State of Alaska Department of Revenue Purchases 49,715 Shares of Macy's, Inc. (NYSE:M)

State of Alaska Department of Revenue lifted its stake in Macy's, Inc. (NYSE:M - Free Report) by 155.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,626 shares of the company's stock after purchasing an additional 49,715 shares during the period. State of Alaska Department of Revenue's holdings in Macy's were worth $1,381,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Barington Capital Group L.P. lifted its holdings in Macy's by 550.0% during the third quarter. Barington Capital Group L.P. now owns 650,000 shares of the company's stock worth $10,198,000 after acquiring an additional 550,000 shares in the last quarter. Lind Value II ApS bought a new position in Macy's during the fourth quarter worth about $6,733,000. Retirement Systems of Alabama lifted its holdings 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 acquiring an additional 286,879 shares in the last quarter. FMR LLC lifted its holdings in Macy's by 4.4% during the third quarter. FMR LLC now owns 4,691,591 shares of the company's stock worth $73,611,000 after acquiring an additional 195,880 shares in the last quarter. Finally, Invenomic Capital Management LP lifted its holdings in Macy's by 32.3% during the third quarter. Invenomic Capital Management LP now owns 795,687 shares of the company's stock worth $12,484,000 after acquiring an additional 194,443 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on M. UBS Group reduced their target price on Macy's from $10.00 to $9.00 and set a "sell" rating on the stock in a report on Thursday, December 12th. Guggenheim restated a "neutral" rating on shares of Macy's in a report on Thursday, December 12th. JPMorgan Chase & Co. cut their price target on Macy's from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Morgan Stanley cut their price target on Macy's from $17.00 to $16.00 and set an "equal weight" rating on the stock in a report on Thursday, December 12th. Finally, Benchmark upgraded Macy's to a "strong-buy" rating in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $17.75.

Macy's Stock Down 0.5 %

Shares of NYSE:M traded down $0.08 during midday trading on Friday, reaching $15.04. The company had a trading volume of 4,202,804 shares, compared to its average volume of 6,910,509. 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's 50 day moving average price is $15.69 and its 200 day moving average price is $15.64. The stock has a market cap of $4.17 billion, a PE ratio of 25.48 and a beta of 2.05. Macy's, Inc. has a 1-year low of $13.66 and a 1-year high of $22.10.

Macy's (NYSE:M - Get Free Report) last released its earnings results 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). The company 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%. Macy's's revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 EPS. Research analysts forecast that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Macy's Company 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.