State of New Jersey Common Pension Fund D Has $2.35 Million Position in Macy’s, Inc. (NYSE:M)

State of New Jersey Common Pension Fund D boosted its holdings in Macy’s, Inc. (NYSE:M) by 10.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 138,650 shares of the company’s stock after acquiring an additional 12,789 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Macy’s were worth $2,347,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Quest Partners LLC bought a new position in Macy’s during the 3rd quarter valued at $35,000. Venturi Wealth Management LLC lifted its stake in Macy’s by 282.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after acquiring an additional 1,685 shares in the last quarter. Huntington National Bank raised its stake in shares of Macy’s by 937.4% during 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 during the period. Blue Trust Inc. raised its stake in shares of Macy’s by 619.1% during the 3rd quarter. Blue Trust Inc. now owns 4,868 shares of the company’s stock worth $76,000 after purchasing an additional 4,191 shares during the period. Finally, Tompkins Financial Corp bought a new stake in shares of Macy’s during the 4th quarter worth $102,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Stock Up 3.0 %

Shares of M opened at $15.80 on Friday. The firm has a market cap of $4.39 billion, a P/E ratio of 26.77 and a beta of 2.05. The stock has a 50 day simple moving average of $15.59 and a two-hundred day simple moving average of $15.63. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. Macy’s, Inc. has a 1 year low of $13.66 and a 1 year high of $22.10.

Macy’s (NYSE:M) last issued its 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 during 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 firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 EPS. On average, analysts forecast that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. UBS Group lowered their target price 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. JPMorgan Chase & Co. lowered their target price on Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Telsey Advisory Group restated a “market perform” rating and issued a $17.00 price objective on shares of Macy’s in a research note on Tuesday, January 14th. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Gordon Haskett cut Macy’s from a “buy” rating to an “accumulate” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $17.75.

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.