Zurcher Kantonalbank Zurich Cantonalbank Has $1.22 Million Stock Holdings in Macy’s, Inc. (NYSE:M)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Macy’s, Inc. (NYSE:M) by 13.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 72,008 shares of the company’s stock after purchasing an additional 8,257 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Macy’s were worth $1,219,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Trifecta Capital Advisors LLC bought a new stake in shares of Macy’s in the 4th quarter valued at approximately $34,000. Quest Partners LLC bought a new stake in Macy’s in the third quarter worth approximately $35,000. Jones Financial Companies Lllp increased its stake in shares of Macy’s by 82.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after purchasing an additional 969 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of Macy’s during the 4th quarter valued at $38,000. Finally, Tompkins Financial Corp acquired a new stake in shares of Macy’s in the 4th quarter valued at $102,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Macy’s Trading Up 0.6 %

Shares of M stock opened at $13.64 on Thursday. The firm has a market capitalization of $3.79 billion, a P/E ratio of 23.11 and a beta of 2.07. Macy’s, Inc. has a 1 year low of $12.60 and a 1 year high of $21.60. The firm’s fifty day simple moving average is $14.56 and its 200 day simple moving average is $15.35. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last posted its quarterly earnings data on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.25. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The company had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.76 billion. As a group, sell-side analysts predict that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.1824 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.35%. This is an increase from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio (DPR) is currently 35.44%.

Analyst Upgrades and Downgrades

Several research firms have commented on M. StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. lowered Macy’s from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $19.00 to $14.00 in a report on Thursday, March 6th. Morgan Stanley set a $14.00 target price on Macy’s in a report on Monday, March 10th. The Goldman Sachs Group lowered their price target on Macy’s from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Finally, New Street Research set a $13.00 price objective on shares of Macy’s in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.30.

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.