Macy’s, Inc. (NYSE:M) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC lifted its stake in shares of Macy’s, Inc. (NYSE:M) by 55.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 68,389 shares of the company’s stock after purchasing an additional 24,461 shares during the quarter. Jennison Associates LLC’s holdings in Macy’s were worth $1,546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Macy’s by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 33,678,805 shares of the company’s stock worth $638,550,000 after buying an additional 1,095,037 shares in the last quarter. Geode Capital Management LLC grew its holdings in Macy’s by 3.9% in the 2nd quarter. Geode Capital Management LLC now owns 5,418,101 shares of the company’s stock worth $102,727,000 after buying an additional 204,115 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in Macy’s by 9.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 4,970,736 shares of the company’s stock worth $94,245,000 after buying an additional 412,718 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Macy’s by 204.4% in the 2nd quarter. Renaissance Technologies LLC now owns 4,018,764 shares of the company’s stock worth $76,196,000 after buying an additional 2,698,600 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in Macy’s by 23.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,604,444 shares of the company’s stock worth $68,340,000 after buying an additional 679,866 shares in the last quarter. Institutional investors and hedge funds own 93.62% of the company’s stock.

M opened at $26.05 on Friday. The stock has a fifty day moving average of $28.08 and a 200-day moving average of $23.75. The firm has a market capitalization of $7.80 billion, a P/E ratio of 9.79, a PEG ratio of 0.46 and a beta of 2.01. Macy’s, Inc. has a 12-month low of $12.00 and a 12-month high of $37.95. The company has a quick ratio of 0.22, a current ratio of 1.14 and a debt-to-equity ratio of 1.10.

Macy’s (NYSE:M) last released its earnings results on Thursday, November 18th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.92. The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.23 billion. Macy’s had a return on equity of 41.33% and a net margin of 3.75%. The company’s revenue for the quarter was up 36.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) earnings per share. On average, analysts expect that Macy’s, Inc. will post 4.87 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, January 3rd. Stockholders of record on Wednesday, December 15th were issued a $0.15 dividend. The ex-dividend date was Tuesday, December 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.30%. Macy’s’s payout ratio is currently 22.56%.

In other news, CFO Adrian V. Mitchell sold 2,397 shares of the stock in a transaction on Wednesday, November 24th. The stock was sold at an average price of $31.82, for a total value of $76,272.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.58% of the stock is owned by corporate insiders.

M has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price objective on Macy’s from $37.00 to $33.00 and set a “neutral” rating for the company in a report on Tuesday, January 4th. Cowen increased their price target on Macy’s from $37.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 19th. Telsey Advisory Group increased their price target on Macy’s from $33.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday, November 19th. Zacks Investment Research raised Macy’s from a “hold” rating to a “strong-buy” rating and set a $30.00 price target for the company in a research note on Thursday, January 6th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Macy’s from $29.00 to $35.00 and gave the company a “hold” rating in a research note on Friday, November 19th. Four research analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.55.

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.

Further Reading: What does a bar chart display?

Want to see what other hedge funds are holding M? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macy’s, Inc. (NYSE:M).

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

Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter.