Dana Investment Advisors Inc. Lowers Stake in Macy's, Inc. (NYSE:M)

Dana Investment Advisors Inc. decreased its holdings in Macy's, Inc. (NYSE:M - Free Report) by 11.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 241,940 shares of the company's stock after selling 31,621 shares during the period. Dana Investment Advisors Inc. owned about 0.09% of Macy's worth $4,096,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Trifecta Capital Advisors LLC bought a new position in Macy's in the fourth quarter worth approximately $34,000. Quest Partners LLC purchased a new stake in shares of Macy's in the 3rd quarter worth $35,000. Venturi Wealth Management LLC grew its position in shares of Macy's by 282.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company's stock worth $36,000 after buying an additional 1,685 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Macy's by 82.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock valued at $36,000 after buying an additional 969 shares during the period. Finally, Kestra Investment Management LLC bought a new stake in shares of Macy's in the fourth quarter valued at about $38,000. 87.36% of the stock is currently owned by institutional investors.

Macy's Stock Performance

Macy's stock traded up $0.02 during mid-day trading on Monday, reaching $14.08. 10,055,312 shares of the company traded hands, compared to its average volume of 7,206,143. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. The firm's fifty day moving average is $15.03 and its two-hundred day moving average is $15.46. Macy's, Inc. has a fifty-two week low of $12.60 and a fifty-two week high of $22.10. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 23.86 and a beta of 2.07.

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Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates of $1.55 by $0.25. Macy's had a return on equity of 21.99% and a net margin of 0.73%. The business had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.76 billion. On average, equities research analysts expect that Macy's, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy's Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.1824 dividend. This represents a $0.73 annualized dividend and a yield of 5.18%. This is a positive change from Macy's's previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, March 14th. Macy's's dividend payout ratio is presently 35.44%.

Wall Street Analysts Forecast Growth

M has been the topic of several recent research reports. JPMorgan Chase & Co. cut shares of Macy's from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $19.00 to $14.00 in a report on Thursday. StockNews.com upgraded shares of Macy's from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Citigroup cut their price objective on shares of Macy's from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Friday. The Goldman Sachs Group lowered their target price on Macy's from $19.00 to $17.00 and set a "buy" rating for the company in a report on Friday. Finally, UBS Group cut their price target on Macy's from $9.00 to $8.00 and set a "sell" rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $15.56.

Macy's 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.