Impact Partnership Wealth LLC Buys 1,229 Shares of Macy’s, Inc. (NYSE:M)

Impact Partnership Wealth LLC lifted its stake in shares of Macy’s, Inc. (NYSE:M) by 7.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,871 shares of the company’s stock after buying an additional 1,229 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Macy’s were worth $286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of M. Quest Partners LLC purchased a new stake in shares of Macy’s in the 3rd quarter worth about $35,000. Venturi Wealth Management LLC increased its stake in shares of Macy’s by 282.7% during 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. Future Financial Wealth Managment LLC purchased a new position in shares of Macy’s during the third quarter valued at approximately $39,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Macy’s during the second quarter valued at approximately $62,000. Finally, Huntington National Bank boosted its position in shares of Macy’s by 937.4% in the 3rd quarter. Huntington National Bank now owns 4,637 shares of the company’s stock worth $73,000 after purchasing an additional 4,190 shares in the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on M. Morgan Stanley lowered their price objective on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. Gordon Haskett raised Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Monday, December 16th. UBS Group cut their price target on Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research note on Thursday, December 12th. JPMorgan Chase & Co. cut their price target on Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $17.00 price objective on shares of Macy’s in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $17.78.

Macy’s Stock Performance

NYSE:M opened at $15.34 on Friday. The stock has a 50-day moving average price of $15.96 and a 200 day moving average price of $15.90. 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 12-month low of $13.66 and a 12-month high of $22.10. The stock has a market capitalization of $4.26 billion, a P/E ratio of 25.99 and a beta of 2.07.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the business earned $0.21 EPS. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Equities research analysts forecast that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Company Profile

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.