Readystate Asset Management LP lifted its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 64.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 445,880 shares of the company's stock after purchasing an additional 174,169 shares during the quarter. Readystate Asset Management LP owned about 0.16% of Macy's worth $5,600,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in M. Norges Bank acquired a new stake in Macy's in the 4th quarter valued at $96,689,000. Junto Capital Management LP acquired a new position in Macy's during the 4th quarter worth $48,775,000. FMR LLC grew its stake in Macy's by 59.9% in the fourth 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 grew its stake in Macy's by 1,230.8% in the fourth 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 grew its stake in 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 worth $132,701,000 after purchasing an additional 1,627,572 shares in the last quarter. Institutional investors and hedge funds own 87.36% of the company's stock.
Macy's Price Performance
M stock traded up $0.39 on Friday, hitting $13.09. 6,730,074 shares of the company's stock traded hands, compared to its average volume of 7,090,456. Macy's, Inc. has a 1-year low of $9.76 and a 1-year high of $18.13. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 6.64 and a beta of 1.71. The stock has a fifty day moving average of $11.94 and a 200-day moving average of $12.81. 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 (NYSE:M - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.01. Macy's had a net margin of 2.45% and a return on equity of 16.34%. The firm had revenue of $4.60 billion for the quarter, compared to analysts' expectations of $4.38 billion. During the same period in the previous year, the company posted $0.27 EPS. The company's quarterly revenue was down 5.1% compared to the same quarter last year. On average, analysts forecast that Macy's, Inc. will post 2.39 EPS for the current fiscal year.
Macy's Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were given a $0.1824 dividend. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date of this dividend was Friday, June 13th. Macy's's dividend payout ratio (DPR) is 37.06%.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group lowered shares of Macy's from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $17.00 to $12.00 in a research note on Tuesday, April 22nd. Morgan Stanley restated a "negative" rating on shares of Macy's in a research note on Tuesday, May 6th. JPMorgan Chase & Co. decreased their target price on Macy's from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, May 29th. Barclays initiated coverage on Macy's in a research note 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 issued a $12.00 target price (up from $11.00) on shares of Macy's in a research note 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $12.78.
Read Our Latest Report on Macy's
Macy's Profile
(
Free Report)
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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