Jones Financial Companies Lllp Has $36,000 Stock Position in Macy’s, Inc. (NYSE:M)

Jones Financial Companies Lllp increased its position in shares of Macy’s, Inc. (NYSE:M) by 82.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,149 shares of the company’s stock after buying an additional 969 shares during the quarter. Jones Financial Companies Lllp’s holdings in Macy’s were worth $36,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in M. Atria Investments Inc purchased a new stake in shares of Macy’s in the third quarter worth approximately $211,000. Victory Capital Management Inc. raised its stake in shares of Macy’s by 3.9% in the third quarter. Victory Capital Management Inc. now owns 410,710 shares of the company’s stock worth $6,444,000 after purchasing an additional 15,401 shares during the last quarter. KBC Group NV raised its stake in shares of Macy’s by 19.9% in the third quarter. KBC Group NV now owns 7,952 shares of the company’s stock worth $125,000 after purchasing an additional 1,319 shares during the last quarter. Huntington National Bank raised its stake 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 purchasing an additional 4,190 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Macy’s by 94.4% in the third quarter. Empowered Funds LLC now owns 54,704 shares of the company’s stock worth $858,000 after purchasing an additional 26,557 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on M. UBS Group lowered their price objective on Macy’s from $9.00 to $8.00 and set a “sell” rating for the company in a research note on Friday, March 7th. JPMorgan Chase & Co. downgraded Macy’s from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $19.00 to $14.00 in a research report on Thursday, March 6th. Benchmark raised Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. Citigroup decreased their price target on Macy’s from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $15.30.

Macy’s Price Performance

Macy’s stock opened at $13.57 on Wednesday. Macy’s, Inc. has a one year low of $12.60 and a one year high of $22.10. The business has a fifty day moving average price of $14.61 and a 200-day moving average price of $15.37. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. The firm has a market capitalization of $3.77 billion, a P/E ratio of 22.99 and a beta of 2.07.

Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.25. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The firm had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. As a group, equities research analysts forecast that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.1824 dividend. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.38%. The ex-dividend date is Friday, March 14th. Macy’s’s dividend payout ratio (DPR) is presently 35.44%.

Macy’s 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.