Stephens Inc. AR Acquires 100,000 Shares of Macy's, Inc. (NYSE:M)

Stephens Inc. AR lifted its stake in Macy's, Inc. (NYSE:M - Free Report) by 1,000.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,000 shares of the company's stock after buying an additional 100,000 shares during the period. Stephens Inc. AR's holdings in Macy's were worth $1,382,000 at the end of the most recent quarter.

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

Macy's Stock Down 0.4%

Shares of NYSE M traded down $0.05 during trading on Friday, reaching $11.95. 5,667,299 shares of the stock were exchanged, compared to its average volume of 6,621,945. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 6.07 and a beta of 1.71. The business's 50-day moving average price is $11.89 and its 200 day moving average price is $12.94. 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 twelve month low of $9.76 and a twelve month high of $18.13.

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 (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. The firm had revenue of $4.60 billion for the quarter, compared to analysts' expectations of $4.38 billion. Macy's had a net margin of 2.45% and a return on equity of 16.34%. The firm's quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 earnings per share. As a group, equities analysts forecast 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 was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were given a dividend of $0.1824 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.73 annualized dividend and a dividend yield of 6.11%. Macy's's dividend payout ratio is currently 37.06%.

Analyst Upgrades and Downgrades

M has been the subject of several recent analyst reports. Telsey Advisory Group reduced their price objective on shares of Macy's from $15.00 to $14.00 and set a "market perform" rating for the company in a research note on Thursday, May 29th. The Goldman Sachs Group cut shares of Macy's from a "buy" rating to a "neutral" rating and dropped their target price for the company from $17.00 to $12.00 in a report on Tuesday, April 22nd. Morgan Stanley reaffirmed a "negative" rating on shares of Macy's in a report on Tuesday, May 6th. Barclays initiated coverage on shares of Macy's in a report on Monday, April 28th. They issued a "cautious" rating and a $12.00 target price for the company. Finally, Citigroup restated a "neutral" rating and set a $12.00 target price (up previously from $11.00) on shares of Macy's in a research report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $12.78.

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.