Macy’s, Inc. (NYSE:M) Shares Purchased by Waterfront Wealth Inc.

Waterfront Wealth Inc. increased its stake in shares of Macy’s, Inc. (NYSE:M) by 5.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,831 shares of the company’s stock after purchasing an additional 10,092 shares during the period. Macy’s accounts for about 0.8% of Waterfront Wealth Inc.’s holdings, making the stock its 28th biggest position. Waterfront Wealth Inc.’s holdings in Macy’s were worth $3,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of M. Pacer Advisors Inc. grew its stake in Macy’s by 2.4% in the 4th quarter. Pacer Advisors Inc. now owns 41,345 shares of the company’s stock worth $700,000 after acquiring an additional 960 shares during the period. Impact Partnership Wealth LLC grew its stake in Macy’s by 7.9% in the 4th quarter. Impact Partnership Wealth LLC now owns 16,871 shares of the company’s stock worth $286,000 after acquiring an additional 1,229 shares during the period. KBC Group NV grew its stake in Macy’s by 19.9% in the 3rd quarter. KBC Group NV now owns 7,952 shares of the company’s stock worth $125,000 after acquiring an additional 1,319 shares during the period. Venturi Wealth Management LLC grew its stake in Macy’s by 282.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after acquiring an additional 1,685 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Macy’s by 8.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 23,399 shares of the company’s stock worth $367,000 after acquiring an additional 1,866 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy’s Stock Up 3.0 %

Shares of Macy’s stock opened at $15.80 on Friday. The company has a fifty day moving average price of $15.59 and a 200 day moving average price of $15.63. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. Macy’s, Inc. has a twelve month low of $13.66 and a twelve month high of $22.10. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 26.77 and a beta of 2.05.

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

Analyst Ratings Changes

M has been the subject of several research reports. UBS Group lowered their price objective on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research note on Thursday, December 12th. Gordon Haskett cut shares of Macy’s from a “buy” rating to an “accumulate” rating in a research note on Thursday, February 13th. Telsey Advisory Group reissued a “market perform” rating and set a $17.00 price objective on shares of Macy’s in a research note on Tuesday, January 14th. Benchmark raised shares of Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley lowered their price objective on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $17.75.

Macy’s Company Profile

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.