New York State Teachers Retirement System Decreases Stock Holdings in Macy’s, Inc. (NYSE:M)

New York State Teachers Retirement System lowered its position in shares of Macy’s, Inc. (NYSE:M) by 4.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 315,159 shares of the company’s stock after selling 15,387 shares during the period. New York State Teachers Retirement System owned 0.11% of Macy’s worth $4,945,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Fidelis Capital Partners LLC acquired a new stake in Macy’s during the first quarter worth approximately $42,000. Future Financial Wealth Managment LLC purchased a new position in shares of Macy’s in the 3rd quarter valued at $39,000. EntryPoint Capital LLC purchased a new position in shares of Macy’s in the 1st quarter valued at $51,000. Abich Financial Wealth Management LLC acquired a new stake in Macy’s during the 2nd quarter worth $57,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Macy’s in the second quarter valued at $62,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Analysts Set New Price Targets

M has been the topic of a number of research analyst reports. StockNews.com initiated coverage on Macy’s in a research report on Saturday. They set a “hold” rating on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 price target on shares of Macy’s in a research report on Wednesday, August 21st. Argus raised Macy’s to a “hold” rating in a report on Thursday, October 10th. Evercore ISI cut their target price on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a report on Tuesday, July 16th. Finally, Morgan Stanley decreased their price target on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Macy’s presently has a consensus rating of “Hold” and a consensus price target of $20.43.

Macy’s Price Performance

Macy’s stock opened at $15.30 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34. The business has a 50 day simple moving average of $15.34 and a 200-day simple moving average of $17.15. Macy’s, Inc. has a 12 month low of $10.59 and a 12 month high of $22.10. The stock has a market capitalization of $4.24 billion, a PE ratio of 23.91 and a beta of 2.11.

Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.23. The company had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $5.06 billion. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. Macy’s’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 EPS. Equities analysts predict that Macy’s, Inc. will post 2.72 earnings per share for the current year.

Macy’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date is Friday, December 13th. Macy’s’s dividend payout ratio is presently 107.81%.

Macy’s 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.