HB Wealth Management LLC raised its holdings in Macy’s, Inc. (NYSE:M – Free Report) by 724.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 103,584 shares of the company’s stock after buying an additional 91,015 shares during the period. HB Wealth Management LLC’s holdings in Macy’s were worth $1,754,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Macy’s by 2.6% during the third quarter. Geode Capital Management LLC now owns 5,023,790 shares of the company’s stock worth $79,110,000 after buying an additional 128,258 shares in the last quarter. FMR LLC raised its holdings in shares of Macy’s by 4.4% in the third quarter. FMR LLC now owns 4,691,591 shares of the company’s stock valued at $73,611,000 after purchasing an additional 195,880 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Macy’s by 1,539.5% during the second quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock valued at $67,871,000 after purchasing an additional 3,319,337 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Macy’s by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock worth $41,765,000 after purchasing an additional 118,626 shares during the last quarter. Finally, Royce & Associates LP grew its position in Macy’s by 5.2% in the 3rd quarter. Royce & Associates LP now owns 1,420,000 shares of the company’s stock worth $22,280,000 after purchasing an additional 70,000 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on M shares. Morgan Stanley reduced their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, December 12th. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Gordon Haskett upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Monday, December 16th. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 price objective on shares of Macy’s in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $17.78.
Macy’s Price Performance
Shares of NYSE M opened at $14.00 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. Macy’s, Inc. has a fifty-two week low of $13.66 and a fifty-two week high of $22.10. The stock has a market cap of $3.89 billion, a PE ratio of 23.74 and a beta of 2.07. The stock has a fifty day moving average of $16.00 and a 200-day moving average of $15.98.
Macy’s (NYSE:M – Get Free Report) last posted its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The company had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the previous year, the firm earned $0.21 EPS. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities research analysts anticipate that Macy’s, Inc. will post 2.39 earnings per share for the current year.
Macy’s Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were given a dividend of $0.1737 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.96%. Macy’s’s dividend payout ratio (DPR) is currently 116.95%.
About Macy’s
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.
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