44,928 Shares in Macy’s, Inc. (NYSE:M) Bought by Bailard Inc.

Bailard Inc. purchased a new stake in Macy’s, Inc. (NYSE:M) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 44,928 shares of the company’s stock, valued at approximately $761,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Trifecta Capital Advisors LLC purchased a new position in shares of Macy’s during the 4th quarter valued at approximately $34,000. Quest Partners LLC acquired a new stake in Macy’s in the third quarter valued at $35,000. Venturi Wealth Management LLC boosted its stake in Macy’s by 282.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after acquiring an additional 1,685 shares during the last quarter. Kestra Investment Management LLC acquired a new position in Macy’s during the 4th quarter worth $38,000. Finally, Huntington National Bank raised its stake in shares of Macy’s by 937.4% in the 3rd quarter. Huntington National Bank now owns 4,637 shares of the company’s stock valued at $73,000 after purchasing an additional 4,190 shares in the last quarter. 87.36% of the stock is owned by hedge funds and other institutional investors.

Macy’s Stock Performance

M stock opened at $14.04 on Tuesday. Macy’s, Inc. has a 1 year low of $13.66 and a 1 year high of $22.10. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 23.80 and a beta of 2.05. 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’s fifty day moving average is $15.33 and its two-hundred day moving average is $15.56.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the business earned $0.21 EPS. On average, research analysts predict that Macy’s, Inc. will post 2.39 EPS 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 given a dividend of $0.1824 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a dividend yield of 5.20%. Macy’s’s payout ratio is currently 116.95%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Gordon Haskett downgraded Macy’s from a “buy” rating to an “accumulate” rating in a research note on Thursday, February 13th. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Morgan Stanley dropped their price target on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 12th. JPMorgan Chase & Co. decreased their price objective on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $17.00 target price on shares of Macy’s in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.14.

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.