Macy’s, Inc. (NYSE:M) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its holdings in shares of Macy’s, Inc. (NYSE:M) by 66.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,992 shares of the company’s stock after selling 15,813 shares during the period. Nisa Investment Advisors LLC’s holdings in Macy’s were worth $137,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in Macy’s by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock worth $41,765,000 after buying an additional 118,626 shares during the period. FMR LLC increased its position in shares of Macy’s by 4.4% in the third quarter. FMR LLC now owns 4,691,591 shares of the company’s stock worth $73,611,000 after acquiring an additional 195,880 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Macy’s during the third quarter valued at approximately $594,000. HB Wealth Management LLC lifted its position in shares of Macy’s by 724.1% in the 4th quarter. HB Wealth Management LLC now owns 103,584 shares of the company’s stock valued at $1,754,000 after acquiring an additional 91,015 shares in the last quarter. Finally, Alerus Financial NA acquired a new position in Macy’s in the 3rd quarter worth approximately $2,144,000. 87.36% of the stock is currently owned by institutional investors.

Macy’s Stock Performance

M stock opened at $15.76 on Friday. The firm has a 50 day moving average of $16.00 and a two-hundred day moving average of $15.80. Macy’s, Inc. has a 12 month low of $13.66 and a 12 month high of $22.10. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 26.70 and a beta of 2.07. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities analysts anticipate that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. dropped their price target on Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Morgan Stanley decreased their price objective on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday, December 12th. Gordon Haskett upgraded Macy’s from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Monday, December 16th. Finally, Argus upgraded shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Macy’s has an average rating of “Hold” and a consensus target price of $17.78.

About Macy’s

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.