417 shares, compared to its average volume of 5,996,201. The firm has a market capitalization of $3.72 billion, a P/E ratio of 22.69 and a beta of 2.07. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. Macy's, Inc. has a 52-week low of $12.60 and a 52-week high of $21.60. The company has a 50 day simple moving average of $14.56 and a 200-day simple moving average of $15.35.

Macy's (NYSE:M - Get Free Report) last issued its earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.25. The business had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.76 billion. Macy's had a net margin of 0.73% and a return on equity of 21.99%. As a group, research analysts forecast that Macy's, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy's Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.1824 per share. This is an increase from Macy's's previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.45%. Macy's's dividend payout ratio is presently 35.44%.

Analyst Ratings Changes

M has been the topic of a number of research reports. Telsey Advisory Group set a $15.00 target price on shares of Macy's in a report on Friday, March 7th. JPMorgan Chase & Co. lowered Macy's from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $19.00 to $14.00 in a research note on Thursday, March 6th. UBS Group dropped their target price on Macy's from $9.00 to $8.00 and set a "sell" rating for the company in a report on Friday, March 7th. The Goldman Sachs Group decreased their price target on Macy's from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Friday, March 7th. Finally, StockNews.com upgraded shares of Macy's from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $15.30.

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.