Bailard Inc. Acquires New Holdings in Macy’s, Inc. (NYSE:M)

Bailard Inc. acquired a new position in Macy’s, Inc. (NYSE:M) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 44,928 shares of the company’s stock, valued at approximately $761,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Barington Capital Group L.P. increased its position in shares of Macy’s by 550.0% during the 3rd quarter. Barington Capital Group L.P. now owns 650,000 shares of the company’s stock valued at $10,198,000 after purchasing an additional 550,000 shares during the period. Bank of New York Mellon Corp boosted its stake in Macy’s by 14.5% during the fourth quarter. Bank of New York Mellon Corp now owns 3,314,572 shares of the company’s stock valued at $56,116,000 after buying an additional 419,261 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in Macy’s by 13.3% during the fourth quarter. Allianz Asset Management GmbH now owns 3,512,142 shares of the company’s stock worth $59,461,000 after acquiring an additional 411,412 shares during the period. Lind Value II ApS acquired a new position in Macy’s during the fourth quarter worth about $6,733,000. Finally, Retirement Systems of Alabama raised its position in Macy’s by 57.9% in the third quarter. Retirement Systems of Alabama now owns 782,391 shares of the company’s stock worth $12,276,000 after acquiring an additional 286,879 shares in the last quarter. Institutional investors own 87.36% of the company’s stock.

Macy’s Stock Down 2.2 %

NYSE:M opened at $14.04 on Tuesday. The business’s fifty day moving average price is $15.33 and its 200 day moving average price is $15.56. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 23.80 and a beta of 2.05. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. Macy’s, Inc. has a 1-year low of $13.66 and a 1-year high of $22.10.

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 analysts’ consensus estimates of $0.07 by ($0.03). The business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.74 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. Macy’s’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS. On average, sell-side analysts forecast that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.1824 dividend. This is an increase from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.73 dividend on an annualized basis and a yield of 5.20%. Macy’s’s dividend payout ratio is presently 116.95%.

Wall Street Analyst Weigh In

M has been the subject of several research reports. UBS Group reduced their price objective on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. Gordon Haskett lowered shares of Macy’s from a “buy” rating to an “accumulate” rating in a research report on Thursday, February 13th. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Benchmark raised Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley decreased their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $17.14.

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.