Xponance Inc. Grows Holdings in Macy’s, Inc. (NYSE:M)

Xponance Inc. grew its stake in shares of Macy’s, Inc. (NYSE:M) by 6.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,544 shares of the company’s stock after purchasing an additional 2,316 shares during the quarter. Xponance Inc.’s holdings in Macy’s were worth $653,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in M. Charles Schwab Investment Management Inc. raised its position in Macy’s by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock valued at $41,765,000 after purchasing an additional 118,626 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 acquiring an additional 195,880 shares in the last quarter. Virtu Financial LLC purchased a new stake in Macy’s in the third quarter worth about $594,000. HB Wealth Management LLC grew its holdings in Macy’s by 724.1% during the 4th quarter. HB Wealth Management LLC now owns 103,584 shares of the company’s stock worth $1,754,000 after acquiring an additional 91,015 shares in the last quarter. Finally, Alerus Financial NA purchased a new position in Macy’s during the 3rd quarter valued at about $2,144,000. 87.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on M shares. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Cowen restated a “hold” rating on shares of Macy’s in a research note on Friday, March 7th. Citigroup cut their target price on Macy’s from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Finally, Benchmark raised shares of Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $15.30.

Macy’s Trading Down 2.3 %

Macy’s stock opened at $13.62 on Wednesday. The stock has a 50-day moving average price of $14.43 and a 200 day moving average price of $15.31. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 23.08 and a beta of 2.07. Macy’s, Inc. has a 52 week low of $12.60 and a 52 week high of $20.70. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67.

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

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.1824 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 dividend on an annualized basis and a yield of 5.36%. Macy’s’s payout ratio is presently 35.44%.

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.