Macy’s, Inc. (NYSE:M) Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB boosted its position in Macy’s, Inc. (NYSE:M) by 4.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 273,872 shares of the company’s stock after purchasing an additional 10,541 shares during the quarter. Nordea Investment Management AB owned about 0.10% of Macy’s worth $4,671,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its holdings in shares of Macy’s by 4.0% in the second quarter. Commonwealth Equity Services LLC now owns 49,065 shares of the company’s stock valued at $942,000 after purchasing an additional 1,900 shares during the period. Arizona State Retirement System boosted its holdings in Macy’s by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 76,784 shares of the company’s stock valued at $1,474,000 after purchasing an additional 1,462 shares during the last quarter. Texas Permanent School Fund Corp grew its stake in shares of Macy’s by 4.2% in the 2nd quarter. Texas Permanent School Fund Corp now owns 250,022 shares of the company’s stock valued at $4,800,000 after buying an additional 10,156 shares during the period. American Century Companies Inc. increased its holdings in shares of Macy’s by 18.9% during the 2nd quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock worth $90,333,000 after buying an additional 747,542 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Macy’s by 2.5% during the 2nd quarter. Federated Hermes Inc. now owns 44,337 shares of the company’s stock valued at $851,000 after buying an additional 1,095 shares during the period. 87.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. StockNews.com cut Macy’s from a “buy” rating to a “hold” rating in a research note on Thursday, December 26th. Gordon Haskett raised Macy’s from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Monday, December 16th. Morgan Stanley dropped their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday, December 12th. JPMorgan Chase & Co. cut their price target on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Argus raised shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Macy’s presently has a consensus rating of “Hold” and a consensus price target of $17.78.

Macy’s Price Performance

Shares of M opened at $15.89 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.34 and a current ratio of 1.26. Macy’s, Inc. has a fifty-two week low of $14.06 and a fifty-two week high of $22.10. The firm has a 50-day simple moving average of $16.18 and a 200-day simple moving average of $16.22. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 26.93 and a beta of 2.07.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. Macy’s’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.21 earnings per share. On average, equities research analysts anticipate that Macy’s, Inc. will post 2.4 earnings per share for the current year.

Macy’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were issued a $0.1737 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.37%. Macy’s’s dividend payout ratio is presently 116.95%.

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.