Amundi Grows Stake in Macy’s, Inc. (NYSE:M)

Amundi grew its position in shares of Macy’s, Inc. (NYSE:M) by 43.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,449 shares of the company’s stock after purchasing an additional 6,530 shares during the period. Amundi’s holdings in Macy’s were worth $344,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Arizona State Retirement System grew its position in Macy’s by 1.2% in the fourth quarter. Arizona State Retirement System now owns 80,549 shares of the company’s stock worth $1,364,000 after acquiring an additional 958 shares in the last quarter. Pacer Advisors Inc. boosted its position in Macy’s by 2.4% during the fourth quarter. Pacer Advisors Inc. now owns 41,345 shares of the company’s stock valued at $700,000 after buying an additional 960 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Macy’s by 82.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after acquiring an additional 969 shares during the last quarter. Impact Partnership Wealth LLC raised its stake in shares of Macy’s by 7.9% during the fourth quarter. Impact Partnership Wealth LLC now owns 16,871 shares of the company’s stock valued at $286,000 after acquiring an additional 1,229 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Macy’s by 19.9% during the third quarter. KBC Group NV now owns 7,952 shares of the company’s stock valued at $125,000 after acquiring an additional 1,319 shares during the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Morgan Stanley set a $14.00 price target on shares of Macy’s in a research note on Monday, March 10th. New Street Research set a $13.00 target price on shares of Macy’s in a research note on Thursday, March 6th. Benchmark raised shares of Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. downgraded shares of Macy’s from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $19.00 to $14.00 in a research note on Thursday, March 6th. Finally, UBS Group decreased their target price on shares of Macy’s from $9.00 to $8.00 and set a “sell” rating for the company in a research note on Friday, March 7th. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, Macy’s currently has an average rating of “Hold” and an average price target of $15.30.

Macy’s Stock Down 0.8 %

M opened at $13.27 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. Macy’s, Inc. has a 1-year low of $12.60 and a 1-year high of $20.79. The company has a market capitalization of $3.68 billion, a PE ratio of 22.48 and a beta of 2.07. The firm’s 50 day simple moving average is $14.46 and its two-hundred day simple moving average is $15.32.

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

Macy’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.1824 per share. This represents a $0.73 annualized dividend and a dividend yield of 5.50%. This is an increase from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, March 14th. Macy’s’s dividend payout ratio (DPR) is presently 35.44%.

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.