Kentucky Retirement Systems Insurance Trust Fund Acquires Shares of 13,049 Macy’s, Inc. (NYSE:M)

Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Macy’s, Inc. (NYSE:M) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,049 shares of the company’s stock, valued at approximately $221,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CWM LLC grew its stake in Macy’s by 26.0% in the third quarter. CWM LLC now owns 10,584 shares of the company’s stock valued at $166,000 after acquiring an additional 2,186 shares during the period. Blue Trust Inc. grew its stake in Macy’s by 619.1% in the third quarter. Blue Trust Inc. now owns 4,868 shares of the company’s stock valued at $76,000 after acquiring an additional 4,191 shares during the period. Signaturefd LLC grew its stake in Macy’s by 39.2% in the third quarter. Signaturefd LLC now owns 26,748 shares of the company’s stock valued at $420,000 after acquiring an additional 7,534 shares during the period. International Assets Investment Management LLC grew its stake in Macy’s by 454.3% in the third quarter. International Assets Investment Management LLC now owns 111,587 shares of the company’s stock valued at $1,751,000 after acquiring an additional 91,455 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in Macy’s in the third quarter valued at about $1,407,000. Institutional investors own 87.36% of the company’s stock.

Macy’s Stock Performance

Shares of NYSE M opened at $15.37 on Thursday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The stock has a 50 day moving average price of $15.60 and a 200 day moving average price of $15.63. The stock has a market capitalization of $4.27 billion, a PE ratio of 26.04 and a beta of 2.05. Macy’s, Inc. has a 52 week low of $13.66 and a 52 week high of $22.10.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.74 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. Macy’s’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS. Analysts predict that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Benchmark raised Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. UBS Group reduced their price objective on Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. StockNews.com raised Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. reduced their price objective on Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $17.75.

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.