Macy’s, Inc. (NYSE:M) Shares Acquired by KBC Group NV

KBC Group NV boosted its position in shares of Macy’s, Inc. (NYSE:M) by 47.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,718 shares of the company’s stock after buying an additional 3,766 shares during the quarter. KBC Group NV’s holdings in Macy’s were worth $198,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in shares of Macy’s during the third quarter worth $35,000. Venturi Wealth Management LLC raised its holdings in Macy’s by 282.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after buying an additional 1,685 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in Macy’s during the third quarter valued at about $39,000. Huntington National Bank boosted its holdings in shares of Macy’s by 937.4% in the third quarter. Huntington National Bank now owns 4,637 shares of the company’s stock worth $73,000 after buying an additional 4,190 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Macy’s by 619.1% in the third quarter. Blue Trust Inc. now owns 4,868 shares of the company’s stock worth $76,000 after acquiring an additional 4,191 shares in the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

M has been the topic of several recent analyst reports. Telsey Advisory Group reissued a “market perform” rating and set a $17.00 price target on shares of Macy’s in a research report on Tuesday, January 14th. Morgan Stanley dropped their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. JPMorgan Chase & Co. lowered their price objective on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. Finally, Gordon Haskett raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $17.75.

Macy’s Price Performance

NYSE:M opened at $15.09 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. Macy’s, Inc. has a one year low of $13.66 and a one year high of $22.10. The company has a fifty day moving average price of $15.96 and a 200 day moving average price of $15.76. The stock has a market cap of $4.19 billion, a P/E ratio of 25.57 and a beta of 2.06.

Macy’s (NYSE:M) last released 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). The firm had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.74 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 earnings per share. Analysts anticipate that Macy’s, Inc. will post 2.39 earnings per share for the current year.

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.