Range Financial Group LLC Acquires Shares of 16,840 Macy’s, Inc. (NYSE:M)

Range Financial Group LLC bought a new position in shares of Macy’s, Inc. (NYSE:M) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 16,840 shares of the company’s stock, valued at approximately $285,000.

A number of other large investors have also recently made changes to their positions in the stock. United Services Automobile Association boosted its position in Macy’s by 4.8% in the 2nd quarter. United Services Automobile Association now owns 22,038 shares of the company’s stock valued at $423,000 after buying an additional 1,012 shares during the period. Federated Hermes Inc. raised its stake in shares of Macy’s by 2.5% during the second quarter. Federated Hermes Inc. now owns 44,337 shares of the company’s stock valued at $851,000 after acquiring an additional 1,095 shares in the last quarter. Affinity Capital Advisors LLC boosted its holdings in shares of Macy’s by 11.5% in the third quarter. Affinity Capital Advisors LLC now owns 12,116 shares of the company’s stock valued at $190,000 after purchasing an additional 1,248 shares during the period. KBC Group NV grew its stake in Macy’s by 19.9% in the third quarter. KBC Group NV now owns 7,952 shares of the company’s stock worth $125,000 after purchasing an additional 1,319 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in Macy’s by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 76,784 shares of the company’s stock worth $1,474,000 after purchasing an additional 1,462 shares during the period. 87.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

M has been the subject of several research reports. Argus upgraded Macy’s to a “hold” rating in a report on Thursday, October 10th. StockNews.com cut shares of Macy’s from a “buy” rating to a “hold” rating in a report on Thursday, December 26th. UBS Group reduced their price target on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a report on Thursday, December 12th. Morgan Stanley lowered their price target on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday, December 12th. Finally, Guggenheim reissued a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.56.

Macy’s Trading Down 0.2 %

NYSE M opened at $16.37 on Wednesday. Macy’s, Inc. has a 52 week low of $14.06 and a 52 week high of $22.10. The company has a 50 day moving average price of $16.15 and a 200 day moving average price of $16.23. The company has a quick ratio of 0.34, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The firm has a market cap of $4.54 billion, a PE ratio of 27.75 and a beta of 2.07.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The business had revenue of $4.74 billion for 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 business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share. As a group, sell-side analysts forecast that Macy’s, Inc. will post 2.4 EPS for the current fiscal year.

Macy’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a $0.1737 dividend. This represents a $0.69 annualized dividend and a yield of 4.24%. The ex-dividend date was Friday, December 13th. Macy’s’s dividend payout ratio is presently 116.95%.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.