Teacher Retirement System of Texas Grows Stock Holdings in Macy’s, Inc. (NYSE:M)

Teacher Retirement System of Texas lifted its position in Macy’s, Inc. (NYSE:M) by 157.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,645 shares of the company’s stock after acquiring an additional 27,281 shares during the quarter. Teacher Retirement System of Texas’ holdings in Macy’s were worth $561,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vontobel Holding Ltd. bought a new stake in shares of Macy’s in the first quarter valued at about $304,000. Waterfront Wealth Inc. raised its holdings in shares of Macy’s by 3.4% in the first quarter. Waterfront Wealth Inc. now owns 196,227 shares of the company’s stock valued at $2,465,000 after acquiring an additional 6,396 shares in the last quarter. Highland Capital Management LLC raised its holdings in shares of Macy’s by 15.6% in the first quarter. Highland Capital Management LLC now owns 25,582 shares of the company’s stock valued at $321,000 after acquiring an additional 3,443 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in Macy’s by 15.6% in the first quarter. Illinois Municipal Retirement Fund now owns 276,903 shares of the company’s stock worth $3,478,000 after purchasing an additional 37,334 shares in the last quarter. Finally, PFG Investments LLC bought a new position in Macy’s in the first quarter worth about $156,000. 87.36% of the stock is currently owned by institutional investors.

Macy’s Trading Down 0.0%

Macy’s stock opened at $12.07 on Thursday. The company has a current ratio of 1.43, a quick ratio of 0.37 and a debt-to-equity ratio of 0.62. Macy’s, Inc. has a 12 month low of $9.76 and a 12 month high of $18.13. The stock’s 50 day simple moving average is $11.88 and its two-hundred day simple moving average is $13.04. The firm has a market cap of $3.28 billion, a PE ratio of 6.12 and a beta of 1.71.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, May 28th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. Macy’s had a return on equity of 16.34% and a net margin of 2.45%. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.38 billion. During the same quarter last year, the firm posted $0.27 EPS. The business’s revenue was down 5.1% on a year-over-year basis. Analysts anticipate that Macy’s, Inc. will post 2.39 earnings per share for the current year.

Macy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued a $0.1824 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.73 dividend on an annualized basis and a yield of 6.05%. Macy’s’s payout ratio is currently 37.06%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Citigroup reiterated a “neutral” rating and issued a $12.00 target price (up from $11.00) on shares of Macy’s in a report on Thursday, May 29th. Barclays started coverage on shares of Macy’s in a report on Monday, April 28th. They issued a “cautious” rating and a $12.00 target price for the company. Morgan Stanley restated a “negative” rating on shares of Macy’s in a report on Tuesday, May 6th. JPMorgan Chase & Co. cut their price objective on shares of Macy’s from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, May 29th. Finally, The Goldman Sachs Group downgraded shares of Macy’s from a “buy” rating to a “neutral” rating and cut their price objective for the company from $17.00 to $12.00 in a report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.78.

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.