Macy’s, Inc. (NYSE:M) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its holdings in Macy’s, Inc. (NYSE:M) by 21.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 125,861 shares of the company’s stock after buying an additional 22,020 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Macy’s were worth $1,975,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of M. Crossmark Global Holdings Inc. lifted its holdings in shares of Macy’s by 9.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 240,263 shares of the company’s stock worth $3,770,000 after acquiring an additional 21,500 shares during the last quarter. Covestor Ltd raised its position in Macy’s by 75.0% in the third quarter. Covestor Ltd now owns 7,214 shares of the company’s stock valued at $113,000 after purchasing an additional 3,091 shares during the period. Atria Investments Inc purchased a new stake in Macy’s in the third quarter valued at approximately $211,000. Able Wealth Management LLC acquired a new position in Macy’s during the third quarter worth $203,000. Finally, Impax Asset Management Group plc boosted its position in shares of Macy’s by 55.0% during the third quarter. Impax Asset Management Group plc now owns 63,544 shares of the company’s stock worth $997,000 after buying an additional 22,544 shares during the period. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Macy’s Stock Performance

Shares of M opened at $15.49 on Monday. Macy’s, Inc. has a 1 year low of $13.10 and a 1 year high of $22.10. The stock has a market capitalization of $4.30 billion, a PE ratio of 24.20 and a beta of 2.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. The stock has a 50-day simple moving average of $15.39 and a 200-day simple moving average of $16.96.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.23. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The company had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter in the previous year, the firm earned $0.26 earnings per share. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. On average, analysts predict that Macy’s, Inc. will post 2.72 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.1737 dividend. This represents a $0.69 annualized dividend and a yield of 4.49%. The ex-dividend date is Friday, December 13th. Macy’s’s dividend payout ratio (DPR) is presently 107.81%.

Analyst Ratings Changes

M has been the topic of several research analyst reports. Morgan Stanley cut their price objective on Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Argus upgraded shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. Telsey Advisory Group reissued a “market perform” rating and set a $21.00 price target on shares of Macy’s in a research report on Wednesday, August 21st. Finally, StockNews.com assumed coverage on shares of Macy’s in a report on Sunday, November 10th. They issued a “hold” rating for the company. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Macy’s presently has a consensus rating of “Hold” and a consensus price target of $20.43.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.