Macy’s, Inc. (NYSE:M) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC increased its position in shares of Macy’s, Inc. (NYSE:M) by 55.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,389 shares of the company’s stock after acquiring an additional 24,461 shares during the period. Jennison Associates LLC’s holdings in Macy’s were worth $1,546,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Quadrant L P CA acquired a new position in Macy’s during the 3rd quarter worth about $38,000. Carroll Financial Associates Inc. raised its position in Macy’s by 122.6% in the 3rd quarter. Carroll Financial Associates Inc. now owns 1,850 shares of the company’s stock valued at $41,000 after purchasing an additional 1,019 shares in the last quarter. Fifth Third Bancorp raised its position in Macy’s by 167.3% in the 3rd quarter. Fifth Third Bancorp now owns 2,323 shares of the company’s stock valued at $52,000 after purchasing an additional 1,454 shares in the last quarter. IFP Advisors Inc raised its position in Macy’s by 93.5% in the 3rd quarter. IFP Advisors Inc now owns 3,104 shares of the company’s stock valued at $72,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Macy’s in the 2nd quarter valued at about $147,000. 93.62% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:M opened at $26.05 on Friday. The stock’s 50 day moving average price is $28.08 and its 200 day moving average price is $23.75. The company has a market capitalization of $7.80 billion, a PE ratio of 9.79, a P/E/G ratio of 0.46 and a beta of 2.01. The company has a quick ratio of 0.22, a current ratio of 1.14 and a debt-to-equity ratio of 1.10. Macy’s, Inc. has a 52-week low of $12.00 and a 52-week high of $37.95.

Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, November 18th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.92. Macy’s had a return on equity of 41.33% and a net margin of 3.75%. The firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same quarter last year, the business posted ($0.19) EPS. The firm’s quarterly revenue was up 36.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Macy’s, Inc. will post 4.87 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, January 3rd. Shareholders of record on Wednesday, December 15th were paid a $0.15 dividend. The ex-dividend date was Tuesday, December 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.30%. Macy’s’s dividend payout ratio (DPR) is currently 22.56%.

In other Macy’s news, CFO Adrian V. Mitchell sold 2,397 shares of Macy’s stock in a transaction that occurred on Wednesday, November 24th. The stock was sold at an average price of $31.82, for a total value of $76,272.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.58% of the company’s stock.

A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price target on Macy’s from $29.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, November 19th. Telsey Advisory Group increased their price target on Macy’s from $33.00 to $40.00 and gave the company a “market perform” rating in a research report on Friday, November 19th. Gordon Haskett increased their price target on Macy’s from $37.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 18th. JPMorgan Chase & Co. cut their target price on Macy’s from $37.00 to $33.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 4th. Finally, Cowen raised their target price on Macy’s from $37.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 19th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $33.55.

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.

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

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