Russell Investments Group Ltd. Purchases 25,909 Shares of Macy’s, Inc. (NYSE:M)

Russell Investments Group Ltd. raised its position in shares of Macy’s, Inc. (NYSE:MGet Rating) by 33.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,320 shares of the company’s stock after acquiring an additional 25,909 shares during the period. Russell Investments Group Ltd.’s holdings in Macy’s were worth $2,153,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of M. Armstrong Advisory Group Inc. bought a new stake in shares of Macy’s in the fourth quarter valued at about $31,000. Estabrook Capital Management lifted its stake in shares of Macy’s by 77.8% in the first quarter. Estabrook Capital Management now owns 1,600 shares of the company’s stock valued at $39,000 after buying an additional 700 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Macy’s by 57.7% in the third quarter. Quadrant Capital Group LLC now owns 1,815 shares of the company’s stock valued at $28,000 after buying an additional 664 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Macy’s by 52.3% in the first quarter. Lazard Asset Management LLC now owns 1,995 shares of the company’s stock valued at $48,000 after buying an additional 685 shares during the period. Finally, Ronald Blue Trust Inc. raised its position in Macy’s by 384.8% in the fourth quarter. Ronald Blue Trust Inc. now owns 2,264 shares of the company’s stock worth $36,000 after purchasing an additional 1,797 shares in the last quarter. 80.19% of the stock is currently owned by institutional investors.

Macy’s Trading Down 6.8 %

Shares of NYSE M opened at $14.79 on Monday. The company’s fifty day moving average is $17.01 and its 200-day moving average is $20.15. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 3.53, a P/E/G ratio of 0.35 and a beta of 1.81. Macy’s, Inc. has a twelve month low of $14.48 and a twelve month high of $25.12. The company has a quick ratio of 0.33, a current ratio of 1.20 and a debt-to-equity ratio of 0.73.

Macy’s (NYSE:MGet Rating) last posted its quarterly earnings data on Thursday, March 2nd. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.57 by $0.31. The business had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.27 billion. Macy’s had a net margin of 4.82% and a return on equity of 35.06%. The firm’s revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.45 EPS. Equities research analysts predict that Macy’s, Inc. will post 3.73 EPS for the current year.

Macy’s Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Wednesday, March 15th were paid a $0.1654 dividend. This is a positive change from Macy’s’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend was Tuesday, March 14th. Macy’s’s payout ratio is presently 15.75%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Gordon Haskett lowered shares of Macy’s from an “accumulate” rating to a “hold” rating and set a $18.00 price target for the company. in a research report on Wednesday, March 29th. Citigroup raised their price objective on shares of Macy’s from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, February 23rd. initiated coverage on shares of Macy’s in a report on Thursday. They set a “hold” rating for the company. JPMorgan Chase & Co. dropped their price objective on shares of Macy’s from $29.00 to $26.00 in a report on Monday, May 8th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $25.00 price objective on shares of Macy’s in a report on Thursday, March 30th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from, the stock has an average rating of “Hold” and an average target price of $23.58.

About Macy’s

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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.

Further Reading

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Institutional Ownership by Quarter for Macy's (NYSE:M)

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