SBI Securities Co. Ltd. Takes $140,000 Position in Macy’s, Inc. (NYSE:M)

SBI Securities Co. Ltd. purchased a new stake in Macy’s, Inc. (NYSE:M) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 8,243 shares of the company’s stock, valued at approximately $140,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. boosted its stake in Macy’s by 2.4% during the 4th quarter. Pacer Advisors Inc. now owns 41,345 shares of the company’s stock valued at $700,000 after purchasing an additional 960 shares during the period. Jones Financial Companies Lllp boosted its stake in Macy’s by 82.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after purchasing an additional 969 shares during the period. Impact Partnership Wealth LLC boosted its stake in Macy’s by 7.9% during the 4th quarter. Impact Partnership Wealth LLC now owns 16,871 shares of the company’s stock valued at $286,000 after purchasing an additional 1,229 shares during the period. KBC Group NV boosted its stake in Macy’s by 19.9% during the 3rd quarter. KBC Group NV now owns 7,952 shares of the company’s stock valued at $125,000 after purchasing an additional 1,319 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake in Macy’s by 282.7% during the 3rd 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 period. 87.36% of the stock is owned by institutional investors and hedge funds.

Macy’s Stock Up 6.6 %

NYSE M opened at $14.10 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. The company’s 50 day simple moving average is $15.10 and its 200 day simple moving average is $15.50. Macy’s, Inc. has a 12 month low of $12.60 and a 12 month high of $22.10. The company has a market capitalization of $3.91 billion, a P/E ratio of 23.89 and a beta of 2.05.

Macy’s (NYSE:M) last released its earnings results on Thursday, March 6th. The company reported $1.80 EPS 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 business had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.76 billion. Equities research analysts expect that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.1824 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.18%. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s payout ratio is currently 116.95%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. UBS Group reduced their target price on shares of Macy’s from $9.00 to $8.00 and set a “sell” rating for the company in a research note on Friday. Guggenheim reissued a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. The Goldman Sachs Group dropped their price target on shares of Macy’s from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday. Benchmark upgraded shares of Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. Finally, StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Macy’s currently has a consensus rating of “Hold” and an average target price of $16.00.

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.