Kentucky Retirement Systems Insurance Trust Fund Purchases Shares of 13,049 Macy’s, Inc. (NYSE:M)

Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Macy’s, Inc. (NYSE:M) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 13,049 shares of the company’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in M. Geode Capital Management LLC increased its position in Macy’s by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,023,790 shares of the company’s stock worth $79,110,000 after buying an additional 128,258 shares during the period. FMR LLC increased its position in Macy’s by 4.4% in the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company’s stock worth $73,611,000 after buying an additional 195,880 shares during the period. Charles Schwab Investment Management Inc. increased its position in Macy’s by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock worth $41,765,000 after buying an additional 118,626 shares during the period. Royce & Associates LP increased its position in Macy’s by 5.2% in the 3rd quarter. Royce & Associates LP now owns 1,420,000 shares of the company’s stock worth $22,280,000 after buying an additional 70,000 shares during the period. Finally, Invenomic Capital Management LP increased its position in Macy’s by 32.3% in the 3rd quarter. Invenomic Capital Management LP now owns 795,687 shares of the company’s stock worth $12,484,000 after buying an additional 194,443 shares during the period. 87.36% of the stock is owned by institutional investors and hedge funds.

Macy’s Price Performance

Shares of M stock opened at $15.37 on Thursday. The stock’s fifty day simple moving average is $15.60 and its 200 day simple moving average is $15.63. 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 firm has a market cap of $4.27 billion, a price-to-earnings ratio of 26.04 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.

Macy’s (NYSE:M) last announced its quarterly 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 during the quarter, compared to analyst estimates of $4.74 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. Macy’s’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 EPS. On average, analysts expect that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on M shares. Benchmark raised Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. Morgan Stanley decreased their price objective on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. Guggenheim reissued a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. StockNews.com raised Macy’s from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $17.00 price objective on shares of Macy’s in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.