Victory Capital Management Inc. Has $4.59 Million Holdings in Macy's, Inc. (NYSE:M)

Victory Capital Management Inc. raised its position in Macy's, Inc. (NYSE:M - Free Report) by 55.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 365,451 shares of the company's stock after acquiring an additional 130,457 shares during the period. Victory Capital Management Inc. owned approximately 0.13% of Macy's worth $4,590,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in M. Bessemer Group Inc. lifted its holdings in shares of Macy's by 495.5% in the fourth quarter. Bessemer Group Inc. now owns 3,412 shares of the company's stock valued at $58,000 after purchasing an additional 2,839 shares in the last quarter. Raiffeisen Bank International AG bought a new position in shares of Macy's in the fourth quarter valued at approximately $111,000. Aster Capital Management DIFC Ltd bought a new position in shares of Macy's in the fourth quarter valued at approximately $119,000. Versant Capital Management Inc lifted its holdings in shares of Macy's by 343.4% in the first quarter. Versant Capital Management Inc now owns 9,449 shares of the company's stock valued at $119,000 after purchasing an additional 7,318 shares in the last quarter. Finally, Forum Financial Management LP bought a new position in shares of Macy's in the fourth quarter valued at approximately $177,000. Institutional investors and hedge funds own 87.36% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on M. The Goldman Sachs Group lowered Macy's from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $17.00 to $12.00 in a report on Tuesday, April 22nd. JPMorgan Chase & Co. dropped their price target on Macy's from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Morgan Stanley reiterated a "negative" rating on shares of Macy's in a report on Tuesday, May 6th. 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. Finally, Telsey Advisory Group lowered their target price on Macy's from $15.00 to $14.00 and set a "market perform" rating on the stock in a research note on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $12.78.

Macy's Trading Up 3.0%

NYSE M opened at $13.09 on Friday. Macy's, Inc. has a 1-year low of $9.76 and a 1-year high of $18.13. The company has a current ratio of 1.43, a quick ratio of 0.37 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average of $11.94 and a 200-day moving average of $12.81. The firm has a market cap of $3.55 billion, a PE ratio of 6.64 and a beta of 1.71.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.01. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.38 billion. Macy's had a return on equity of 16.34% and a net margin of 2.45%. Macy's's quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 EPS. As a group, sell-side analysts forecast that Macy's, Inc. will post 2.39 EPS for the current year.

Macy's Announces Dividend

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

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