Kestra Investment Management LLC Buys New Stake in Macy’s, Inc. (NYSE:M)

Kestra Investment Management LLC bought a new stake in Macy’s, Inc. (NYSE:M) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,245 shares of the company’s stock, valued at approximately $38,000.

Several other large investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its stake in Macy’s by 4.7% during 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 boosted its stake in Macy’s by 4.4% during the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company’s stock valued at $73,611,000 after purchasing an additional 195,880 shares in the last quarter. Virtu Financial LLC bought a new position in Macy’s during the 3rd quarter valued at $594,000. HB Wealth Management LLC boosted its stake in Macy’s by 724.1% during the 4th quarter. HB Wealth Management LLC now owns 103,584 shares of the company’s stock valued at $1,754,000 after purchasing an additional 91,015 shares in the last quarter. Finally, Alerus Financial NA bought a new position in Macy’s during the 3rd quarter valued at $2,144,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy’s Price Performance

M opened at $15.00 on Friday. The stock has a fifty day moving average of $15.56 and a 200-day moving average of $15.63. The firm has a market capitalization of $4.16 billion, a P/E ratio of 25.42 and a beta of 2.05. Macy’s, Inc. has a 12-month low of $13.66 and a 12-month high of $22.10. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last announced its quarterly earnings data 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 return on equity of 21.99% and a net margin of 0.73%. The firm had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the prior year, the business posted $0.21 earnings per share. Macy’s’s revenue was down 2.4% on a year-over-year basis. Equities analysts forecast that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on M shares. Telsey Advisory Group reissued a “market perform” rating and set a $17.00 price objective on shares of Macy’s in a research note on Tuesday, January 14th. Morgan Stanley reduced their price objective on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. StockNews.com raised Macy’s from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Guggenheim reissued a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. Finally, Benchmark raised 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.75.

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.