Macy’s, Inc. (NYSE:M) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC cut its position in shares of Macy’s, Inc. (NYSE:M) by 10.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,401 shares of the company’s stock after selling 1,879 shares during the quarter. Metis Global Partners LLC’s holdings in Macy’s were worth $261,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trifecta Capital Advisors LLC acquired a new stake in shares of Macy’s in the fourth quarter valued at about $34,000. Quest Partners LLC acquired a new stake in shares of Macy’s in the third quarter valued at about $35,000. Kestra Investment Management LLC acquired a new stake in shares of Macy’s in the fourth quarter valued at about $38,000. Venturi Wealth Management LLC grew its stake 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 buying an additional 1,685 shares in the last quarter. Finally, Huntington National Bank grew its stake in shares of Macy’s by 937.4% in the third quarter. Huntington National Bank now owns 4,637 shares of the company’s stock valued at $73,000 after buying an additional 4,190 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy’s Stock Down 0.8 %

Shares of Macy’s stock opened at $13.21 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The business’s 50 day simple moving average is $15.19 and its 200-day simple moving average is $15.51. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of 22.38 and a beta of 2.05. Macy’s, Inc. has a twelve month low of $12.60 and a twelve month high of $22.10.

Macy’s (NYSE:M) last announced its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.25. The business had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.76 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. Equities research analysts forecast that Macy’s, Inc. will post 2.39 earnings per share for the current year.

Macy’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.1824 dividend. This is a boost from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a yield of 5.53%. The ex-dividend date of this dividend is Friday, March 14th. Macy’s’s dividend payout ratio (DPR) is currently 116.95%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on M shares. Morgan Stanley lowered their target price 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. JPMorgan Chase & Co. lowered Macy’s from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $19.00 to $14.00 in a research note on Thursday. Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a research note on Thursday. Guggenheim reissued a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Finally, Gordon Haskett downgraded Macy’s from an “accumulate” rating to a “hold” rating in a report on Thursday. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.29.

Macy’s 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.