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

Pacer Advisors Inc. increased its holdings in shares of Macy’s, Inc. (NYSE:M) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,345 shares of the company’s stock after purchasing an additional 960 shares during the quarter. Pacer Advisors Inc.’s holdings in Macy’s were worth $700,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Barington Capital Group L.P. grew its holdings in Macy’s by 550.0% during the 3rd quarter. Barington Capital Group L.P. now owns 650,000 shares of the company’s stock valued at $10,198,000 after buying an additional 550,000 shares in the last quarter. Lind Value II ApS purchased a new position in Macy’s during the 4th quarter valued at approximately $6,733,000. Retirement Systems of Alabama grew its holdings in Macy’s by 57.9% during the 3rd quarter. Retirement Systems of Alabama now owns 782,391 shares of the company’s stock valued at $12,276,000 after buying an additional 286,879 shares in the last quarter. FMR LLC grew its holdings in Macy’s by 4.4% during the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company’s stock valued at $73,611,000 after buying an additional 195,880 shares in the last quarter. Finally, Invenomic Capital Management LP grew its holdings in Macy’s by 32.3% during the 3rd quarter. Invenomic Capital Management LP now owns 795,687 shares of the company’s stock valued at $12,484,000 after buying an additional 194,443 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Analyst Ratings Changes

M has been the subject of several research analyst reports. Argus upgraded Macy’s to a “hold” rating in a report on Thursday, October 10th. Morgan Stanley lowered their price objective on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $17.00 price objective on shares of Macy’s in a research note on Tuesday, January 14th. StockNews.com raised Macy’s from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lowered their price objective on Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $17.75.

Macy’s Price Performance

Shares of M stock opened at $15.24 on Tuesday. Macy’s, Inc. has a 52-week low of $13.66 and a 52-week high of $22.10. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The firm has a market capitalization of $4.23 billion, a P/E ratio of 25.83 and a beta of 2.06. The stock has a 50 day moving average price of $15.97 and a 200 day moving average price of $15.77.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the prior year, the business posted $0.21 earnings per share. Macy’s’s revenue was down 2.4% on a year-over-year basis. As a group, sell-side analysts predict that Macy’s, Inc. will post 2.39 earnings per share for the current year.

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.