Retirement Systems of Alabama Boosts Holdings in Macy’s, Inc. (NYSE:M)

Retirement Systems of Alabama increased its holdings in Macy’s, Inc. (NYSE:M) by 0.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 783,879 shares of the company’s stock after purchasing an additional 1,488 shares during the period. Retirement Systems of Alabama owned approximately 0.28% of Macy’s worth $13,271,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in M. Quest Partners LLC bought a new stake in Macy’s in the third quarter valued at approximately $35,000. Venturi Wealth Management LLC increased 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 buying an additional 1,685 shares during the period. Future Financial Wealth Managment LLC bought a new stake in Macy’s during the 3rd quarter valued at $39,000. Huntington National Bank boosted its position in Macy’s by 937.4% during the 3rd 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 during the period. Finally, Blue Trust Inc. grew its holdings in Macy’s by 619.1% in the 3rd quarter. Blue Trust Inc. now owns 4,868 shares of the company’s stock worth $76,000 after acquiring an additional 4,191 shares during the last quarter. Institutional investors own 87.36% of the company’s stock.

Macy’s Stock Performance

Shares of Macy’s stock opened at $14.27 on Friday. Macy’s, Inc. has a 12 month low of $13.66 and a 12 month high of $22.10. The firm has a market capitalization of $3.96 billion, a P/E ratio of 24.18 and a beta of 2.06. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The business has a fifty day simple moving average of $15.87 and a two-hundred day simple moving average of $15.73.

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). The business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The company’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the business earned $0.21 earnings per share. On average, equities analysts forecast that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. UBS Group lowered their price target on Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 price objective on shares of Macy’s in a research report on Tuesday, January 14th. Gordon Haskett upgraded Macy’s from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. cut their price target on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Macy’s currently has a consensus rating of “Hold” and an average target price 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.