Macy's, Inc. (NYSE:M) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC trimmed its holdings in Macy's, Inc. (NYSE:M - Free Report) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quest Partners LLC acquired a new position in shares of Macy's in the third quarter valued at approximately $35,000. Venturi Wealth Management LLC raised its position in 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 during the last quarter. Future Financial Wealth Managment LLC purchased a new position in Macy's during the 3rd quarter worth $39,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Macy's in the 2nd quarter worth $57,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Macy's in the second quarter valued at about $62,000. Hedge funds and other institutional investors own 87.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on M. Argus upgraded shares of Macy's to a "hold" rating in a research report on Thursday, October 10th. Morgan Stanley decreased their price target on Macy's from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Thursday, December 12th. StockNews.com cut Macy's from a "buy" rating to a "hold" rating in a research report on Thursday, December 26th. Guggenheim restated a "neutral" rating on shares of Macy's in a research report on Thursday, December 12th. Finally, Telsey Advisory Group reiterated a "market perform" rating and issued a $17.00 price objective on shares of Macy's in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $17.78.

Macy's Price Performance

M stock traded down $0.33 on Wednesday, reaching $16.03. The company had a trading volume of 6,195,947 shares, compared to its average volume of 6,757,396. Macy's, Inc. has a 1 year low of $14.06 and a 1 year high of $22.10. The company has a market cap of $4.45 billion, a P/E ratio of 27.17 and a beta of 2.07. The company's fifty day moving average is $16.17 and its 200 day moving average is $16.22. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.34 and a current ratio of 1.26.

Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). Macy's had a net margin of 0.73% and a return on equity of 21.99%. The firm had revenue of $4.74 billion for the quarter, compared to analysts' expectations of $4.74 billion. During the same period in the previous year, the company posted $0.21 EPS. The business's quarterly revenue was down 2.4% on a year-over-year basis. On average, research analysts forecast that Macy's, Inc. will post 2.4 earnings per share for the current year.

Macy's Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were issued a dividend of $0.1737 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.33%. Macy's's payout ratio is currently 116.95%.

Macy's Company 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.