MetLife Investment Management LLC Lowers Stock Holdings in Macy’s, Inc. $M

MetLife Investment Management LLC trimmed its position in Macy’s, Inc. (NYSE:M) by 1.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,913 shares of the company’s stock after selling 2,194 shares during the quarter. MetLife Investment Management LLC’s holdings in Macy’s were worth $1,946,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hsbc Holdings PLC lifted its holdings in shares of Macy’s by 173.9% in the first quarter. Hsbc Holdings PLC now owns 85,939 shares of the company’s stock worth $1,087,000 after buying an additional 54,558 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Macy’s by 126.0% in the first quarter. State of Alaska Department of Revenue now owns 184,511 shares of the company’s stock worth $2,317,000 after buying an additional 102,885 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Macy’s by 1,188.7% in the first quarter. GAMMA Investing LLC now owns 44,086 shares of the company’s stock worth $554,000 after buying an additional 40,665 shares in the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of Macy’s in the first quarter worth about $304,000. Finally, Mercer Global Advisors Inc. ADV raised its stake in Macy’s by 33.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 14,161 shares of the company’s stock valued at $240,000 after purchasing an additional 3,579 shares in the last quarter. 87.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $14.00 target price on shares of Macy’s in a research note on Wednesday, August 27th. Morgan Stanley reaffirmed a “negative” rating on shares of Macy’s in a research note on Tuesday, May 6th. JPMorgan Chase & Co. raised their target price on shares of Macy’s from $12.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $12.00 target price (up from $11.00) on shares of Macy’s in a research note on Thursday, May 29th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $13.22.

Macy’s Trading Up 2.0%

M stock opened at $13.50 on Wednesday. The company has a market capitalization of $3.66 billion, a PE ratio of 6.85 and a beta of 1.78. Macy’s, Inc. has a one year low of $9.76 and a one year high of $18.13. The company’s 50 day moving average price is $12.61 and its two-hundred day moving average price is $12.45. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.37 and a current ratio of 1.43.

Macy’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a dividend of $0.1824 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.73 annualized dividend and a dividend yield of 5.4%. Macy’s’s dividend payout ratio (DPR) is 37.06%.

About Macy’s

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.