Impax Asset Management Group plc Purchases 22,544 Shares of Macy’s, Inc. (NYSE:M)

Impax Asset Management Group plc grew its holdings in shares of Macy’s, Inc. (NYSE:M) by 55.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,544 shares of the company’s stock after purchasing an additional 22,544 shares during the quarter. Impax Asset Management Group plc’s holdings in Macy’s were worth $997,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of M. Russell Investments Group Ltd. raised its stake in shares of Macy’s by 44.9% during the 1st quarter. Russell Investments Group Ltd. now owns 516,834 shares of the company’s stock valued at $10,331,000 after purchasing an additional 160,093 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of Macy’s by 0.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock worth $2,839,000 after buying an additional 877 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Macy’s in the first quarter valued at approximately $1,043,000. WINTON GROUP Ltd grew its stake in Macy’s by 96.4% during the second quarter. WINTON GROUP Ltd now owns 106,636 shares of the company’s stock valued at $2,047,000 after acquiring an additional 52,337 shares in the last quarter. Finally, US Bancorp DE increased its holdings in Macy’s by 6.4% during the 1st quarter. US Bancorp DE now owns 21,669 shares of the company’s stock worth $433,000 after acquiring an additional 1,306 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Macy’s Price Performance

Shares of Macy’s stock opened at $15.49 on Friday. The firm has a market capitalization of $4.30 billion, a PE ratio of 24.20 and a beta of 2.11. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. Macy’s, Inc. has a 12 month low of $13.10 and a 12 month high of $22.10. The business’s 50-day moving average price is $15.39 and its 200-day moving average price is $16.96.

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

Macy’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.1737 per share. The ex-dividend date is Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.49%. Macy’s’s dividend payout ratio (DPR) is currently 107.81%.

Analysts Set New Price Targets

Several brokerages have commented on M. StockNews.com started coverage on shares of Macy’s in a report on Sunday, November 10th. They issued a “hold” rating for the company. Telsey Advisory Group restated a “market perform” rating and set a $21.00 target price on shares of Macy’s in a research report on Wednesday, August 21st. Argus raised Macy’s to a “hold” rating in a report on Thursday, October 10th. Finally, Morgan Stanley cut their price objective on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Macy’s presently has an average rating of “Hold” and an average price target of $20.43.

About Macy’s

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.