Royce & Associates LP Increases Stock Holdings in Macy's, Inc. (NYSE:M)

Royce & Associates LP grew its holdings in Macy's, Inc. (NYSE:M - Free Report) by 6.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,536,500 shares of the company's stock after buying an additional 91,500 shares during the quarter. Royce & Associates LP owned approximately 0.55% of Macy's worth $19,298,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in M. Norges Bank bought a new position in Macy's in the 4th quarter valued at $96,689,000. Junto Capital Management LP acquired a new position in shares of Macy's during the fourth quarter valued at $48,775,000. FMR LLC boosted its holdings in 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 during the last quarter. Marshall Wace LLP increased its position 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 during the period. Finally, Cooper Creek Partners Management LLC raised its holdings in Macy's by 26.2% during 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 last quarter. 87.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on M. Barclays began coverage on Macy's in a research note on Monday, April 28th. They issued a "cautious" rating and a $12.00 price target for the company. JPMorgan Chase & Co. lowered their target price on shares of Macy's from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, May 29th. Citigroup reissued a "neutral" rating and set a $12.00 price target (up from $11.00) on shares of Macy's in a research report on Thursday, May 29th. The Goldman Sachs Group cut shares of Macy's from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $17.00 to $12.00 in a research report on Tuesday, April 22nd. Finally, Telsey Advisory Group reduced their target price on Macy's from $15.00 to $14.00 and set a "market perform" rating on the stock in a report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $12.78.

Macy's Trading Up 3.0%

Shares of NYSE:M traded up $0.39 during trading on Friday, reaching $13.09. The stock had a trading volume of 6,730,074 shares, compared to its average volume of 7,090,456. Macy's, Inc. has a 52 week low of $9.76 and a 52 week high of $18.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.37 and a current ratio of 1.43. The firm's fifty day moving average is $11.94 and its 200 day moving average is $12.84. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 6.64 and a beta of 1.71.

Macy's (NYSE:M - Get Free Report) last issued 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 company 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%. The firm's quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 EPS. As a group, equities analysts forecast that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Macy's Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were paid a $0.1824 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.73 dividend on an annualized basis and a yield of 5.58%. Macy's's dividend payout ratio (DPR) 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.