15,000 Shares in Macy’s, Inc. (NYSE:M) Purchased by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI bought a new stake in Macy’s, Inc. (NYSE:M) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 15,000 shares of the company’s stock, valued at approximately $254,000.

Several other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. lifted its stake in shares of Macy’s by 2.4% during the fourth quarter. Pacer Advisors Inc. now owns 41,345 shares of the company’s stock valued at $700,000 after buying an additional 960 shares during the period. KBC Group NV lifted its stake in shares of Macy’s by 47.4% during the 4th quarter. KBC Group NV now owns 11,718 shares of the company’s stock worth $198,000 after purchasing an additional 3,766 shares during the period. Impact Partnership Wealth LLC boosted its holdings in shares of 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 purchasing an additional 1,229 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Macy’s by 1,076.9% in the fourth quarter. SG Americas Securities LLC now owns 178,778 shares of the company’s stock valued at $3,027,000 after purchasing an additional 163,587 shares during the period. Finally, HB Wealth Management LLC increased its stake in Macy’s by 724.1% in the fourth quarter. HB Wealth Management LLC now owns 103,584 shares of the company’s stock valued at $1,754,000 after purchasing an additional 91,015 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Macy’s Trading Up 2.4 %

M opened at $15.65 on Wednesday. The firm’s 50 day moving average is $15.97 and its 200-day moving average is $15.80. Macy’s, Inc. has a 52-week low of $13.66 and a 52-week high of $22.10. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $4.34 billion, a P/E ratio of 26.52 and a beta of 2.07.

Macy’s (NYSE:M) last released its quarterly earnings results 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). The firm had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $0.21 EPS. Analysts expect that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on M. UBS Group decreased their price target on Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a research note on Thursday, December 12th. Argus upgraded shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. 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. Guggenheim reissued a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Macy’s has an average rating of “Hold” and a consensus price target of $17.78.

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.