Macy's, Inc. $M Stock Holdings Lifted by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC has significantly increased its stake in Macy's, Inc. by 173.9% in the first quarter, owning 85,939 shares valued at approximately $1,087,000.
• Multiple analysts have adjusted their price targets for Macy's shares, with JPMorgan raising it from $12.00 to $16.00 and Citigroup increasing it to $12.00.
• Macy's has announced a quarterly dividend of $0.1824 per share, with a yield of 5.5%, to be paid on October 1st for shareholders of record by September 15th.

Hsbc Holdings PLC lifted its stake in shares of Macy's, Inc. (NYSE:M - Free Report) by 173.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,939 shares of the company's stock after acquiring an additional 54,558 shares during the quarter. Hsbc Holdings PLC's holdings in Macy's were worth $1,087,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of M. Summit Securities Group LLC lifted its holdings in shares of Macy's by 106.0% during the first quarter. Summit Securities Group LLC now owns 2,200 shares of the company's stock valued at $28,000 after purchasing an additional 38,800 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Macy's during the 1st quarter worth about $29,000. Raiffeisen Bank International AG acquired a new stake in Macy's during the 4th quarter worth about $111,000. Versant Capital Management Inc lifted its stake in Macy's by 343.4% during the first quarter. Versant Capital Management Inc now owns 9,449 shares of the company's stock valued at $119,000 after buying an additional 7,318 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC acquired a new position in shares of Macy's in the first quarter worth about $142,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on M shares. JPMorgan Chase & Co. lifted their target price on shares of Macy's from $12.00 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Telsey Advisory Group reiterated a "market perform" rating and set a $14.00 price objective on shares of Macy's in a research report on Wednesday. Citigroup reissued a "neutral" rating and set a $12.00 target price (up from $11.00) on shares of Macy's in a research note on Thursday, May 29th. Finally, Morgan Stanley reaffirmed a "negative" rating on shares of Macy's in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $13.22.

Macy's Trading Down 0.9%

Shares of NYSE:M opened at $13.24 on Friday. The firm has a fifty day moving average of $12.50 and a two-hundred day moving average of $12.49. The company has a quick ratio of 0.37, a current ratio of 1.43 and a debt-to-equity ratio of 0.62. Macy's, Inc. has a 12-month low of $9.76 and a 12-month high of $18.13. The firm has a market capitalization of $3.59 billion, a P/E ratio of 6.72 and a beta of 1.79.

Macy's (NYSE:M - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.01. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.38 billion. Macy's had a net margin of 2.45% and a return on equity of 16.34%. Macy's's revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.27 earnings per share. On average, equities analysts expect that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Macy's Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a dividend of $0.1824 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.5%. Macy's's dividend payout ratio (DPR) is 37.06%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.