Ieq Capital LLC Acquires Shares of 42,071 Macy’s, Inc. (NYSE:M)

Ieq Capital LLC bought a new position in shares of Macy’s, Inc. (NYSE:M) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 42,071 shares of the company’s stock, valued at approximately $712,000.

Several other hedge funds have also modified their holdings of the business. Pacer Advisors Inc. boosted its position in shares of Macy’s by 2.4% in the 4th quarter. Pacer Advisors Inc. now owns 41,345 shares of the company’s stock worth $700,000 after buying an additional 960 shares in the last quarter. Impact Partnership Wealth LLC raised its position in Macy’s by 7.9% during the fourth quarter. Impact Partnership Wealth LLC now owns 16,871 shares of the company’s stock worth $286,000 after acquiring an additional 1,229 shares during the last quarter. KBC Group NV lifted its holdings in shares of Macy’s by 19.9% in the third quarter. KBC Group NV now owns 7,952 shares of the company’s stock valued at $125,000 after purchasing an additional 1,319 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Macy’s by 282.7% in the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after purchasing an additional 1,685 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Macy’s by 8.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 23,399 shares of the company’s stock valued at $367,000 after purchasing an additional 1,866 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Guggenheim restated a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. JPMorgan Chase & Co. reduced their target price on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Morgan Stanley lowered their price target on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, December 12th. Benchmark raised shares of Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.75.

Macy’s Stock Performance

NYSE:M opened at $14.56 on Wednesday. The company has a 50-day moving average of $15.48 and a 200-day moving average of $15.62. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 24.67 and a beta of 2.05. The company has a current ratio of 1.26, a quick ratio of 0.17 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 announced its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same period last year, the firm earned $0.21 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. Analysts forecast that Macy’s, Inc. will post 2.39 earnings per share 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.