Exxonmobil Investment Management Inc. TX Cuts Stake in Macy's Inc (M)

Exxonmobil Investment Management Inc. TX lessened its holdings in Macy's Inc (NYSE:M) by 12.9% during the fourth quarter, HoldingsChannel reports. The firm owned 48,433 shares of the company’s stock after selling 7,184 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Macy's were worth $1,220,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in M. Prudential Financial Inc. lifted its position in shares of Macy's by 75.3% in the third quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company’s stock worth $109,392,000 after purchasing an additional 2,153,110 shares in the last quarter. Alps Advisors Inc. bought a new stake in shares of Macy's in the third quarter worth $46,431,000. Discovery Capital Management LLC CT lifted its position in shares of Macy's by 239.0% in the second quarter. Discovery Capital Management LLC CT now owns 2,871,297 shares of the company’s stock worth $66,729,000 after purchasing an additional 2,024,297 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Macy's by 30.9% in the third quarter. Dimensional Fund Advisors LP now owns 6,969,989 shares of the company’s stock worth $152,091,000 after purchasing an additional 1,646,858 shares in the last quarter. Finally, Contrarius Investment Management Ltd lifted its position in shares of Macy's by 827.4% in the third quarter. Contrarius Investment Management Ltd now owns 1,575,547 shares of the company’s stock worth $34,378,000 after purchasing an additional 1,405,656 shares in the last quarter. 82.07% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on M shares. Vetr downgraded shares of Macy's from a “strong-buy” rating to a “buy” rating and set a $28.05 target price on the stock. in a report on Tuesday, December 19th. Zacks Investment Research upgraded shares of Macy's from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Wednesday, January 10th. Telsey Advisory Group boosted their target price on shares of Macy's from $25.00 to $28.00 and gave the stock a “market perform” rating in a report on Thursday, December 28th. ValuEngine downgraded shares of Macy's from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Guggenheim restated a “buy” rating and set a $27.00 target price on shares of Macy's in a report on Friday, December 15th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $26.02.

Macy's Inc (NYSE M) opened at $26.24 on Thursday. Macy's Inc has a fifty-two week low of $17.41 and a fifty-two week high of $34.37. The company has a market cap of $7,894.36, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 0.84 and a beta of 0.97. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.29 and a quick ratio of 0.19.

Macy's (NYSE:M) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.04. Macy's had a net margin of 2.83% and a return on equity of 21.20%. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same period in the previous year, the company earned $0.17 earnings per share. The company’s quarterly revenue was down 6.1% on a year-over-year basis. equities research analysts predict that Macy's Inc will post 3.63 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were issued a $0.3775 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.51 annualized dividend and a dividend yield of 5.75%. Macy's’s dividend payout ratio is currently 66.52%.

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Macy's Company Profile

Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.

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Institutional Ownership by Quarter for Macy's (NYSE:M)

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