Tower Research Capital LLC TRC grew its position in Macy's Inc (NYSE:M) by 60.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,046 shares of the company’s stock after acquiring an additional 3,045 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Macy's were worth $203,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of M. Vestpro Financial Partners Inc. dba CPF Texas acquired a new stake in shares of Macy's in the fourth quarter valued at approximately $104,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Macy's during the fourth quarter worth approximately $119,000. Cerebellum GP LLC purchased a new stake in shares of Macy's during the fourth quarter worth approximately $127,000. Enterprise Financial Services Corp raised its stake in shares of Macy's by 102.4% during the fourth quarter. Enterprise Financial Services Corp now owns 5,348 shares of the company’s stock worth $135,000 after purchasing an additional 2,706 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Macy's by 62.9% during the third quarter. IFP Advisors Inc now owns 7,981 shares of the company’s stock worth $174,000 after purchasing an additional 3,083 shares during the last quarter. 88.32% of the stock is owned by institutional investors and hedge funds.
M has been the subject of several analyst reports. Vetr cut Macy's from a “strong-buy” rating to a “buy” rating and set a $28.05 price target for the company. in a research note on Tuesday, December 19th. BMO Capital Markets restated a “buy” rating and set a $36.00 price target on shares of Macy's in a research note on Thursday, November 2nd. Guggenheim restated a “buy” rating and set a $27.00 price target on shares of Macy's in a research note on Friday, December 15th. Canaccord Genuity restated a “buy” rating and set a $9.50 price target on shares of Macy's in a research note on Thursday, November 16th. Finally, Zacks Investment Research upgraded Macy's from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Wednesday, January 10th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $25.69.
Macy's (NYSE:M) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Macy's had a return on equity of 21.20% and a net margin of 2.83%. The business had revenue of $8.67 billion during the quarter, compared to analysts’ expectations of $8.70 billion. During the same quarter last year, the business posted $2.02 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. sell-side analysts forecast that Macy's Inc will post 3.64 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be given a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date is Wednesday, March 14th. Macy's’s dividend payout ratio is currently 66.52%.
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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