SG Americas Securities LLC Purchases 163,587 Shares of Macy’s, Inc. (NYSE:M)

SG Americas Securities LLC boosted its position in Macy’s, Inc. (NYSE:M) by 1,076.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 178,778 shares of the company’s stock after purchasing an additional 163,587 shares during the period. SG Americas Securities LLC’s holdings in Macy’s were worth $3,027,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Macy’s by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,023,790 shares of the company’s stock worth $79,110,000 after buying an additional 128,258 shares during the last quarter. FMR LLC grew its position in shares of Macy’s by 4.4% during the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company’s stock valued at $73,611,000 after acquiring an additional 195,880 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Macy’s by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock worth $41,765,000 after purchasing an additional 118,626 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Macy’s by 5.2% in the 3rd quarter. Royce & Associates LP now owns 1,420,000 shares of the company’s stock worth $22,280,000 after purchasing an additional 70,000 shares during the period. Finally, Invenomic Capital Management LP lifted its stake in Macy’s by 32.3% in the third quarter. Invenomic Capital Management LP now owns 795,687 shares of the company’s stock valued at $12,484,000 after purchasing an additional 194,443 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on M. Guggenheim reissued a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. UBS Group decreased their price objective on Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a report on Thursday, December 12th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $17.00 price objective on shares of Macy’s in a report on Tuesday, January 14th. Argus upgraded shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. Finally, Gordon Haskett upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.78.

Macy’s Price Performance

Shares of NYSE:M opened at $15.34 on Friday. Macy’s, Inc. has a 12 month low of $13.66 and a 12 month high of $22.10. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The stock has a market cap of $4.26 billion, a P/E ratio of 25.99 and a beta of 2.07. The company has a 50 day moving average of $15.96 and a 200 day moving average of $15.88.

Macy’s (NYSE:M) last released its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The firm had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter last year, the firm earned $0.21 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, sell-side analysts forecast that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

About Macy’s

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.