Allspring Global Investments Holdings LLC Buys 150,849 Shares of Macy’s, Inc. (NYSE:M)

Allspring Global Investments Holdings LLC lifted its position in Macy’s, Inc. (NYSE:M) by 1,695.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 159,747 shares of the company’s stock after purchasing an additional 150,849 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.06% of Macy’s worth $3,193,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. SummerHaven Investment Management LLC increased its holdings in shares of Macy’s by 1.3% in the 4th quarter. SummerHaven Investment Management LLC now owns 43,046 shares of the company’s stock worth $866,000 after buying an additional 554 shares during the last quarter. Private Advisor Group LLC increased its position in shares of Macy’s by 3.5% during the 4th quarter. Private Advisor Group LLC now owns 17,847 shares of the company’s stock valued at $359,000 after purchasing an additional 603 shares during the last quarter. Glassman Wealth Services raised its holdings in shares of Macy’s by 154.5% during the 4th quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock valued at $25,000 after buying an additional 743 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Macy’s by 13.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 6,900 shares of the company’s stock worth $139,000 after buying an additional 800 shares during the last quarter. Finally, Yousif Capital Management LLC boosted its stake in Macy’s by 0.6% in the fourth quarter. Yousif Capital Management LLC now owns 140,135 shares of the company’s stock worth $2,820,000 after buying an additional 841 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on M shares. TD Cowen boosted their price objective on shares of Macy’s from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, May 22nd. StockNews.com began coverage on Macy’s in a research report on Thursday, June 27th. They set a “hold” rating on the stock. Telsey Advisory Group reiterated a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a research report on Tuesday, May 21st. Finally, JPMorgan Chase & Co. raised their target price on shares of Macy’s from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Macy’s currently has a consensus rating of “Hold” and an average price target of $17.70.

Macy’s Trading Down 2.3 %

NYSE:M opened at $17.83 on Wednesday. Macy’s, Inc. has a 12 month low of $10.54 and a 12 month high of $22.10. The company has a current ratio of 1.38, a quick ratio of 0.35 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average price of $19.05 and a 200-day moving average price of $19.27. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 594.33 and a beta of 2.18.

Macy’s (NYSE:M) last posted its quarterly earnings data on Tuesday, May 21st. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.12. Macy’s had a return on equity of 21.40% and a net margin of 0.05%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the previous year, the firm posted $0.56 EPS. The business’s revenue was down 2.7% on a year-over-year basis. Equities analysts predict that Macy’s, Inc. will post 2.79 EPS for the current year.

Macy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were given a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a yield of 3.90%. The ex-dividend date was Friday, June 14th. Macy’s’s dividend payout ratio is currently 2,300.00%.

About Macy’s

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.