Mutual of America Capital Management LLC Decreases Stock Holdings in Macy’s, Inc. (NYSE:M)

Mutual of America Capital Management LLC lessened its holdings in Macy’s, Inc. (NYSE:M) by 2.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 142,894 shares of the company’s stock after selling 3,626 shares during the period. Mutual of America Capital Management LLC owned about 0.05% of Macy’s worth $1,795,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. raised its stake in shares of Macy’s by 495.5% during the fourth quarter. Bessemer Group Inc. now owns 3,412 shares of the company’s stock valued at $58,000 after purchasing an additional 2,839 shares during the period. Raiffeisen Bank International AG purchased a new stake in Macy’s during the 4th quarter worth $111,000. Aster Capital Management DIFC Ltd acquired a new position in Macy’s in the 4th quarter worth $119,000. Versant Capital Management Inc boosted its position in Macy’s by 343.4% in the 1st quarter. Versant Capital Management Inc now owns 9,449 shares of the company’s stock valued at $119,000 after buying an additional 7,318 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC acquired a new stake in shares of Macy’s during the first quarter valued at about $142,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Trading Down 0.4%

Macy’s stock opened at $11.95 on Monday. Macy’s, Inc. has a 1 year low of $9.76 and a 1 year high of $18.13. The firm’s 50 day moving average price is $11.89 and its two-hundred day moving average price is $12.92. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 6.07 and a beta of 1.71. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.37 and a current ratio of 1.43.

Macy’s (NYSE:M) last posted its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. Macy’s had a return on equity of 16.34% and a net margin of 2.45%. The firm had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same quarter in the previous year, the company earned $0.27 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, research analysts predict that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a dividend of $0.1824 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.73 dividend on an annualized basis and a yield of 6.11%. Macy’s’s payout ratio is presently 37.06%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Citigroup reaffirmed a “neutral” rating and issued a $12.00 price target (up from $11.00) on shares of Macy’s in a report on Thursday, May 29th. Barclays initiated coverage on Macy’s in a report on Monday, April 28th. They issued a “cautious” rating and a $12.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on shares of Macy’s from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, May 29th. Telsey Advisory Group dropped their target price on shares of Macy’s from $15.00 to $14.00 and set a “market perform” rating on the stock in a report on Thursday, May 29th. Finally, The Goldman Sachs Group lowered shares of Macy’s from a “buy” rating to a “neutral” rating and decreased their price target for the company from $17.00 to $12.00 in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $12.78.

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.