Parsons Capital Management Inc. RI Invests $254,000 in Macy’s, Inc. (NYSE:M)

Parsons Capital Management Inc. RI purchased a new position in Macy’s, Inc. (NYSE:M) in the fourth quarter, Holdings Channel reports. The fund purchased 15,000 shares of the company’s stock, valued at approximately $254,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its position in shares of Macy’s by 2.4% in the 4th quarter. Pacer Advisors Inc. now owns 41,345 shares of the company’s stock worth $700,000 after acquiring an additional 960 shares in the last quarter. Impact Partnership Wealth LLC boosted its holdings in Macy’s by 7.9% in the fourth quarter. Impact Partnership Wealth LLC now owns 16,871 shares of the company’s stock worth $286,000 after purchasing an additional 1,229 shares during the period. Affinity Capital Advisors LLC increased its stake in Macy’s by 11.5% during the third quarter. Affinity Capital Advisors LLC now owns 12,116 shares of the company’s stock valued at $190,000 after purchasing an additional 1,248 shares during the last quarter. KBC Group NV increased its stake in Macy’s by 19.9% during the third quarter. KBC Group NV now owns 7,952 shares of the company’s stock valued at $125,000 after purchasing an additional 1,319 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. raised its holdings in shares of Macy’s by 12.7% during the third quarter. Jamison Private Wealth Management Inc. now owns 14,026 shares of the company’s stock worth $220,000 after purchasing an additional 1,580 shares during the period. 87.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on M shares. 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. Gordon Haskett raised Macy’s from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Monday, December 16th. Guggenheim reissued a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Finally, UBS Group dropped their target price on Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.78.

Macy’s Trading Up 2.4 %

NYSE:M opened at $15.65 on Wednesday. Macy’s, Inc. has a 1 year low of $13.66 and a 1 year high of $22.10. The business has a fifty day moving average of $15.97 and a 200-day moving average of $15.80. 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 stock has a market cap of $4.34 billion, a price-to-earnings ratio of 26.52 and a beta of 2.07.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the company earned $0.21 EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis. Equities analysts predict that Macy’s, Inc. will post 2.39 earnings per share for the current 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.