State of Alaska Department of Revenue Buys 49,715 Shares of Macy’s, Inc. (NYSE:M)

State of Alaska Department of Revenue raised its stake in shares of Macy’s, Inc. (NYSE:M) by 155.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,626 shares of the company’s stock after acquiring an additional 49,715 shares during the quarter. State of Alaska Department of Revenue’s holdings in Macy’s were worth $1,381,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Quest Partners LLC purchased a new stake in shares of Macy’s during the 3rd quarter valued at $35,000. Venturi Wealth Management LLC raised its stake in shares of Macy’s by 282.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after buying an additional 1,685 shares during the last quarter. Huntington National Bank raised its stake in shares of Macy’s by 937.4% during the 3rd quarter. Huntington National Bank now owns 4,637 shares of the company’s stock valued at $73,000 after buying an additional 4,190 shares during the last quarter. Blue Trust Inc. grew its position in shares of Macy’s by 619.1% during the 3rd quarter. Blue Trust Inc. now owns 4,868 shares of the company’s stock valued at $76,000 after acquiring an additional 4,191 shares during the period. Finally, Tompkins Financial Corp purchased a new position in shares of Macy’s in the 4th quarter valued at about $102,000. Institutional investors own 87.36% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Benchmark upgraded Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. decreased their target price 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. Guggenheim reissued a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. UBS Group decreased their price objective on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a report 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 equities research analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Macy’s presently has a consensus rating of “Hold” and a consensus price target of $17.75.

Macy’s Stock Up 0.9 %

Shares of NYSE M opened at $14.80 on Thursday. The stock has a market cap of $4.11 billion, a PE ratio of 25.08 and a beta of 2.05. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. Macy’s, Inc. has a 12-month low of $13.66 and a 12-month high of $22.10. The company has a 50-day moving average of $15.74 and a 200 day moving average of $15.68.

Macy’s (NYSE:M) last issued its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share 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 return on equity of 21.99% and a net margin of 0.73%. The company’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 earned $0.21 earnings per share. As a group, sell-side analysts predict that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Company Profile

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.