Y Intercept Hong Kong Ltd Acquires 46,156 Shares of Macy’s, Inc. (NYSE:M)

Y Intercept Hong Kong Ltd raised its holdings in Macy’s, Inc. (NYSE:M) by 231.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,098 shares of the company’s stock after buying an additional 46,156 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Macy’s were worth $1,119,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in Macy’s by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,023,790 shares of the company’s stock valued at $79,110,000 after acquiring an additional 128,258 shares during the period. FMR LLC grew its position in shares of Macy’s by 4.4% in the third quarter. FMR LLC now owns 4,691,591 shares of the company’s stock valued at $73,611,000 after purchasing an additional 195,880 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of Macy’s by 13.3% during the fourth quarter. Allianz Asset Management GmbH now owns 3,512,142 shares of the company’s stock worth $59,461,000 after purchasing an additional 411,412 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Macy’s by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock worth $41,765,000 after purchasing an additional 118,626 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in Macy’s by 5.2% in the 3rd quarter. Royce & Associates LP now owns 1,420,000 shares of the company’s stock valued at $22,280,000 after purchasing an additional 70,000 shares during the period. 87.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on M shares. JPMorgan Chase & Co. dropped their target price on Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Benchmark upgraded shares of Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. Telsey Advisory Group restated a “market perform” rating and set a $17.00 target price on shares of Macy’s in a research report on Tuesday, January 14th. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Finally, Morgan Stanley lowered their price objective on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.75.

Macy’s Price Performance

Shares of M stock opened at $14.53 on Thursday. The business has a fifty day simple moving average of $15.46 and a 200 day simple moving average of $15.61. The company has a market cap of $4.03 billion, a P/E ratio of 24.63 and a beta of 2.05. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. Macy’s, Inc. has a twelve month low of $13.66 and a twelve month high of $22.10.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same period last year, the company posted $0.21 EPS. On average, sell-side analysts forecast that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

About Macy’s

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.