Rhumbline Advisers Sells 6,685 Shares of Macy’s, Inc. (NYSE:M)

Rhumbline Advisers cut its stake in shares of Macy’s, Inc. (NYSE:M) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 773,890 shares of the company’s stock after selling 6,685 shares during the period. Rhumbline Advisers owned 0.28% of Macy’s worth $13,102,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. New York State Teachers Retirement System increased its position in shares of Macy’s by 2.0% in the fourth quarter. New York State Teachers Retirement System now owns 321,508 shares of the company’s stock worth $5,443,000 after purchasing an additional 6,349 shares during the last quarter. Summit Trail Advisors LLC bought a new position in shares of Macy’s in the fourth quarter worth approximately $196,000. Savant Capital LLC increased its position in shares of Macy’s by 28.6% in the fourth quarter. Savant Capital LLC now owns 17,921 shares of the company’s stock worth $303,000 after purchasing an additional 3,985 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Macy’s in the fourth quarter worth approximately $1,922,000. Finally, State of Alaska Department of Revenue boosted its stake in Macy’s by 155.8% in the fourth quarter. State of Alaska Department of Revenue now owns 81,626 shares of the company’s stock worth $1,381,000 after buying an additional 49,715 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. StockNews.com raised Macy’s from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. Gordon Haskett lowered Macy’s from a “buy” rating to an “accumulate” rating in a research note on Thursday, February 13th. Benchmark raised Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, UBS Group cut their target price on Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Macy’s has an average rating of “Hold” and a consensus target price of $17.75.

Macy’s Stock Performance

NYSE:M opened at $15.00 on Friday. The firm has a market cap of $4.16 billion, a PE ratio of 25.42 and a beta of 2.05. Macy’s, Inc. has a fifty-two week low of $13.66 and a fifty-two 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 business has a 50 day moving average price of $15.56 and a 200-day moving average price of $15.63.

Macy’s (NYSE:M) last released its quarterly earnings data 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). Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The company had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period last year, the company posted $0.21 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities research 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.