Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its stake in Macy’s Inc. (NYSE:M) by 183.7% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 61,568 shares of the company’s stock after buying an additional 39,868 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Macy’s were worth $2,281,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Macy’s by 25.1% in the second quarter. Vanguard Group Inc. now owns 23,202,656 shares of the company’s stock worth $779,840,000 after buying an additional 4,647,970 shares during the last quarter. State Street Corp raised its stake in Macy’s by 0.3% in the second quarter. State Street Corp now owns 13,812,762 shares of the company’s stock worth $464,242,000 after buying an additional 46,264 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Macy’s by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 13,078,674 shares of the company’s stock worth $439,572,000 after buying an additional 232,280 shares during the last quarter. FMR LLC raised its stake in Macy’s by 11.3% in the second quarter. FMR LLC now owns 5,960,934 shares of the company’s stock worth $200,347,000 after buying an additional 603,525 shares during the last quarter. Finally, BlackRock Fund Advisors raised its stake in Macy’s by 1.8% in the second quarter. BlackRock Fund Advisors now owns 4,858,055 shares of the company’s stock worth $163,279,000 after buying an additional 86,167 shares during the last quarter. 85.30% of the stock is currently owned by institutional investors and hedge funds.

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

Macy’s Inc. (NYSE:M) traded down 2.29% during mid-day trading on Monday, reaching $43.13. The company had a trading volume of 7,049,142 shares. The stock’s 50-day moving average is $38.65 and its 200 day moving average is $35.96. The firm has a market capitalization of $13.18 billion, a P/E ratio of 19.63 and a beta of 0.77. Macy’s Inc. has a 12 month low of $29.94 and a 12 month high of $45.50.

Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, November 10th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by $0.24. Macy’s had a return on equity of 24.83% and a net margin of 2.63%. The business earned $5.63 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the previous year, the company posted $0.56 EPS. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, analysts predict that Macy’s Inc. will post $3.29 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th will be paid a $0.3775 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $1.51 annualized dividend and a dividend yield of 3.50%. Macy’s’s payout ratio is 69.27%.

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Several equities analysts have commented on the stock. Stifel Nicolaus reiterated a “hold” rating on shares of Macy’s in a research note on Thursday, August 11th. Standpoint Research initiated coverage on shares of Macy’s in a research note on Thursday, August 25th. They issued a “buy” rating and a $72.00 price target on the stock. Vetr lowered shares of Macy’s from a “hold” rating to a “sell” rating and set a $35.17 target price on the stock. in a research report on Monday, September 5th. Deutsche Bank AG raised their target price on shares of Macy’s from $37.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, August 12th. Finally, Jefferies Group restated a “hold” rating and set a $38.00 target price on shares of Macy’s in a research report on Thursday, October 20th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $42.73.

Macy’s Company Profile

Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.

5 Day Chart for NYSE:M

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