State of New Jersey Common Pension Fund D Boosts Stock Position in Macy’s, Inc. (NYSE:M)

State of New Jersey Common Pension Fund D boosted its position in Macy’s, Inc. (NYSE:M) by 21.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 125,861 shares of the company’s stock after purchasing an additional 22,020 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Macy’s were worth $1,975,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of M. Dimensional Fund Advisors LP increased its position in Macy’s by 9.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company’s stock valued at $297,385,000 after buying an additional 1,379,476 shares in the last quarter. LSV Asset Management increased its holdings in shares of Macy’s by 1.3% during the second quarter. LSV Asset Management now owns 5,374,167 shares of the company’s stock valued at $103,184,000 after acquiring an additional 68,300 shares in the last quarter. American Century Companies Inc. raised its position in shares of Macy’s by 18.9% in the 2nd quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock valued at $90,333,000 after purchasing an additional 747,542 shares during the last quarter. Marshall Wace LLP boosted its stake in Macy’s by 1,539.5% in the 2nd quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock worth $67,871,000 after purchasing an additional 3,319,337 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Macy’s by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,185,513 shares of the company’s stock worth $61,162,000 after purchasing an additional 37,254 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Wall Street Analyst Weigh In

M has been the subject of several research reports. Telsey Advisory Group restated a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research note on Wednesday, August 21st. Morgan Stanley decreased their target price on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Argus raised shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. Finally, StockNews.com assumed coverage on Macy’s in a research note on Sunday, November 10th. They set a “hold” rating for the company. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Macy’s presently has an average rating of “Hold” and an average target price of $20.43.

Macy’s Trading Down 0.5 %

M stock opened at $15.49 on Monday. The business’s 50-day moving average is $15.39 and its 200 day moving average is $16.96. Macy’s, Inc. has a 12-month low of $13.10 and a 12-month high of $22.10. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 24.20 and a beta of 2.11. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70.

Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The company had revenue of $4.94 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter last year, the firm posted $0.26 EPS. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, sell-side analysts anticipate that Macy’s, Inc. will post 2.72 EPS for the current fiscal year.

Macy’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.1737 per share. The ex-dividend date is Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a yield of 4.49%. Macy’s’s payout ratio is 107.81%.

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.