The Manufacturers Life Insurance Company Decreases Stock Holdings in Macy’s, Inc. (NYSE:M)

The Manufacturers Life Insurance Company lowered its position in Macy’s, Inc. (NYSE:M) by 3.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 231,219 shares of the company’s stock after selling 7,471 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of Macy’s worth $3,628,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in Macy’s by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock valued at $41,765,000 after buying an additional 118,626 shares during the last quarter. WINTON GROUP Ltd raised its position in shares of Macy’s by 96.4% in the 2nd quarter. WINTON GROUP Ltd now owns 106,636 shares of the company’s stock valued at $2,047,000 after purchasing an additional 52,337 shares during the last quarter. Royce & Associates LP boosted its stake in Macy’s by 5.2% in the 3rd quarter. Royce & Associates LP now owns 1,420,000 shares of the company’s stock worth $22,280,000 after purchasing an additional 70,000 shares in the last quarter. International Assets Investment Management LLC grew its position in Macy’s by 454.3% during the 3rd quarter. International Assets Investment Management LLC now owns 111,587 shares of the company’s stock worth $1,751,000 after purchasing an additional 91,455 shares during the last quarter. Finally, Alden Global Capital LLC increased its stake in Macy’s by 56.1% during the 2nd quarter. Alden Global Capital LLC now owns 606,741 shares of the company’s stock valued at $11,649,000 after purchasing an additional 218,146 shares in the last quarter. Institutional investors own 87.36% of the company’s stock.

Macy’s Trading Down 0.1 %

Shares of M stock opened at $16.43 on Friday. Macy’s, Inc. has a 1-year low of $14.06 and a 1-year high of $22.10. The company has a market cap of $4.56 billion, a price-to-earnings ratio of 25.67 and a beta of 2.10. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34. The stock has a 50 day simple moving average of $15.68 and a 200-day simple moving average of $16.61.

Macy’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.1737 per share. The ex-dividend date is Friday, December 13th. This represents a $0.69 annualized dividend and a yield of 4.23%. Macy’s’s dividend payout ratio (DPR) is currently 107.81%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. Telsey Advisory Group reissued a “market perform” rating and set a $17.00 price target on shares of Macy’s in a research report on Tuesday, November 26th. Argus raised shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. Finally, Morgan Stanley cut their price objective on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Macy’s currently has a consensus rating of “Hold” and a consensus price target of $19.86.

Macy’s Company Profile

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.