Macy’s, Inc. (NYSE:M) Holdings Boosted by American Century Companies Inc.

American Century Companies Inc. raised its holdings in shares of Macy’s, Inc. (NYSE:M) by 12.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,137,132 shares of the company’s stock after acquiring an additional 774,693 shares during the quarter. American Century Companies Inc. owned approximately 2.57% of Macy’s worth $120,832,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Trifecta Capital Advisors LLC bought a new position in shares of Macy’s in the 4th quarter valued at approximately $34,000. Quest Partners LLC bought a new stake in Macy’s during the third quarter valued at about $35,000. Jones Financial Companies Lllp lifted its position in shares of Macy’s by 82.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after acquiring an additional 969 shares during the period. Kestra Investment Management LLC bought a new position in Macy’s in the fourth quarter worth $38,000. Finally, Tompkins Financial Corp bought a new position in shares of Macy’s during the 4th quarter worth about $102,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Stock Down 0.8 %

M opened at $13.27 on Monday. The company has a 50 day moving average of $14.46 and a 200 day moving average of $15.32. 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, Inc. has a 12 month low of $12.60 and a 12 month high of $20.71. The company has a market cap of $3.68 billion, a PE ratio of 22.48 and a beta of 2.07.

Macy’s (NYSE:M) last released its earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.25. The company had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. On average, sell-side analysts expect that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.1824 per share. This is an increase from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.50%. Macy’s’s payout ratio is presently 35.44%.

Wall Street Analysts Forecast Growth

M has been the topic of several recent analyst reports. UBS Group reduced their target price on Macy’s from $9.00 to $8.00 and set a “sell” rating on the stock in a report on Friday, March 7th. New Street Research set a $13.00 target price on shares of Macy’s in a research note on Thursday, March 6th. Morgan Stanley set a $14.00 price objective on Macy’s in a research note on Monday, March 10th. Benchmark upgraded shares of Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. Finally, The Goldman Sachs Group lowered their price target on Macy’s from $19.00 to $17.00 and set a “buy” rating for the company in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Macy’s has a consensus rating of “Hold” and a consensus price target of $15.30.

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.