International Assets Investment Management LLC Lowers Holdings in Macy's, Inc. (NYSE:M)

International Assets Investment Management LLC lessened its position in Macy's, Inc. (NYSE:M - Free Report) by 85.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,213 shares of the company's stock after selling 95,374 shares during the quarter. International Assets Investment Management LLC's holdings in Macy's were worth $268,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Federated Hermes Inc. grew its holdings in shares of Macy's by 2.5% during the 2nd quarter. Federated Hermes Inc. now owns 44,337 shares of the company's stock valued at $851,000 after purchasing an additional 1,095 shares during the last quarter. Affinity Capital Advisors LLC boosted its position in Macy's by 11.5% during the third quarter. Affinity Capital Advisors LLC now owns 12,116 shares of the company's stock valued at $190,000 after buying an additional 1,248 shares during the period. KBC Group NV grew its stake in shares of Macy's by 19.9% during the third quarter. KBC Group NV now owns 7,952 shares of the company's stock valued at $125,000 after buying an additional 1,319 shares during the last quarter. Jamison Private Wealth Management Inc. grew its stake in shares of Macy's by 12.7% during the third quarter. Jamison Private Wealth Management Inc. now owns 14,026 shares of the company's stock valued at $220,000 after buying an additional 1,580 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of Macy's by 282.7% in the third 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 period. Hedge funds and other institutional investors own 87.36% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Morgan Stanley dropped their target price on Macy's from $17.00 to $16.00 and set an "equal weight" rating for the company in a report on Thursday, December 12th. JPMorgan Chase & Co. dropped their price objective on Macy's from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. UBS Group decreased their target price on shares of Macy's from $10.00 to $9.00 and set a "sell" rating on the stock in a research note on Thursday, December 12th. Telsey Advisory Group reiterated a "market perform" rating and set a $17.00 price target on shares of Macy's in a report on Wednesday, December 11th. Finally, Gordon Haskett raised shares of 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. 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $17.78.

Macy's Price Performance

Shares of NYSE M opened at $15.89 on Monday. 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, Inc. has a 1 year low of $14.06 and a 1 year high of $22.10. The company's 50-day moving average is $16.19 and its 200 day moving average is $16.16. The stock has a market capitalization of $4.41 billion, a P/E ratio of 26.93 and a beta of 2.07.

Macy's (NYSE:M - Get Free Report) last announced its earnings results 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). The firm had revenue of $4.74 billion during 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 firm's revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 EPS. On average, sell-side analysts expect that Macy's, Inc. will post 2.4 earnings per share for the current year.

Macy's Dividend Announcement

The firm also recently announced 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. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend was Friday, December 13th. Macy's's dividend payout ratio (DPR) is presently 116.95%.

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.