State Street Corp Cuts Position in Macy's, Inc. (NYSE:M)

State Street Corp decreased its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 4.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,995,462 shares of the company's stock after selling 416,099 shares during the quarter. State Street Corp owned about 3.24% of Macy's worth $142,666,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Quest Partners LLC bought a new position in shares of Macy's during the 3rd quarter valued at approximately $35,000. Venturi Wealth Management LLC increased its position in Macy's by 282.7% during the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company's stock valued at $36,000 after acquiring an additional 1,685 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Macy's in the third quarter valued at $39,000. Abich Financial Wealth Management LLC bought a new stake in shares of Macy's in the 2nd quarter worth about $57,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Macy's in the 2nd quarter worth about $62,000. Institutional investors own 87.36% of the company's stock.

Analyst Upgrades and Downgrades

M has been the subject of a number of research analyst reports. Guggenheim reissued a "neutral" rating on shares of Macy's in a research note on Thursday. Morgan Stanley decreased their target price on Macy's from $17.00 to $16.00 and set an "equal weight" rating for the company in a research report on Thursday. StockNews.com cut shares of Macy's from a "buy" rating to a "hold" rating in a report on Friday. Argus upgraded shares of Macy's to a "hold" rating in a report on Thursday, October 10th. Finally, UBS Group dropped 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. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $18.38.

Macy's Stock Up 2.6 %

Shares of M stock traded up $0.42 during trading hours on Friday, reaching $16.56. 7,830,541 shares of the company's stock were exchanged, compared to its average volume of 6,403,158. Macy's, Inc. has a fifty-two week low of $14.06 and a fifty-two week high of $22.10. The stock's 50 day moving average is $15.79 and its 200-day moving average is $16.51. The company has a current ratio of 1.26, a quick ratio of 0.34 and a debt-to-equity ratio of 0.67. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 28.07 and a beta of 2.10.

Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.03). The business had revenue of $4.74 billion for the quarter, compared to analysts' expectations of $4.74 billion. Macy's had a return on equity of 21.99% and a net margin of 0.73%. Macy's's revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 EPS. Analysts predict that Macy's, Inc. will post 2.38 earnings per share for the current fiscal year.

Macy's Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.1737 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend is Friday, December 13th. Macy's's payout ratio is 116.95%.

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.