Victory Capital Management Inc. lessened its holdings in Macy's, Inc. (NYSE:M - Free Report) by 42.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 234,994 shares of the company's stock after selling 175,716 shares during the period. Victory Capital Management Inc. owned 0.08% of Macy's worth $3,978,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Macy's by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company's stock valued at $41,765,000 after acquiring an additional 118,626 shares during the last quarter. FMR LLC lifted its holdings in shares of Macy's by 4.4% in the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company's stock valued at $73,611,000 after acquiring an additional 195,880 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Macy's in the 3rd quarter valued at about $594,000. HB Wealth Management LLC lifted its holdings in shares of Macy's by 724.1% in the 4th quarter. HB Wealth Management LLC now owns 103,584 shares of the company's stock valued at $1,754,000 after acquiring an additional 91,015 shares during the last quarter. Finally, Alerus Financial NA bought a new position in shares of Macy's in the 3rd quarter valued at about $2,144,000. Institutional investors own 87.36% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on M. Telsey Advisory Group set a $15.00 price target on shares of Macy's in a report on Friday, March 7th. The Goldman Sachs Group lowered their price target on shares of Macy's from $19.00 to $17.00 and set a "buy" rating for the company in a report on Friday, March 7th. Benchmark raised shares of Macy's to a "strong-buy" rating in a research report on Monday, February 3rd. UBS Group reduced their price objective on shares of Macy's from $9.00 to $8.00 and set a "sell" rating on the stock in a research report on Friday, March 7th. Finally, Morgan Stanley set a $14.00 price objective on shares of Macy's in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $15.30.
Check Out Our Latest Stock Report on Macy's
Macy's Stock Up 0.6 %
M stock traded up $0.09 during trading on Wednesday, hitting $13.65. 3,767,143 shares of the company's stock traded hands, compared to its average volume of 7,156,700. The firm has a market capitalization of $3.79 billion, a P/E ratio of 23.09 and a beta of 2.07. The business has a fifty day simple moving average of $14.61 and a two-hundred day simple moving average of $15.37. 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 1 year low of $12.60 and a 1 year high of $21.60.
Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.25. The company 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%. Sell-side analysts anticipate that Macy's, Inc. will post 2.39 EPS for the current year.
Macy's Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.1824 dividend. This represents a $0.73 annualized dividend and a yield of 5.35%. 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. Macy's's dividend payout ratio (DPR) is 35.44%.
Macy's Profile
(
Free Report)
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.
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