Douglas Lane & Associates LLC Sells 83,429 Shares of Macy’s, Inc. (NYSE:M)

Douglas Lane & Associates LLC cut its position in shares of Macy’s, Inc. (NYSE:M) by 4.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,749,793 shares of the company’s stock after selling 83,429 shares during the period. Douglas Lane & Associates LLC’s holdings in Macy’s were worth $29,624,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of M. Commonwealth Equity Services LLC boosted its position in Macy’s by 4.0% in the second quarter. Commonwealth Equity Services LLC now owns 49,065 shares of the company’s stock valued at $942,000 after buying an additional 1,900 shares in the last quarter. Arizona State Retirement System boosted its stake in Macy’s by 1.9% in the second quarter. Arizona State Retirement System now owns 76,784 shares of the company’s stock worth $1,474,000 after purchasing an additional 1,462 shares in the last quarter. United Services Automobile Association grew its holdings in shares of Macy’s by 4.8% during the second quarter. United Services Automobile Association now owns 22,038 shares of the company’s stock worth $423,000 after purchasing an additional 1,012 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in shares of Macy’s by 4.2% in the second quarter. Texas Permanent School Fund Corp now owns 250,022 shares of the company’s stock valued at $4,800,000 after buying an additional 10,156 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Macy’s by 18.9% in the second quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock valued at $90,333,000 after buying an additional 747,542 shares during the last quarter. 87.36% of the stock is owned by institutional investors.

Macy’s Stock Down 2.5 %

M traded down $0.41 during trading on Wednesday, reaching $15.95. The company had a trading volume of 3,613,906 shares, compared to its average volume of 6,193,685. The company has a market cap of $4.43 billion, a P/E ratio of 27.03 and a beta of 2.07. Macy’s, Inc. has a 12 month low of $14.06 and a 12 month high of $22.10. The business’s fifty day moving average price is $16.15 and its 200 day moving average price is $16.23. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.34.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03). The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm earned $0.21 earnings per share. Equities analysts anticipate that Macy’s, Inc. will post 2.4 EPS for the current year.

Macy’s Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have weighed in on M shares. Argus upgraded shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. UBS Group dropped their price objective on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. StockNews.com cut Macy’s from a “buy” rating to a “hold” rating in a research note on Thursday, December 26th. Gordon Haskett upgraded Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Monday, December 16th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $17.00 price target on shares of Macy’s in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $18.56.

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.