Illinois Municipal Retirement Fund Buys 37,334 Shares of Macy's, Inc. (NYSE:M)

Illinois Municipal Retirement Fund increased its position in Macy's, Inc. (NYSE:M - Free Report) by 15.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 276,903 shares of the company's stock after acquiring an additional 37,334 shares during the period. Illinois Municipal Retirement Fund owned about 0.10% of Macy's worth $3,478,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in Macy's during the fourth quarter valued at approximately $96,689,000. Junto Capital Management LP bought a new stake in shares of Macy's during the 4th quarter valued at $48,775,000. FMR LLC increased its stake in shares of Macy's by 59.9% in the 4th quarter. FMR LLC now owns 7,503,742 shares of the company's stock worth $127,038,000 after purchasing an additional 2,812,151 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Macy's by 1,230.8% in the 4th quarter. Marshall Wace LLP now owns 2,387,193 shares of the company's stock worth $40,415,000 after purchasing an additional 2,207,809 shares in the last quarter. Finally, Cooper Creek Partners Management LLC raised its holdings in Macy's by 26.2% in the 4th quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company's stock worth $132,701,000 after purchasing an additional 1,627,572 shares during the period. Hedge funds and other institutional investors own 87.36% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. The Goldman Sachs Group lowered Macy's from a "buy" rating to a "neutral" rating and cut their price target for the company from $17.00 to $12.00 in a report on Tuesday, April 22nd. Barclays started coverage on Macy's in a research report on Monday, April 28th. They set a "cautious" rating and a $12.00 price objective on the stock. Telsey Advisory Group reduced their target price on shares of Macy's from $15.00 to $14.00 and set a "market perform" rating for the company in a report on Thursday, May 29th. UBS Group decreased their target price on shares of Macy's from $9.00 to $8.00 and set a "sell" rating on the stock in a research note on Friday, March 7th. Finally, New Street Research set a $13.00 price target on shares of Macy's in a research report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Macy's has an average rating of "Hold" and a consensus target price of $13.20.

Macy's Price Performance

NYSE M traded up $0.50 on Tuesday, reaching $12.16. The company had a trading volume of 6,644,985 shares, compared to its average volume of 6,688,406. The stock has a market capitalization of $3.30 billion, a PE ratio of 6.17 and a beta of 1.74. Macy's, Inc. has a 12 month low of $9.76 and a 12 month high of $20.47. The company has a quick ratio of 0.37, a current ratio of 1.43 and a debt-to-equity ratio of 0.62. The firm's 50 day moving average price is $11.63 and its 200 day moving average price is $13.35.

Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.01. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.38 billion. Macy's had a return on equity of 16.34% and a net margin of 2.45%. The business's quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 earnings per share. As a group, equities analysts predict that Macy's, Inc. will post 2.39 earnings per share for the current year.

Macy's Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.1824 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.00%. Macy's's dividend payout ratio is currently 37.06%.

Macy's 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.