Russell Investments Group Ltd. Has $1.26 Million Position in Macy’s, Inc. $M

Russell Investments Group Ltd. reduced its stake in Macy’s, Inc. (NYSE:M) by 16.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,301 shares of the company’s stock after selling 20,456 shares during the quarter. Russell Investments Group Ltd.’s holdings in Macy’s were worth $1,261,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. RWC Asset Management LLP acquired a new stake in shares of Macy’s during the first quarter worth $80,868,000. Junto Capital Management LP bought a new position in Macy’s in the fourth quarter valued at about $48,775,000. BNP Paribas Financial Markets grew its holdings in shares of Macy’s by 304.6% during the fourth quarter. BNP Paribas Financial Markets now owns 1,466,676 shares of the company’s stock worth $24,831,000 after purchasing an additional 1,104,168 shares during the last quarter. Nuveen LLC bought a new stake in shares of Macy’s during the first quarter worth about $9,201,000. Finally, Northern Trust Corp grew its holdings in shares of Macy’s by 33.8% during the fourth quarter. Northern Trust Corp now owns 2,707,349 shares of the company’s stock worth $45,835,000 after purchasing an additional 684,602 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on M. 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. JPMorgan Chase & Co. boosted their price target on Macy’s from $12.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Morgan Stanley reiterated a “negative” rating on shares of Macy’s in a report on Tuesday, May 6th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $14.00 price target on shares of Macy’s in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.22.

Macy’s Stock Down 1.5%

Shares of NYSE M opened at $13.40 on Friday. The company has a market cap of $3.64 billion, a P/E ratio of 6.80 and a beta of 1.79. The company has a quick ratio of 0.37, a current ratio of 1.43 and a debt-to-equity ratio of 0.62. The business has a 50-day simple moving average of $12.46 and a two-hundred day simple moving average of $12.50. Macy’s, Inc. has a 52 week low of $9.76 and a 52 week high of $18.13.

Macy’s (NYSE:M) last issued its quarterly 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. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.38 billion. Macy’s had a return on equity of 16.34% and a net margin of 2.45%.The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the company posted $0.27 EPS. Research analysts anticipate that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Monday, September 15th. Macy’s’s dividend payout ratio (DPR) is currently 37.06%.

Macy’s 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.