Macy’s, Inc. (NYSE:M) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of Macy’s, Inc. (NYSE:M) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 86,124 shares of the company’s stock after selling 2,410 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Macy’s were worth $1,352,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in M. Geode Capital Management LLC grew its position in Macy’s by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,023,790 shares of the company’s stock valued at $79,110,000 after buying an additional 128,258 shares during the last quarter. MidWestOne Financial Group Inc. boosted its holdings in shares of Macy’s by 45.8% in the third quarter. MidWestOne Financial Group Inc. now owns 118,479 shares of the company’s stock valued at $1,859,000 after acquiring an additional 37,218 shares in the last quarter. MML Investors Services LLC purchased a new position in Macy’s during the third quarter worth about $193,000. XTX Topco Ltd acquired a new stake in Macy’s in the third quarter valued at about $503,000. Finally, Quarry LP purchased a new stake in Macy’s in the 3rd quarter valued at approximately $117,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Analyst Ratings Changes

M has been the subject of several recent analyst reports. Guggenheim reissued a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. StockNews.com downgraded Macy’s from a “buy” rating to a “hold” rating in a report on Friday, December 13th. Gordon Haskett raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Monday. Morgan Stanley reduced their price objective on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $17.00 target price on shares of Macy’s in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $18.56.

Macy’s Stock Up 0.1 %

M stock opened at $16.73 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.34. The company’s 50 day simple moving average is $15.85 and its 200-day simple moving average is $16.42. Macy’s, Inc. has a 12 month low of $14.06 and a 12 month high of $22.10. The firm has a market capitalization of $4.64 billion, a PE ratio of 28.36 and a beta of 2.10.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the company posted $0.21 EPS. Macy’s’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities analysts expect that Macy’s, Inc. will post 2.38 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a $0.1737 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a yield of 4.15%. Macy’s’s dividend payout ratio (DPR) is 116.95%.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.