Macy’s, Inc. (NYSE:M) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its position in shares of Macy’s, Inc. (NYSE:M) by 11.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 14,007 shares of the company’s stock after selling 1,790 shares during the quarter. M&T Bank Corp’s holdings in Macy’s were worth $176,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of M. Dimensional Fund Advisors LP boosted its stake in shares of Macy’s by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,751,211 shares of the company’s stock valued at $266,666,000 after purchasing an additional 1,149,454 shares during the period. Cooper Creek Partners Management LLC boosted its stake in shares of Macy’s by 26.2% in the fourth quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company’s stock valued at $132,701,000 after purchasing an additional 1,627,572 shares during the period. FMR LLC boosted its stake in shares of Macy’s by 59.9% in the fourth quarter. FMR LLC now owns 7,503,742 shares of the company’s stock valued at $127,038,000 after purchasing an additional 2,812,151 shares during the period. American Century Companies Inc. boosted its stake in shares of Macy’s by 12.2% in the fourth quarter. American Century Companies Inc. now owns 7,137,132 shares of the company’s stock valued at $120,832,000 after purchasing an additional 774,693 shares during the period. Finally, Norges Bank purchased a new position in shares of Macy’s in the fourth quarter valued at approximately $96,689,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Telsey Advisory Group cut their price objective on shares of Macy’s from $15.00 to $14.00 and set a “market perform” rating on the stock in a report on Thursday, May 29th. Morgan Stanley restated a “negative” rating on shares of Macy’s in a research report on Tuesday, May 6th. Citigroup reiterated a “neutral” rating and issued a $12.00 price objective (up from $11.00) on shares of Macy’s in a research report on Thursday, May 29th. Barclays initiated coverage on shares of Macy’s in a research report on Monday, April 28th. They issued a “cautious” rating and a $12.00 price objective on the stock. Finally, The Goldman Sachs Group lowered shares of Macy’s from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $17.00 to $12.00 in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $12.78.

Macy’s Price Performance

NYSE:M opened at $11.95 on Friday. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 6.07 and a beta of 1.71. The company has a current ratio of 1.43, a quick ratio of 0.37 and a debt-to-equity ratio of 0.62. The company’s 50-day moving average is $11.89 and its two-hundred day moving average is $12.97. Macy’s, Inc. has a 12-month low of $9.76 and a 12-month high of $18.13.

Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.01. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.38 billion. Macy’s had a net margin of 2.45% and a return on equity of 16.34%. The company’s revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 EPS. Research analysts expect that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were issued a dividend of $0.1824 per share. The ex-dividend date was Friday, June 13th. This represents a $0.73 annualized dividend and a dividend yield of 6.11%. Macy’s’s payout ratio is currently 37.06%.

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.