JPMorgan Chase & Co. Has $14.56 Million Stock Position in Macy’s, Inc. (NYSE:M)

JPMorgan Chase & Co. lowered its stake in Macy’s, Inc. (NYSE:M) by 3.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 927,990 shares of the company’s stock after selling 28,482 shares during the period. JPMorgan Chase & Co. owned approximately 0.33% of Macy’s worth $14,560,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Quest Partners LLC acquired a new position in shares of Macy’s during the 3rd quarter worth $35,000. Venturi Wealth Management LLC grew its position in Macy’s by 282.7% in the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after acquiring an additional 1,685 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in Macy’s during the third quarter worth about $39,000. Abich Financial Wealth Management LLC bought a new position in shares of Macy’s in the second quarter worth about $57,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Macy’s in the 2nd quarter valued at approximately $62,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. StockNews.com downgraded Macy’s from a “buy” rating to a “hold” rating in a research report on Thursday, December 26th. Gordon Haskett upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Monday, December 16th. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Argus upgraded Macy’s to a “hold” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut their target price on Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Macy’s currently has an average rating of “Hold” and a consensus target price of $17.78.

Macy’s Price Performance

Shares of NYSE M opened at $15.89 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.34 and a debt-to-equity ratio of 0.67. The stock has a fifty day simple moving average of $16.18 and a two-hundred day simple moving average of $16.22. Macy’s, Inc. has a 1-year low of $14.06 and a 1-year high of $22.10. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of 26.93 and a beta of 2.07.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) 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 analysts’ expectations 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 was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS. Analysts anticipate that Macy’s, Inc. will post 2.4 earnings per share for the current year.

Macy’s Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were given a dividend of $0.1737 per share. The ex-dividend date was Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.37%. Macy’s’s dividend payout ratio (DPR) is currently 116.95%.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.