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

Impax Asset Management Group plc grew its position in shares of Macy’s, Inc. (NYSE:M) by 55.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 63,544 shares of the company’s stock after buying 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 quarter.

A number of other institutional investors also recently modified their holdings of the company. CWM LLC raised its holdings in Macy’s by 7.7% in the 2nd quarter. CWM LLC now owns 8,398 shares of the company’s stock worth $161,000 after purchasing an additional 598 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in Macy’s by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 44,321 shares of the company’s stock worth $851,000 after buying an additional 761 shares during the period. Wedmont Private Capital boosted its position in Macy’s by 6.1% during the 2nd quarter. Wedmont Private Capital now owns 14,403 shares of the company’s stock valued at $275,000 after acquiring an additional 833 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Macy’s by 0.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock worth $2,839,000 after acquiring an additional 877 shares during the period. Finally, Gamco Investors INC. ET AL raised its position in shares of Macy’s by 9.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 11,800 shares of the company’s stock worth $236,000 after acquiring an additional 1,000 shares in the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Macy’s Stock Down 0.5 %

Shares of Macy’s stock opened at $15.49 on Friday. The company has a 50-day simple moving average of $15.39 and a two-hundred day simple moving average of $16.96. The stock has a market capitalization of $4.30 billion, a PE ratio of 24.20 and a beta of 2.11. Macy’s, Inc. has a 52-week low of $13.10 and a 52-week high of $22.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48.

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

Macy’s Announces Dividend

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

Analysts Set New Price Targets

M has been the topic of several research reports. Morgan Stanley dropped their price target on Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. StockNews.com initiated coverage on shares of Macy’s in a research report on Sunday, November 10th. They issued a “hold” rating on the stock. Telsey Advisory Group reissued a “market perform” rating and set a $21.00 price target on shares of Macy’s in a research report on Wednesday, August 21st. Finally, Argus raised shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.