Retirement Systems of Alabama Purchases 857 Shares of Macy’s Inc (NYSE:M)

Retirement Systems of Alabama grew its position in shares of Macy’s Inc (NYSE:M) by 0.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 144,043 shares of the company’s stock after purchasing an additional 857 shares during the quarter. Retirement Systems of Alabama’s holdings in Macy’s were worth $3,091,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Horizon Investments LLC bought a new position in shares of Macy’s during the 1st quarter valued at about $2,288,000. Cognios Capital LLC increased its position in shares of Macy’s by 40.4% during the 1st quarter. Cognios Capital LLC now owns 93,052 shares of the company’s stock valued at $2,235,000 after purchasing an additional 26,792 shares during the last quarter. QV Investors Inc. increased its position in shares of Macy’s by 1.2% during the 1st quarter. QV Investors Inc. now owns 621,935 shares of the company’s stock valued at $14,945,000 after purchasing an additional 7,510 shares during the last quarter. HCR Wealth Advisors bought a new position in Macy’s during the 1st quarter worth approximately $17,350,000. Finally, Destination Wealth Management grew its position in Macy’s by 27.1% during the 1st quarter. Destination Wealth Management now owns 2,344 shares of the company’s stock worth $56,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 87.39% of the company’s stock.

Several research firms recently issued reports on M. Standpoint Research upgraded GAP from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Deutsche Bank raised their price target on Macy’s from $27.00 to $28.00 and gave the stock a “hold” rating in a research report on Thursday, May 16th. UBS Group set a $25.00 price target on Macy’s and gave the stock a “hold” rating in a research report on Friday, May 17th. Goldman Sachs Group set a €28.60 ($33.26) price target on Hapag-Lloyd and gave the stock a “neutral” rating in a research report on Thursday, May 16th. Finally, Zacks Investment Research lowered G1 Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. Macy’s presently has an average rating of “Hold” and a consensus target price of $26.58.

In related news, Chairman Jeffrey Gennette acquired 5,000 shares of the stock in a transaction on Friday, May 17th. The stock was acquired at an average price of $21.96 per share, for a total transaction of $109,800.00. Following the completion of the purchase, the chairman now owns 102,525 shares of the company’s stock, valued at $2,251,449. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Paula A. Price sold 1,189 shares of Macy’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $21.30, for a total value of $25,325.70. The disclosure for this sale can be found here. In the last 90 days, insiders bought 20,000 shares of company stock valued at $432,950. 0.55% of the stock is currently owned by company insiders.

Shares of M stock traded up $0.18 during trading hours on Wednesday, reaching $22.71. The company’s stock had a trading volume of 129,338 shares, compared to its average volume of 6,774,667. The company has a market capitalization of $7.01 billion, a PE ratio of 5.43, a P/E/G ratio of 0.98 and a beta of 0.54. Macy’s Inc has a one year low of $20.02 and a one year high of $41.99. The business’s fifty day moving average is $21.86. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.42 and a quick ratio of 0.32.

Macy’s (NYSE:M) last released its earnings results on Wednesday, May 15th. The company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.11. The company had revenue of $5.50 billion during the quarter, compared to analysts’ expectations of $5.52 billion. Macy’s had a return on equity of 20.66% and a net margin of 4.43%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 EPS. Analysts expect that Macy’s Inc will post 3.11 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were paid a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a dividend yield of 6.65%. The ex-dividend date of this dividend was Thursday, June 13th. Macy’s’s payout ratio is presently 36.12%.

About Macy’s

Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.

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

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