OLD National Bancorp IN Acquires 4,527 Shares of Macy’s, Inc. (NYSE:M)

OLD National Bancorp IN increased its holdings in shares of Macy’s, Inc. (NYSE:M) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 94,527 shares of the company’s stock after acquiring an additional 4,527 shares during the quarter. OLD National Bancorp IN’s holdings in Macy’s were worth $1,600,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of M. Quest Partners LLC acquired a new stake in Macy’s during the third quarter worth about $35,000. Venturi Wealth Management LLC boosted its stake in shares of Macy’s by 282.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after purchasing an additional 1,685 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Macy’s in the 3rd quarter valued at approximately $39,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Macy’s in the 2nd quarter valued at approximately $62,000. Finally, Huntington National Bank boosted its stake in shares of Macy’s by 937.4% in the 3rd quarter. Huntington National Bank now owns 4,637 shares of the company’s stock valued at $73,000 after purchasing an additional 4,190 shares in the last quarter. 87.36% of the stock is owned by institutional investors.

Macy’s Stock Performance

NYSE M opened at $15.76 on Friday. The company has a fifty day simple moving average of $16.00 and a 200 day simple moving average of $15.80. Macy’s, Inc. has a 12-month low of $13.66 and a 12-month high of $22.10. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The company has a market cap of $4.37 billion, a P/E ratio of 26.70 and a beta of 2.07.

Macy’s (NYSE:M) last posted its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) 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 business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same period in the previous year, the business posted $0.21 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Sell-side analysts predict that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on M shares. Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 price objective on shares of Macy’s in a report on Tuesday, January 14th. Gordon Haskett upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Monday, December 16th. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. UBS Group dropped their price objective on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Macy’s currently has a consensus rating of “Hold” and an average target price of $17.78.

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.