New York State Teachers Retirement System Boosts Stake in Macy’s, Inc. (NYSE:M)

New York State Teachers Retirement System increased its position in shares of Macy’s, Inc. (NYSE:M) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 321,508 shares of the company’s stock after purchasing an additional 6,349 shares during the quarter. New York State Teachers Retirement System owned 0.12% of Macy’s worth $5,443,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quest Partners LLC acquired a new position in Macy’s in the third quarter valued at $35,000. Venturi Wealth Management LLC lifted its stake in shares of Macy’s by 282.7% in the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after acquiring an additional 1,685 shares in the last quarter. Huntington National Bank raised its stake in Macy’s by 937.4% during the third quarter. Huntington National Bank now owns 4,637 shares of the company’s stock valued at $73,000 after buying an additional 4,190 shares in the last quarter. Blue Trust Inc. raised its stake in Macy’s by 619.1% during the third quarter. Blue Trust Inc. now owns 4,868 shares of the company’s stock valued at $76,000 after buying an additional 4,191 shares in the last quarter. Finally, Tompkins Financial Corp acquired a new stake in Macy’s during the fourth quarter valued at approximately $102,000. 87.36% of the stock is owned by institutional investors and hedge funds.

Macy’s Price Performance

Shares of NYSE:M opened at $15.80 on Friday. Macy’s, Inc. has a fifty-two week low of $13.66 and a fifty-two week high of $22.10. The business has a 50-day moving average of $15.59 and a two-hundred day moving average of $15.63. The stock has a market capitalization of $4.39 billion, a P/E ratio of 26.77 and a beta of 2.05. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Benchmark upgraded Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. Morgan Stanley lowered their price target on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 12th. JPMorgan Chase & Co. decreased 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, January 8th. Telsey Advisory Group restated a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a report on Tuesday, January 14th. Finally, StockNews.com raised Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Macy’s has a consensus rating of “Hold” and a consensus price target of $17.75.

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.