Mercer Global Advisors Inc. ADV Sells 6,220 Shares of Macy’s, Inc. (NYSE:M)

Mercer Global Advisors Inc. ADV cut its holdings in Macy’s, Inc. (NYSE:M – Get Rating) by 28.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,566 shares of the company’s stock after selling 6,220 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Macy’s were worth $321,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Point72 Asset Management L.P. grew its holdings in Macy’s by 137.4% during the third quarter. Point72 Asset Management L.P. now owns 5,085,398 shares of the company’s stock valued at $79,688,000 after purchasing an additional 2,943,484 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Macy’s by 27.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,106,073 shares of the company’s stock valued at $246,184,000 after buying an additional 2,155,936 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Macy’s by 126.2% in the 1st quarter. Renaissance Technologies LLC now owns 3,796,764 shares of the company’s stock valued at $92,489,000 after buying an additional 2,118,174 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Macy’s by 25.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,904,227 shares of the company’s stock worth $155,205,000 after buying an additional 2,040,551 shares during the period. Finally, Bank of Montreal Can lifted its holdings in Macy’s by 501.2% during the third quarter. Bank of Montreal Can now owns 2,033,711 shares of the company’s stock worth $33,373,000 after acquiring an additional 1,695,426 shares in the last quarter. Institutional investors and hedge funds own 80.19% of the company’s stock.

Macy’s Trading Up 2.8 %

Shares of M opened at $15.18 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.33 and a current ratio of 1.20. Macy’s, Inc. has a 52-week low of $14.48 and a 52-week high of $25.12. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of 3.62, a PEG ratio of 0.33 and a beta of 1.81. The business’s fifty day moving average is $16.79 and its 200-day moving average is $20.04.

Macy’s (NYSE:M – Get Rating) last issued its quarterly earnings data on Thursday, March 2nd. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.57 by $0.31. Macy’s had a net margin of 4.82% and a return on equity of 35.06%. The business had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the prior year, the firm earned $2.45 EPS. The firm’s revenue was down 4.6% compared to the same quarter last year. Equities analysts anticipate that Macy’s, Inc. will post 3.73 EPS for the current fiscal year.

Macy’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Wednesday, March 15th were paid a $0.1654 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.36%. This is an increase from Macy’s’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, March 14th. Macy’s’s payout ratio is currently 15.75%.

Analysts Set New Price Targets

M has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price target on Macy’s from $29.00 to $26.00 in a report on Monday, May 8th. Citigroup lifted their price objective on shares of Macy’s from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, February 23rd. StockNews.com began coverage on shares of Macy’s in a report on Thursday, May 18th. They set a “hold” rating for the company. Gordon Haskett lowered shares of Macy’s from an “accumulate” rating to a “hold” rating and set a $18.00 price target on the stock. in a research note on Wednesday, March 29th. Finally, Credit Suisse Group increased their price objective on shares of Macy’s from $19.00 to $20.00 and gave the stock an “underperform” rating in a research note on Friday, March 3rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Macy’s presently has a consensus rating of “Hold” and an average target price of $23.58.

Macy’s Profile

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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.