Nisa Investment Advisors LLC Grows Position in Macy’s, Inc. (NYSE:M)

Nisa Investment Advisors LLC lifted its holdings in shares of Macy’s, Inc. (NYSE:M) by 58.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,673 shares of the company’s stock after buying an additional 4,681 shares during the period. Nisa Investment Advisors LLC’s holdings in Macy’s were worth $161,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bessemer Group Inc. raised its stake in Macy’s by 495.5% during the 4th quarter. Bessemer Group Inc. now owns 3,412 shares of the company’s stock valued at $58,000 after purchasing an additional 2,839 shares during the period. Raiffeisen Bank International AG purchased a new position in shares of Macy’s in the 4th quarter worth approximately $111,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Macy’s in the 4th quarter worth approximately $119,000. Versant Capital Management Inc boosted its holdings in shares of Macy’s by 343.4% in the 1st quarter. Versant Capital Management Inc now owns 9,449 shares of the company’s stock worth $119,000 after purchasing an additional 7,318 shares during the period. Finally, Kingswood Wealth Advisors LLC purchased a new position in Macy’s during the 1st quarter valued at $142,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

M has been the subject of a number of analyst reports. Telsey Advisory Group decreased their price objective on Macy’s from $15.00 to $14.00 and set a “market perform” rating for the company in a research note on Thursday, May 29th. The Goldman Sachs Group downgraded Macy’s from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $17.00 to $12.00 in a research note on Tuesday, April 22nd. Barclays assumed coverage on Macy’s in a research report on Monday, April 28th. They set a “cautious” rating and a $12.00 price target on the stock. Citigroup restated a “neutral” rating and issued a $12.00 target price (up previously from $11.00) on shares of Macy’s in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. cut their target price on Macy’s from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, May 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.78.

Macy’s Stock Performance

Shares of M stock opened at $12.01 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.43 and a quick ratio of 0.37. The firm has a market cap of $3.26 billion, a P/E ratio of 6.09 and a beta of 1.71. Macy’s, Inc. has a fifty-two week low of $9.76 and a fifty-two week high of $18.13. The stock’s 50-day moving average is $11.88 and its two-hundred day moving average is $13.00.

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

Macy’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a dividend of $0.1824 per share. The ex-dividend date was Friday, June 13th. This represents a $0.73 dividend on an annualized basis and a yield of 6.08%. Macy’s’s dividend payout ratio (DPR) is currently 37.06%.

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.