Xponance Inc. Increases Position in Macy’s, Inc. (NYSE:M)

Xponance Inc. boosted its holdings in shares of Macy’s, Inc. (NYSE:M) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,544 shares of the company’s stock after purchasing an additional 2,316 shares during the quarter. Xponance Inc.’s holdings in Macy’s were worth $653,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Trifecta Capital Advisors LLC acquired a new position in shares of Macy’s during the 4th quarter worth about $34,000. Quest Partners LLC acquired a new position in shares of Macy’s during the third quarter valued at approximately $35,000. Jones Financial Companies Lllp lifted its position in shares of Macy’s by 82.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after acquiring an additional 969 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Macy’s in the fourth quarter worth approximately $38,000. Finally, Tompkins Financial Corp purchased a new stake in shares of Macy’s during the fourth quarter worth approximately $102,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on M. Cowen restated a “hold” rating on shares of Macy’s in a report on Friday, March 7th. Benchmark upgraded shares of Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. Citigroup dropped their price objective on shares of Macy’s from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Telsey Advisory Group set a $15.00 target price on shares of Macy’s in a research note on Friday, March 7th. Finally, Guggenheim restated a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $15.30.

Macy’s Stock Performance

NYSE M opened at $13.62 on Wednesday. The stock has a fifty day simple moving average of $14.43 and a 200-day simple moving average of $15.31. 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 $3.78 billion, a PE ratio of 23.08 and a beta of 2.07. Macy’s, Inc. has a twelve month low of $12.60 and a twelve month high of $20.70.

Macy’s (NYSE:M) last announced its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.25. The business had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.76 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. Equities analysts anticipate that Macy’s, Inc. will post 2.39 earnings per share for the current year.

Macy’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a yield of 5.36%. This is a boost from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, March 14th. Macy’s’s dividend payout ratio is 35.44%.

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.