Macy’s, Inc. (NYSE:M) Shares Bought by Impax Asset Management Group plc

Impax Asset Management Group plc raised its stake in Macy’s, Inc. (NYSE:M) by 30.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,112 shares of the company’s stock after purchasing an additional 19,568 shares during the period. Impax Asset Management Group plc’s holdings in Macy’s were worth $1,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in Macy’s by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock valued at $41,765,000 after purchasing an additional 118,626 shares in the last quarter. FMR LLC raised its position in shares of Macy’s by 4.4% during the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company’s stock worth $73,611,000 after acquiring an additional 195,880 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Macy’s during the 3rd quarter worth about $594,000. HB Wealth Management LLC raised its position in shares of Macy’s by 724.1% during the 4th quarter. HB Wealth Management LLC now owns 103,584 shares of the company’s stock worth $1,754,000 after acquiring an additional 91,015 shares in the last quarter. Finally, Alerus Financial NA acquired a new stake in shares of Macy’s during the 3rd quarter worth about $2,144,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on M. Telsey Advisory Group reissued a “market perform” rating and set a $17.00 target price on shares of Macy’s in a research report on Tuesday, January 14th. UBS Group cut 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. JPMorgan Chase & Co. cut their target price on Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. StockNews.com raised Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Benchmark upgraded Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $17.75.

Macy’s Trading Down 2.7 %

Shares of M stock opened at $14.56 on Wednesday. The business’s 50 day moving average is $15.48 and its two-hundred day moving average is $15.62. Macy’s, Inc. has a twelve month low of $13.66 and a twelve month high of $22.10. The company has a market capitalization of $4.04 billion, a P/E ratio of 24.67 and a beta of 2.05. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $4.74 billion. During the same quarter last year, the business posted $0.21 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities analysts forecast that Macy’s, Inc. will post 2.39 EPS for the current year.

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.