6,765 Shares in Macy’s, Inc. (NYSE:M) Acquired by Vestcor Inc

Vestcor Inc acquired a new position in shares of Macy’s, Inc. (NYSE:M) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 6,765 shares of the company’s stock, valued at approximately $115,000.

Other institutional investors have also recently modified their holdings of the company. Trifecta Capital Advisors LLC acquired a new position in shares of Macy’s during the 4th quarter worth approximately $34,000. Quest Partners LLC acquired a new position in Macy’s in the 3rd quarter valued at $35,000. Jones Financial Companies Lllp raised its holdings in Macy’s by 82.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after acquiring an additional 969 shares during the last quarter. Kestra Investment Management LLC acquired a new position in Macy’s in the 4th quarter valued at $38,000. Finally, Huntington National Bank raised its holdings in Macy’s by 937.4% in the 3rd quarter. Huntington National Bank now owns 4,637 shares of the company’s stock valued at $73,000 after acquiring an additional 4,190 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy’s Trading Down 1.8 %

M stock opened at $13.57 on Wednesday. The business has a fifty day simple moving average of $14.61 and a 200-day simple moving average of $15.37. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. Macy’s, Inc. has a 52 week low of $12.60 and a 52 week high of $22.10. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 22.99 and a beta of 2.07.

Macy’s (NYSE:M) last announced its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.25. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The firm had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.76 billion. On average, equities research analysts expect that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a yield of 5.38%. This is a boost from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, March 14th. Macy’s’s dividend payout ratio is 35.44%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on M. Benchmark upgraded Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. Telsey Advisory Group set a $15.00 price target on Macy’s in a report on Friday, March 7th. New Street Research set a $13.00 price target on Macy’s in a report on Thursday, March 6th. UBS Group cut their price target on Macy’s from $9.00 to $8.00 and set a “sell” rating for the company in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. downgraded Macy’s from an “overweight” rating to a “neutral” rating and cut their price target for the company from $19.00 to $14.00 in a report on Thursday, March 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $15.30.

Macy’s Company Profile

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.