Alliancebernstein L.P. raised its position in Macy’s Inc (NYSE:M) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 556,327 shares of the company’s stock after purchasing an additional 13,798 shares during the period. Alliancebernstein L.P. owned 0.18% of Macy’s worth $12,929,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Macy’s by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 29,994,367 shares of the company’s stock valued at $889,033,000 after purchasing an additional 825,309 shares during the last quarter. BlackRock Inc. increased its position in shares of Macy’s by 2,606.3% in the 1st quarter. BlackRock Inc. now owns 24,416,816 shares of the company’s stock valued at $723,716,000 after purchasing an additional 23,514,600 shares during the last quarter. State Street Corp increased its position in shares of Macy’s by 2.8% in the 1st quarter. State Street Corp now owns 14,715,484 shares of the company’s stock valued at $436,170,000 after purchasing an additional 399,433 shares during the last quarter. American International Group Inc. increased its position in shares of Macy’s by 1.2% in the 1st quarter. American International Group Inc. now owns 12,086,267 shares of the company’s stock valued at $358,237,000 after purchasing an additional 147,156 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Macy’s by 21.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,205,228 shares of the company’s stock valued at $124,636,000 after purchasing an additional 752,898 shares during the last quarter. 81.97% of the stock is currently owned by institutional investors.

A number of research analysts recently commented on the stock. Vetr raised shares of Macy’s from a “buy” rating to a “strong-buy” rating and set a $26.51 target price on the stock in a research report on Wednesday, August 2nd. BMO Capital Markets set a $36.00 target price on shares of Macy’s and gave the company a “buy” rating in a research report on Friday, August 11th. Citigroup Inc. dropped their target price on shares of Macy’s from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, June 9th. Cowen and Company reaffirmed a “market perform” rating and issued a $23.00 target price (down from $26.00) on shares of Macy’s in a research report on Friday, August 11th. Finally, BidaskClub downgraded shares of Macy’s from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Macy’s presently has a consensus rating of “Hold” and an average price target of $27.63.

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In other news, Director John A. Bryant purchased 9,825 shares of Macy’s stock in a transaction dated Wednesday, August 23rd. The stock was bought at an average price of $20.32 per share, with a total value of $199,644.00. Following the completion of the acquisition, the director now owns 9,825 shares in the company, valued at approximately $199,644. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.

Shares of Macy’s Inc (NYSE:M) opened at 21.53 on Monday. The stock has a 50 day moving average of $21.53 and a 200 day moving average of $24.80. The firm has a market cap of $6.56 billion, a PE ratio of 9.79 and a beta of 0.83. Macy’s Inc has a 1-year low of $19.32 and a 1-year high of $45.41.

Macy’s (NYSE:M) last released its earnings results on Thursday, August 10th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. Macy’s had a net margin of 2.71% and a return on equity of 21.38%. The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. Equities research analysts anticipate that Macy’s Inc will post $3.39 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 7.01%. The ex-dividend date of this dividend is Thursday, September 14th. Macy’s’s dividend payout ratio (DPR) is 68.64%.

Macy’s Company Profile

Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.

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

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