AXQ Capital LP Has $213,000 Holdings in Macy’s, Inc. (NYSE:M)

AXQ Capital LP cut its holdings in shares of Macy’s, Inc. (NYSE:M) by 82.7% during the fourth quarter, Holdings Channel reports. The fund owned 12,557 shares of the company’s stock after selling 60,148 shares during the period. AXQ Capital LP’s holdings in Macy’s were worth $213,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. grew its holdings in shares of Macy’s by 12.2% during the fourth quarter. American Century Companies Inc. now owns 7,137,132 shares of the company’s stock worth $120,832,000 after purchasing an additional 774,693 shares during the last quarter. Geode Capital Management LLC lifted its position in Macy’s by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,023,790 shares of the company’s stock worth $79,110,000 after buying an additional 128,258 shares in the last quarter. FMR LLC grew its holdings in Macy’s by 4.4% during the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company’s stock worth $73,611,000 after acquiring an additional 195,880 shares during the last quarter. Allianz Asset Management GmbH increased its position in Macy’s by 13.3% in the 4th quarter. Allianz Asset Management GmbH now owns 3,512,142 shares of the company’s stock valued at $59,461,000 after acquiring an additional 411,412 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Macy’s by 14.5% in the fourth quarter. Bank of New York Mellon Corp now owns 3,314,572 shares of the company’s stock worth $56,116,000 after acquiring an additional 419,261 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. The Goldman Sachs Group lowered their price target on shares of Macy’s from $19.00 to $17.00 and set a “buy” rating for the company in a report on Friday, March 7th. JPMorgan Chase & Co. downgraded Macy’s from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $19.00 to $14.00 in a research report on Thursday, March 6th. Cowen reiterated a “hold” rating on shares of Macy’s in a report on Friday, March 7th. UBS Group dropped their price objective on Macy’s from $9.00 to $8.00 and set a “sell” rating for the company in a report on Friday, March 7th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Macy’s has a consensus rating of “Hold” and a consensus price target of $15.30.

Macy’s Stock Up 5.1 %

Shares of NYSE:M opened at $13.91 on Tuesday. The company has a 50 day moving average price of $14.44 and a two-hundred day moving average price of $15.32. 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 company has a market capitalization of $3.86 billion, a PE ratio of 23.58 and a beta of 2.07. Macy’s, Inc. has a 52 week low of $12.60 and a 52 week high of $20.71.

Macy’s (NYSE:M) last released its quarterly earnings data on Thursday, March 6th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.25. The business had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.76 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. Analysts forecast that Macy’s, Inc. will post 2.39 earnings per share for the current year.

Macy’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.1824 per share. This represents a $0.73 annualized dividend and a dividend yield of 5.24%. The ex-dividend date is Friday, March 14th. This is a boost from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s payout ratio is 35.44%.

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.