Macy’s, Inc. (NYSE:M) Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB boosted its holdings in shares of Macy’s, Inc. (NYSE:M) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 273,872 shares of the company’s stock after acquiring an additional 10,541 shares during the period. Nordea Investment Management AB’s holdings in Macy’s were worth $4,671,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of M. Quest Partners LLC acquired a new position in Macy’s in the 3rd quarter valued at about $35,000. Venturi Wealth Management LLC grew its holdings in shares of Macy’s by 282.7% during the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after buying an additional 1,685 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Macy’s in the third quarter valued at approximately $39,000. Abich Financial Wealth Management LLC purchased a new position in shares of Macy’s during the second quarter valued at approximately $57,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Macy’s during the second quarter worth approximately $62,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy’s Trading Down 0.9 %

M opened at $15.89 on Friday. The firm’s 50 day moving average is $16.18 and its 200-day moving average is $16.22. Macy’s, Inc. has a 52-week low of $14.06 and a 52-week high of $22.10. 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 capitalization of $4.41 billion, a P/E ratio of 26.93 and a beta of 2.07.

Macy’s (NYSE:M) last released its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). The firm had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $0.21 EPS. Analysts expect that Macy’s, Inc. will post 2.4 EPS for the current fiscal year.

Macy’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were issued a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date was Friday, December 13th. Macy’s’s dividend payout ratio is currently 116.95%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. StockNews.com cut Macy’s from a “buy” rating to a “hold” rating in a report on Thursday, December 26th. Gordon Haskett upgraded Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Monday, December 16th. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. JPMorgan Chase & Co. dropped their price target on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Morgan Stanley reduced their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. One equities 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $17.78.

About Macy’s

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.