Macy’s, Inc. (NYSE:M) Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its position in Macy’s, Inc. (NYSE:M) by 13.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,512,142 shares of the company’s stock after buying an additional 411,412 shares during the quarter. Allianz Asset Management GmbH owned about 1.26% of Macy’s worth $59,461,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Quest Partners LLC purchased a new stake in shares of Macy’s during the third quarter valued at $35,000. Venturi Wealth Management LLC lifted its holdings in shares of Macy’s by 282.7% during the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after purchasing an additional 1,685 shares during the last quarter. Kestra Investment Management LLC acquired a new position in Macy’s during the fourth quarter valued at $38,000. Huntington National Bank raised its position 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 during the period. Finally, Blue Trust Inc. raised its position 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 during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Stock Performance

Shares of M stock opened at $15.00 on Friday. 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, Inc. has a fifty-two week low of $13.66 and a fifty-two week high of $22.10. The stock’s 50-day moving average is $15.56 and its two-hundred day moving average is $15.63. The firm has a market cap of $4.16 billion, a P/E ratio of 25.42 and a beta of 2.05.

Macy’s (NYSE:M) last issued its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The firm 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%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 earnings per share. Analysts predict that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on M shares. StockNews.com raised Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Benchmark raised Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price target on Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Telsey Advisory Group reissued a “market perform” rating and set a $17.00 price target on shares of Macy’s in a research report on Tuesday, January 14th. Finally, Guggenheim reissued a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average 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.