AXQ Capital LP Sells 60,148 Shares of Macy’s, Inc. (NYSE:M)

AXQ Capital LP lessened its holdings in shares of Macy’s, Inc. (NYSE:M) by 82.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,557 shares of the company’s stock after selling 60,148 shares during the quarter. AXQ Capital LP’s holdings in Macy’s were worth $213,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its holdings in shares of Macy’s by 12.2% during the 4th quarter. American Century Companies Inc. now owns 7,137,132 shares of the company’s stock valued at $120,832,000 after acquiring an additional 774,693 shares during the last quarter. Geode Capital Management LLC boosted its position in Macy’s by 2.6% during the third quarter. Geode Capital Management LLC now owns 5,023,790 shares of the company’s stock worth $79,110,000 after purchasing an additional 128,258 shares during the period. FMR LLC grew its holdings in Macy’s by 4.4% during the third 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 last quarter. Allianz Asset Management GmbH raised its position in shares of Macy’s by 13.3% in the fourth quarter. Allianz Asset Management GmbH now owns 3,512,142 shares of the company’s stock valued at $59,461,000 after purchasing an additional 411,412 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Macy’s by 14.5% in the fourth quarter. Bank of New York Mellon Corp now owns 3,314,572 shares of the company’s stock worth $56,116,000 after buying an additional 419,261 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

M has been the topic of a number of research analyst reports. Benchmark upgraded shares of Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. Telsey Advisory Group set a $15.00 price target on Macy’s in a research report on Friday, March 7th. New Street Research set a $13.00 price objective on Macy’s in a research report on Thursday, March 6th. Gordon Haskett lowered Macy’s from an “accumulate” rating to a “hold” rating in a report on Thursday, March 6th. Finally, UBS Group cut their price target on Macy’s from $9.00 to $8.00 and set a “sell” rating for the company in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $15.30.

Macy’s Trading Up 5.1 %

Shares of M stock opened at $13.91 on Tuesday. The firm has a fifty day moving average of $14.44 and a 200-day moving average of $15.32. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 23.58 and a beta of 2.07. Macy’s, Inc. has a 52-week low of $12.60 and a 52-week high of $20.71. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26.

Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.25. The firm had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. On average, equities research analysts forecast that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.1824 dividend. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, March 14th. This represents a $0.73 annualized dividend and a yield of 5.24%. Macy’s’s payout ratio is currently 35.44%.

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.