Macy’s, Inc. (NYSE:M) Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama grew its position in shares of Macy’s, Inc. (NYSE:M) by 57.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 782,391 shares of the company’s stock after purchasing an additional 286,879 shares during the period. Retirement Systems of Alabama’s holdings in Macy’s were worth $12,276,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Marshall Wace LLP increased its stake in shares of Macy’s by 1,539.5% in the second quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock worth $67,871,000 after buying an additional 3,319,337 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Macy’s by 9.8% during the second quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company’s stock valued at $297,385,000 after acquiring an additional 1,379,476 shares during the period. American Century Companies Inc. boosted its holdings in shares of Macy’s by 18.9% during the second quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock valued at $90,333,000 after acquiring an additional 747,542 shares during the period. Barington Capital Group L.P. lifted its holdings in Macy’s by 550.0% in the third quarter. Barington Capital Group L.P. now owns 650,000 shares of the company’s stock worth $10,198,000 after purchasing an additional 550,000 shares during the period. Finally, Alden Global Capital LLC grew its position in Macy’s by 56.1% in the 2nd quarter. Alden Global Capital LLC now owns 606,741 shares of the company’s stock valued at $11,649,000 after buying an additional 218,146 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Morgan Stanley decreased their target price on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday. StockNews.com lowered shares of Macy’s from a “buy” rating to a “hold” rating in a research note on Friday. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a research note on Thursday. Telsey Advisory Group reissued a “market perform” rating and issued a $17.00 price target on shares of Macy’s in a research report on Wednesday, December 11th. Finally, Argus raised shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $18.38.

Macy’s Trading Up 1.5 %

Shares of M stock opened at $16.56 on Monday. Macy’s, Inc. has a 12 month low of $14.06 and a 12 month high of $22.10. The company has a quick ratio of 0.34, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The business’s 50 day moving average is $15.79 and its two-hundred day moving average is $16.46. The company has a market cap of $4.59 billion, a PE ratio of 28.07 and a beta of 2.10.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03). The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.74 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the business earned $0.21 EPS. Equities analysts predict that Macy’s, Inc. will post 2.38 EPS for the current year.

Macy’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.1737 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.20%. Macy’s’s payout ratio is 116.95%.

Macy’s Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.