Commonwealth Equity Services LLC lifted its position in shares of Macy’s Inc (NYSE:M) by 17.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,514 shares of the company’s stock after buying an additional 7,561 shares during the period. Commonwealth Equity Services LLC’s holdings in Macy’s were worth $1,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Private Capital Group LLC increased its holdings in Macy’s by 110.1% in the 4th quarter. Private Capital Group LLC now owns 1,002 shares of the company’s stock valued at $30,000 after purchasing an additional 525 shares during the last quarter. We Are One Seven LLC acquired a new stake in Macy’s in the 4th quarter valued at approximately $35,000. Dubuque Bank & Trust Co. acquired a new stake in Macy’s in the 4th quarter valued at approximately $45,000. Braun Bostich & Associates Inc. increased its holdings in Macy’s by 155.0% in the 4th quarter. Braun Bostich & Associates Inc. now owns 1,660 shares of the company’s stock valued at $49,000 after purchasing an additional 1,009 shares during the last quarter. Finally, Huntington National Bank acquired a new stake in Macy’s in the 4th quarter valued at approximately $59,000. Institutional investors and hedge funds own 90.93% of the company’s stock.
Several analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Macy’s from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 12th. ValuEngine downgraded shares of Macy’s from a “sell” rating to a “strong sell” rating in a report on Thursday, February 28th. Jefferies Financial Group reissued a “hold” rating and issued a $27.00 price target on shares of Macy’s in a research report on Wednesday, February 27th. Guggenheim reissued a “buy” rating and issued a $30.00 price target on shares of Macy’s in a research report on Tuesday, February 26th. Finally, TheStreet cut shares of Macy’s from a “b-” rating to a “c+” rating in a research report on Tuesday, February 5th. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. Macy’s presently has a consensus rating of “Hold” and an average price target of $31.78.
Shares of M stock opened at $23.71 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.42 and a quick ratio of 0.42. Macy’s Inc has a 52 week low of $22.73 and a 52 week high of $41.99. The company has a market capitalization of $7.29 billion, a price-to-earnings ratio of 5.67, a price-to-earnings-growth ratio of 0.90 and a beta of 0.43.
Macy’s (NYSE:M) last issued its quarterly earnings results on Tuesday, February 26th. The company reported $2.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.53 by $0.20. Macy’s had a net margin of 4.43% and a return on equity of 21.32%. The company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.40 billion. During the same quarter last year, the company posted $2.82 EPS. The firm’s revenue was down 2.5% compared to the same quarter last year. As a group, equities analysts forecast that Macy’s Inc will post 3.11 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be given a dividend of $0.3775 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.51 annualized dividend and a dividend yield of 6.37%. Macy’s’s dividend payout ratio (DPR) is currently 36.12%.
Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.
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