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

Douglas Lane & Associates LLC trimmed its holdings in Macy’s, Inc. (NYSE:M) by 4.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,833,222 shares of the company’s stock after selling 89,224 shares during the period. Douglas Lane & Associates LLC owned approximately 0.66% of Macy’s worth $28,763,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Riverview Trust Co purchased a new position in shares of Macy’s during the 1st quarter valued at $27,000. Future Financial Wealth Managment LLC purchased a new position in shares of Macy’s during the 3rd quarter valued at $39,000. Fidelis Capital Partners LLC purchased a new position in shares of Macy’s during the 1st quarter valued at $42,000. EntryPoint Capital LLC purchased a new position in shares of Macy’s during the 1st quarter valued at $51,000. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Macy’s during the 2nd quarter valued at $57,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on M shares. StockNews.com started coverage on shares of Macy’s in a report on Wednesday. They set a “hold” rating for the company. Evercore ISI dropped their price objective on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a report on Tuesday, July 16th. Morgan Stanley dropped their price objective on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a report on Wednesday, August 21st. Finally, Argus raised shares of Macy’s to a “hold” rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.43.

Macy’s Trading Up 2.2 %

M stock traded up $0.34 during trading on Friday, reaching $15.78. The company had a trading volume of 3,717,408 shares, compared to its average volume of 6,460,070. Macy’s, Inc. has a 52 week low of $10.54 and a 52 week high of $22.10. The company has a market cap of $4.36 billion, a P/E ratio of 526.00 and a beta of 2.11. The business has a 50 day moving average of $15.50 and a 200 day moving average of $17.58. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34.

Macy’s (NYSE:M) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.23. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The company had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same period in the prior year, the firm earned $0.26 earnings per share. Macy’s’s revenue was down 3.8% on a year-over-year basis. As a group, sell-side analysts forecast that Macy’s, Inc. will post 2.72 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $0.1737 dividend. This represents a $0.69 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend was Friday, September 13th. Macy’s’s dividend payout ratio is currently 2,300.00%.

Macy’s 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.