Illinois Municipal Retirement Fund Boosts Position in Macy’s, Inc. (NYSE:M)

Illinois Municipal Retirement Fund boosted its position in Macy’s, Inc. (NYSE:M) by 23.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 239,569 shares of the company’s stock after purchasing an additional 44,809 shares during the period. Illinois Municipal Retirement Fund owned about 0.09% of Macy’s worth $4,056,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in shares of Macy’s by 14.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,314,572 shares of the company’s stock worth $56,116,000 after acquiring an additional 419,261 shares during the last quarter. Trifecta Capital Advisors LLC bought a new position in Macy’s in the 4th quarter worth $34,000. Impax Asset Management Group plc lifted its position in Macy’s by 30.8% during the fourth quarter. Impax Asset Management Group plc now owns 83,112 shares of the company’s stock valued at $1,407,000 after purchasing an additional 19,568 shares in the last quarter. Y Intercept Hong Kong Ltd grew its holdings in Macy’s by 231.5% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 66,098 shares of the company’s stock valued at $1,119,000 after purchasing an additional 46,156 shares during the period. Finally, Allianz Asset Management GmbH increased its position in Macy’s by 13.3% in the fourth quarter. Allianz Asset Management GmbH now owns 3,512,142 shares of the company’s stock worth $59,461,000 after buying an additional 411,412 shares in the last quarter. 87.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $17.00 price objective on shares of Macy’s in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price target on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. UBS Group reduced 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. Benchmark upgraded shares of Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Gordon Haskett downgraded shares of Macy’s from a “buy” rating to an “accumulate” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.75.

Macy’s Stock Performance

Shares of NYSE M opened at $14.53 on Thursday. The company has a market cap of $4.03 billion, a P/E ratio of 24.63 and a beta of 2.05. Macy’s, Inc. has a 52-week low of $13.66 and a 52-week high of $22.10. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The firm’s fifty day moving average is $15.46 and its two-hundred day moving average is $15.61.

Macy’s (NYSE:M) last issued its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). The firm had revenue of $4.74 billion during 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%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the firm posted $0.21 earnings per share. As a group, analysts anticipate that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s 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.