Amalgamated Bank Sells 40,355 Shares of Macy's, Inc. (NYSE:M)

Amalgamated Bank cut its stake in shares of Macy's, Inc. (NYSE:M - Free Report) by 23.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 131,899 shares of the company's stock after selling 40,355 shares during the period. Amalgamated Bank's holdings in Macy's were worth $2,069,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new position in shares of Macy's in the 3rd quarter worth about $39,000. EntryPoint Capital LLC bought a new stake in Macy's during the 1st quarter worth approximately $51,000. Abich Financial Wealth Management LLC bought a new stake in Macy's during the 2nd quarter worth approximately $57,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Macy's in the 2nd quarter worth approximately $62,000. Finally, Blue Trust Inc. boosted its stake in shares of Macy's by 619.1% in the 3rd quarter. Blue Trust Inc. now owns 4,868 shares of the company's stock worth $76,000 after buying an additional 4,191 shares during the last quarter. Institutional investors own 87.36% of the company's stock.

Macy's Stock Down 2.0 %

Shares of M traded down $0.31 during mid-day trading on Tuesday, reaching $15.03. 3,538,515 shares of the stock traded hands, compared to its average volume of 6,281,169. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 23.47 and a beta of 2.11. The stock has a fifty day simple moving average of $15.37 and a 200 day simple moving average of $17.04. Macy's, Inc. has a 12-month low of $10.59 and a 12-month high of $22.10. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70.

Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.30 by $0.23. The firm had revenue of $4.94 billion for the quarter, compared to analysts' expectations of $5.06 billion. Macy's had a net margin of 0.80% and a return on equity of 23.14%. Macy's's revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 earnings per share. Sell-side analysts expect that Macy's, Inc. will post 2.72 EPS for the current fiscal year.

Macy's Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date of this dividend is Friday, December 13th. Macy's's dividend payout ratio (DPR) is currently 107.81%.

Wall Street Analyst Weigh In

M has been the subject of a number of analyst reports. Argus upgraded shares of Macy's to a "hold" rating in a report on Thursday, October 10th. Telsey Advisory Group restated a "market perform" rating and issued a $21.00 target price on shares of Macy's in a report on Wednesday, August 21st. Evercore ISI lowered 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 research report on Tuesday, July 16th. Morgan Stanley lowered their target price on shares of Macy's from $18.00 to $17.00 and set an "equal weight" rating for the company in a research note on Thursday, August 22nd. Finally, StockNews.com began coverage on shares of Macy's in a report on Sunday. They set a "hold" rating for the company. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $20.43.

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.