Groesbeck Investment Management Corp NJ boosted its position in shares of Macy's Inc (NYSE:M) by 27.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 169,000 shares of the company’s stock after acquiring an additional 36,500 shares during the period. Macy's makes up approximately 3.0% of Groesbeck Investment Management Corp NJ’s portfolio, making the stock its 10th largest position. Groesbeck Investment Management Corp NJ’s holdings in Macy's were worth $4,257,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position in shares of Macy's by 14.8% in the third quarter. Bank of New York Mellon Corp now owns 8,325,701 shares of the company’s stock valued at $181,666,000 after purchasing an additional 1,076,502 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Macy's by 30.9% in the third quarter. Dimensional Fund Advisors LP now owns 6,969,989 shares of the company’s stock valued at $152,091,000 after purchasing an additional 1,646,858 shares during the period. Prudential Financial Inc. grew its position in shares of Macy's by 75.3% in the third quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company’s stock valued at $109,392,000 after purchasing an additional 2,153,110 shares during the period. LSV Asset Management grew its position in shares of Macy's by 3.8% in the fourth quarter. LSV Asset Management now owns 3,916,854 shares of the company’s stock valued at $98,665,000 after purchasing an additional 144,600 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Macy's by 22.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,696,773 shares of the company’s stock valued at $67,932,000 after purchasing an additional 497,496 shares during the period. Institutional investors own 81.98% of the company’s stock.

Macy's Inc (NYSE:M) opened at $24.15 on Friday. The firm has a market cap of $7,309.59, a PE ratio of 10.64, a P/E/G ratio of 1.01 and a beta of 0.98. Macy's Inc has a 52-week low of $17.41 and a 52-week high of $33.73. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.19 and a current ratio of 1.29.

Macy's (NYSE:M) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. Macy's had a net margin of 2.83% and a return on equity of 21.20%. The firm had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same period in the previous year, the business posted $0.17 earnings per share. Macy's’s quarterly revenue was down 6.1% on a year-over-year basis. analysts anticipate that Macy's Inc will post 3.63 EPS for the current fiscal year.

Several analysts have recently issued reports on the stock. ValuEngine lowered shares of Macy's from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Royal Bank of Canada set a $26.00 target price on shares of Macy's and gave the company a “hold” rating in a research report on Friday, January 19th. Zacks Investment Research upgraded shares of Macy's from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Wednesday, January 10th. BMO Capital Markets set a $38.00 target price on shares of Macy's and gave the company a “buy” rating in a research report on Friday, January 5th. Finally, Vetr upgraded shares of Macy's from a “buy” rating to a “strong-buy” rating and set a $29.84 target price on the stock in a research report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $26.07.

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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.

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

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