Macy’s, Inc. (NYSE:M) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its position in shares of Macy’s, Inc. (NYSE:M) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 169,243 shares of the company’s stock after selling 8,080 shares during the period. Mutual of America Capital Management LLC’s holdings in Macy’s were worth $3,405,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of M. Gabelli Funds LLC boosted its position in shares of Macy’s by 0.4% in the first quarter. Gabelli Funds LLC now owns 129,000 shares of the company’s stock worth $3,142,000 after acquiring an additional 500 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of Macy’s by 1.8% in the first quarter. Vontobel Holding Ltd. now owns 35,384 shares of the company’s stock worth $862,000 after acquiring an additional 640 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of Macy’s by 52.3% in the first quarter. Lazard Asset Management LLC now owns 1,995 shares of the company’s stock worth $48,000 after acquiring an additional 685 shares during the last quarter. Estabrook Capital Management boosted its position in shares of Macy’s by 77.8% in the first quarter. Estabrook Capital Management now owns 1,600 shares of the company’s stock worth $39,000 after acquiring an additional 700 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of Macy’s by 4.0% in the second quarter. Captrust Financial Advisors now owns 20,999 shares of the company’s stock worth $337,000 after acquiring an additional 802 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on M shares. Telsey Advisory Group reissued a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a research report on Thursday, March 28th. Morgan Stanley decreased their target price on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. TD Cowen lowered shares of Macy’s from an “outperform” rating to a “market perform” rating and cut their price target for the company from $23.00 to $20.00 in a report on Thursday, February 29th. StockNews.com began coverage on shares of Macy’s in a report on Tuesday. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group raised their price target on shares of Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Macy’s has an average rating of “Hold” and a consensus price target of $17.45.

Macy’s Trading Up 0.1 %

M opened at $19.01 on Thursday. The firm has a market capitalization of $5.21 billion, a P/E ratio of 51.38 and a beta of 2.15. The firm’s 50 day moving average is $19.71 and its 200-day moving average is $17.16. Macy’s, Inc. has a 52-week low of $10.54 and a 52-week high of $22.10. The company has a quick ratio of 0.39, a current ratio of 1.37 and a debt-to-equity ratio of 0.72.

Macy’s (NYSE:M) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.47. The company had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.07 billion. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.88 earnings per share. Analysts expect that Macy’s, Inc. will post 2.57 EPS for the current fiscal year.

Macy’s Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a dividend of $0.1737 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.65%. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio (DPR) is currently 186.49%.

Insider Activity

In related news, Director Jeffrey Gennette sold 78,567 shares of Macy’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total value of $1,604,338.14. Following the completion of the sale, the director now owns 994,301 shares in the company, valued at $20,303,626.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Paul Griscom sold 2,969 shares of Macy’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $20.43, for a total value of $60,656.67. Following the completion of the sale, the senior vice president now owns 21,436 shares in the company, valued at $437,937.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey Gennette sold 78,567 shares of Macy’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $1,604,338.14. Following the completion of the sale, the director now owns 994,301 shares of the company’s stock, valued at approximately $20,303,626.42. The disclosure for this sale can be found here. Insiders have sold 218,424 shares of company stock worth $4,405,507 over the last 90 days. Company insiders own 1.52% of the company’s stock.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.