PNC Financial Services Group Inc. Has $405,000 Position in Macy’s, Inc. (NYSE:M)

PNC Financial Services Group Inc. boosted its holdings in Macy’s, Inc. (NYSE:M) by 15.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,908 shares of the company’s stock after buying an additional 3,127 shares during the period. PNC Financial Services Group Inc.’s holdings in Macy’s were worth $405,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of M. Trifecta Capital Advisors LLC acquired a new position in Macy’s in the fourth quarter worth about $34,000. Quest Partners LLC bought a new stake in shares of Macy’s in the 3rd quarter valued at approximately $35,000. Jones Financial Companies Lllp raised its holdings in shares of Macy’s by 82.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after buying an additional 969 shares in the last quarter. Kestra Investment Management LLC bought a new position in shares of Macy’s during the 4th quarter worth approximately $38,000. Finally, Tompkins Financial Corp acquired a new stake in Macy’s in the 4th quarter valued at $102,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

M has been the topic of several research reports. Telsey Advisory Group set a $15.00 price target on shares of Macy’s in a research report on Friday, March 7th. Cowen reiterated a “hold” rating on shares of Macy’s in a research report on Friday, March 7th. Morgan Stanley set a $14.00 price target on shares of Macy’s in a report on Monday, March 10th. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. cut Macy’s from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $19.00 to $14.00 in a research note on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.30.

Macy’s Trading Down 1.9 %

NYSE M opened at $13.39 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The business has a fifty day simple moving average of $14.51 and a 200 day simple moving average of $15.34. Macy’s, Inc. has a 12 month low of $12.60 and a 12 month high of $21.31. The firm has a market capitalization of $3.72 billion, a P/E ratio of 22.69 and a beta of 2.07.

Macy’s (NYSE:M) last released its 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. The company had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.76 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. On average, analysts predict that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.1824 per share. The ex-dividend date is Friday, March 14th. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a yield of 5.45%. Macy’s’s payout ratio is presently 35.44%.

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.