New York State Teachers Retirement System Has $3.75 Million Position in Macy's, Inc. (NYSE:M)

New York State Teachers Retirement System lessened its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 7.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 298,817 shares of the company's stock after selling 22,691 shares during the period. New York State Teachers Retirement System owned 0.11% of Macy's worth $3,753,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue increased its holdings in Macy's by 126.0% during the 1st quarter. State of Alaska Department of Revenue now owns 184,511 shares of the company's stock worth $2,317,000 after purchasing an additional 102,885 shares in the last quarter. GAMMA Investing LLC increased its holdings in Macy's by 1,188.7% during the first quarter. GAMMA Investing LLC now owns 44,086 shares of the company's stock worth $554,000 after buying an additional 40,665 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Macy's by 2.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 45,105 shares of the company's stock worth $764,000 after purchasing an additional 1,122 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Macy's by 15.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 23,908 shares of the company's stock valued at $405,000 after buying an additional 3,127 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in Macy's in the 4th quarter valued at about $621,000. Institutional investors own 87.36% of the company's stock.

Macy's Stock Up 0.2%

M stock opened at $12.50 on Monday. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 6.35 and a beta of 1.71. The company has a current ratio of 1.43, a quick ratio of 0.37 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 $19.71. The firm has a 50-day moving average of $11.75 and a two-hundred day moving average of $13.24.

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, beating the consensus estimate of $0.15 by $0.01. The business had revenue of $4.60 billion during 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 business's revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 EPS. As a group, analysts forecast that Macy's, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy's Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a yield of 5.84%. The ex-dividend date of this dividend was Friday, June 13th. Macy's's dividend payout ratio is currently 37.06%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Barclays began coverage on Macy's in a research report on Monday, April 28th. They set a "cautious" rating and a $12.00 price target for the company. Telsey Advisory Group cut their target price on shares of Macy's from $15.00 to $14.00 and set a "market perform" rating on the stock in a report on Thursday, May 29th. The Goldman Sachs Group lowered Macy's from a "buy" rating to a "neutral" rating and lowered their price target for the company from $17.00 to $12.00 in a research report on Tuesday, April 22nd. Citigroup reaffirmed a "neutral" rating and set a $12.00 target price (up previously from $11.00) on shares of Macy's in a research note on Thursday, May 29th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Macy's from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $13.20.

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.

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