State Board of Administration of Florida Retirement System increased its holdings in Macy’s Inc (NYSE:M) by 2.0% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 477,106 shares of the company’s stock after buying an additional 9,183 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.16% of Macy’s worth $17,858,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in M. Point72 Asia Hong Kong Ltd boosted its position in Macy’s by 10,087.2% in the first quarter. Point72 Asia Hong Kong Ltd now owns 3,973 shares of the company’s stock worth $118,000 after purchasing an additional 3,934 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its position in Macy’s by 78.4% in the first quarter. Harvest Fund Management Co. Ltd now owns 4,067 shares of the company’s stock worth $120,000 after purchasing an additional 1,787 shares during the last quarter. Bristol John W & Co. Inc. NY purchased a new position in Macy’s in the first quarter worth about $199,000. Wade G W & Inc. purchased a new position in Macy’s in the first quarter worth about $201,000. Finally, Beese Fulmer Investment Management Inc. purchased a new position in Macy’s in the second quarter worth about $212,000. Institutional investors own 88.65% of the company’s stock.
NYSE M opened at $36.03 on Monday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.48 and a current ratio of 1.52. Macy’s Inc has a 12 month low of $17.41 and a 12 month high of $41.99. The company has a market capitalization of $12.25 billion, a P/E ratio of 9.56, a price-to-earnings-growth ratio of 1.22 and a beta of 0.79.
Macy’s (NYSE:M) last posted its quarterly earnings results on Wednesday, August 15th. The company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.20. Macy’s had a return on equity of 24.56% and a net margin of 6.45%. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.55 billion. During the same period in the previous year, the firm earned $0.48 EPS. The firm’s revenue was down 1.1% compared to the same quarter last year. equities analysts forecast that Macy’s Inc will post 3.87 earnings per share for the current year.
A number of research analysts have recently weighed in on the company. Atlantic Securities cut Macy’s from an “overweight” rating to a “neutral” rating and set a $39.00 price objective on the stock. in a research report on Wednesday, June 6th. They noted that the move was a valuation call. Standpoint Research cut Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. Evercore ISI lifted their price objective on Macy’s from $17.41 to $36.00 and gave the company a “buy” rating in a research report on Monday, June 4th. Deutsche Bank lifted their price objective on Macy’s from $33.00 to $35.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Morgan Stanley lifted their price objective on Macy’s from $25.00 to $27.00 and gave the company an “underweight” rating in a research report on Thursday. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $33.61.
Macy’s Company Profile
Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.
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