Douglas Lane & Associates LLC Reduces Stock Position in Macy’s, Inc. (NYSE:M)

Douglas Lane & Associates LLC lessened its holdings in shares of Macy’s, Inc. (NYSE:M) by 4.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,749,793 shares of the company’s stock after selling 83,429 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.63% of Macy’s worth $29,624,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in M. Charles Schwab Investment Management Inc. raised its holdings 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 period. FMR LLC lifted its holdings in shares of Macy’s by 4.4% during the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company’s stock valued at $73,611,000 after acquiring an additional 195,880 shares in the last quarter. Virtu Financial LLC purchased a new stake in Macy’s during the 3rd quarter worth $594,000. Alerus Financial NA acquired a new stake in Macy’s in the 3rd quarter valued at $2,144,000. Finally, Retirement Systems of Alabama raised its position in Macy’s by 57.9% in the third quarter. Retirement Systems of Alabama now owns 782,391 shares of the company’s stock valued at $12,276,000 after purchasing an additional 286,879 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on M. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. StockNews.com downgraded Macy’s from a “buy” rating to a “hold” rating in a report on Thursday, December 26th. Gordon Haskett upgraded Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Monday, December 16th. UBS Group lowered their target price on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research note on Thursday, December 12th. Finally, Morgan Stanley reduced their price target on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Macy’s presently has an average rating of “Hold” and a consensus price target of $18.56.

Macy’s Stock Down 2.5 %

Shares of Macy’s stock traded down $0.41 on Wednesday, hitting $15.95. 3,613,906 shares of the company traded hands, compared to its average volume of 6,193,685. Macy’s, Inc. has a 12-month low of $14.06 and a 12-month high of $22.10. The company has a quick ratio of 0.34, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The company has a market cap of $4.43 billion, a PE ratio of 27.03 and a beta of 2.07. The company has a 50-day moving average price of $16.15 and a 200 day moving average price of $16.23.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 EPS. Sell-side analysts predict that Macy’s, Inc. will post 2.4 earnings per share for the current year.

Macy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were paid a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend was Friday, December 13th. Macy’s’s payout ratio is 116.95%.

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.