Retirement Systems of Alabama Boosts Holdings in Macy’s, Inc. (NYSE:M)

Retirement Systems of Alabama boosted its position in shares of Macy’s, Inc. (NYSE:M) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 783,879 shares of the company’s stock after purchasing an additional 1,488 shares during the period. Retirement Systems of Alabama’s holdings in Macy’s were worth $13,271,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Quest Partners LLC purchased a new stake in shares of Macy’s during the third quarter valued at approximately $35,000. Venturi Wealth Management LLC raised its holdings 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 last quarter. Future Financial Wealth Managment LLC bought a new position in Macy’s in the 3rd quarter valued at approximately $39,000. Huntington National Bank boosted its stake in Macy’s by 937.4% during the 3rd quarter. Huntington National Bank now owns 4,637 shares of the company’s stock valued at $73,000 after purchasing an additional 4,190 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Macy’s by 619.1% in the 3rd quarter. Blue Trust Inc. now owns 4,868 shares of the company’s stock worth $76,000 after purchasing an additional 4,191 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors.

Macy’s Stock Down 2.3 %

M opened at $14.27 on Friday. The firm’s 50 day simple moving average is $15.87 and its two-hundred day simple moving average is $15.73. The company has a market capitalization of $3.96 billion, a PE ratio of 24.18 and a beta of 2.06. Macy’s, Inc. has a 1-year low of $13.66 and a 1-year 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.

Macy’s (NYSE:M) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the company earned $0.21 earnings per share. As a group, equities analysts forecast that Macy’s, Inc. will post 2.39 EPS for the current year.

Analysts Set New Price Targets

M has been the topic of a number of research analyst reports. UBS Group lowered their price target on Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. Morgan Stanley lowered their target price on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 12th. Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 price target on shares of Macy’s in a research note on Tuesday, January 14th. Benchmark upgraded shares of Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut their target price on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Macy’s 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.