State of Alaska Department of Revenue Has $500,000 Holdings in Macy’s, Inc. (NYSE:M)

State of Alaska Department of Revenue grew its holdings in Macy’s, Inc. (NYSE:M) by 7.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,911 shares of the company’s stock after buying an additional 2,175 shares during the period. State of Alaska Department of Revenue’s holdings in Macy’s were worth $500,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in M. Marshall Wace LLP grew its stake in Macy’s by 1,539.5% in the 2nd quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock valued at $67,871,000 after buying an additional 3,319,337 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Macy’s by 9.8% in the second quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company’s stock valued at $297,385,000 after purchasing an additional 1,379,476 shares during the last quarter. American Century Companies Inc. lifted its holdings in Macy’s by 18.9% during the 2nd quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock worth $90,333,000 after purchasing an additional 747,542 shares during the last quarter. Beryl Capital Management LLC acquired a new stake in Macy’s during the 1st quarter worth approximately $7,015,000. Finally, Alden Global Capital LLC boosted its stake 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 purchasing an additional 218,146 shares during the period. 87.36% of the stock is currently owned by institutional investors.

Macy’s Stock Down 4.9 %

NYSE M opened at $15.65 on Friday. Macy’s, Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $22.10. The business has a fifty day moving average price of $15.37 and a two-hundred day moving average price of $17.09. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34. The stock has a market capitalization of $4.34 billion, a PE ratio of 24.45 and a beta of 2.11.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.23. The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $5.06 billion. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. Macy’s’s revenue was down 3.8% compared to the same quarter last year. During the same period last year, the firm posted $0.26 earnings per share. Equities analysts expect that Macy’s, Inc. will post 2.72 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend is Friday, December 13th. Macy’s’s dividend payout ratio is 107.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on M shares. Evercore ISI dropped their target price on Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a report on Tuesday, July 16th. StockNews.com initiated coverage on shares of Macy’s in a research report on Saturday, November 2nd. They set a “hold” rating on the stock. Morgan Stanley dropped their price target on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Argus raised Macy’s to a “hold” rating in a research report on Thursday, October 10th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a report on Wednesday, August 21st. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.43.

Macy’s Company 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.