Macy’s, Inc. (NYSE:M) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its position in Macy’s, Inc. (NYSE:M) by 6.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,203 shares of the company’s stock after selling 7,921 shares during the period. Public Employees Retirement System of Ohio’s holdings in Macy’s were worth $1,682,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in Macy’s by 9.8% in the second quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company’s stock valued at $297,385,000 after purchasing an additional 1,379,476 shares during the last quarter. LSV Asset Management boosted its position in shares of Macy’s by 1.3% in the 2nd quarter. LSV Asset Management now owns 5,374,167 shares of the company’s stock worth $103,184,000 after buying an additional 68,300 shares in the last quarter. American Century Companies Inc. increased its holdings in Macy’s by 18.9% during the 2nd quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock valued at $90,333,000 after acquiring an additional 747,542 shares in the last quarter. FMR LLC lifted 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 in the last quarter. Finally, Marshall Wace LLP grew its position in shares of Macy’s by 1,539.5% in 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 during the last quarter. 87.36% of the stock is owned by hedge funds and other institutional investors.

Macy’s Stock Performance

Shares of M stock opened at $15.85 on Thursday. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of 26.86 and a beta of 2.10. The company has a 50 day moving average price of $15.85 and a 200 day moving average price of $16.42. Macy’s, Inc. has a one year low of $14.06 and a one year high of $22.10. 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 (NYSE:M) last issued its 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). Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The firm had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period last year, the business posted $0.21 earnings per share. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. Sell-side analysts anticipate that Macy’s, Inc. will post 2.38 EPS for the current year.

Macy’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date is Friday, December 13th. Macy’s’s dividend payout ratio (DPR) is presently 116.95%.

Analyst Ratings Changes

Several research analysts recently issued reports on M shares. StockNews.com downgraded Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, December 13th. Morgan Stanley reduced their price objective on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 12th. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. Argus raised shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. Finally, Gordon Haskett raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $18.56.

Macy’s Company 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.