Illinois Municipal Retirement Fund boosted its position in shares of Macy’s, Inc. (NYSE:M – Get Rating) by 58.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 177,256 shares of the company’s stock after buying an additional 65,069 shares during the period. Illinois Municipal Retirement Fund owned 0.07% of Macy’s worth $3,660,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in M. OLD National Bancorp IN grew its stake in shares of Macy’s by 2.9% in the 4th quarter. OLD National Bancorp IN now owns 71,000 shares of the company’s stock valued at $1,466,000 after purchasing an additional 2,000 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Macy’s by 2,319.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 128,303 shares of the company’s stock valued at $2,649,000 after purchasing an additional 123,000 shares during the last quarter. Bailard Inc. grew its stake in shares of Macy’s by 7.3% in the 4th quarter. Bailard Inc. now owns 11,700 shares of the company’s stock valued at $242,000 after purchasing an additional 800 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Macy’s by 13.2% in the 4th quarter. ProShare Advisors LLC now owns 16,690 shares of the company’s stock valued at $345,000 after purchasing an additional 1,941 shares during the last quarter. Finally, Profund Advisors LLC purchased a new position in shares of Macy’s in the 4th quarter valued at approximately $210,000. Institutional investors and hedge funds own 80.19% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have weighed in on M shares. Morgan Stanley lifted their target price on Macy’s from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Friday, March 3rd. Gordon Haskett lowered Macy’s from an “accumulate” rating to a “hold” rating and set a $18.00 price objective on the stock. in a report on Wednesday, March 29th. JPMorgan Chase & Co. raised Macy’s from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $28.00 to $29.00 in a report on Monday, April 3rd. Citigroup upped their price objective on Macy’s from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, February 23rd. Finally, Credit Suisse Group upped their price objective on Macy’s from $19.00 to $20.00 and gave the stock an “underperform” rating in a report on Friday, March 3rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Macy’s presently has a consensus rating of “Hold” and an average target price of $23.83.
Macy’s Stock Down 1.6 %
M opened at $17.07 on Monday. The business’s fifty day simple moving average is $19.36 and its 200 day simple moving average is $20.64. Macy’s, Inc. has a 52 week low of $15.10 and a 52 week high of $25.82. The firm has a market cap of $4.65 billion, a P/E ratio of 4.07, a PEG ratio of 0.38 and a beta of 1.81. The company has a quick ratio of 0.33, a current ratio of 1.20 and a debt-to-equity ratio of 0.73.
Macy’s (NYSE:M – Get Rating) last released its earnings results on Thursday, March 2nd. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.31. The firm had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.27 billion. Macy’s had a return on equity of 35.06% and a net margin of 4.82%. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.45 earnings per share. As a group, equities research analysts anticipate that Macy’s, Inc. will post 3.79 EPS for the current fiscal year.
Macy’s Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Wednesday, March 15th were issued a $0.1654 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.88%. This is an increase from Macy’s’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, March 14th. Macy’s’s dividend payout ratio (DPR) is 15.75%.
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.