Allianz Asset Management GmbH Has $59.46 Million Stake in Macy’s, Inc. (NYSE:M)

Allianz Asset Management GmbH increased its stake in shares of Macy’s, Inc. (NYSE:M) by 13.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,512,142 shares of the company’s stock after acquiring an additional 411,412 shares during the period. Allianz Asset Management GmbH’s holdings in Macy’s were worth $59,461,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in M. Barington Capital Group L.P. boosted its stake in Macy’s by 550.0% during the 3rd quarter. Barington Capital Group L.P. now owns 650,000 shares of the company’s stock valued at $10,198,000 after purchasing an additional 550,000 shares during the period. Lind Value II ApS bought a new stake in Macy’s during the 4th quarter valued at approximately $6,733,000. Retirement Systems of Alabama boosted its stake in Macy’s by 57.9% during the 3rd quarter. Retirement Systems of Alabama now owns 782,391 shares of the company’s stock valued at $12,276,000 after purchasing an additional 286,879 shares during the period. FMR LLC boosted its stake in 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 purchasing an additional 195,880 shares during the period. Finally, Invenomic Capital Management LP boosted its stake in Macy’s by 32.3% during the 3rd 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 period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on M shares. Morgan Stanley reduced their price objective on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday, December 12th. Benchmark upgraded Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 price objective on shares of Macy’s in a research report on Tuesday, January 14th. UBS Group reduced their price objective on Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. Finally, Guggenheim reiterated a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.75.

Macy’s Price Performance

Macy’s stock opened at $15.00 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. The company has a market capitalization of $4.16 billion, a PE ratio of 25.42 and a beta of 2.05. Macy’s, Inc. has a one year low of $13.66 and a one year high of $22.10. The business has a 50 day simple moving average of $15.56 and a 200 day simple moving average of $15.63.

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

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.