Chevy Chase Trust Holdings Inc. lowered its stake in shares of Macy’s Inc. (NYSE:M) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 258,599 shares of the company’s stock after selling 5,879 shares during the period. Chevy Chase Trust Holdings Inc. owned about 0.08% of Macy’s worth $9,581,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC raised its position in Macy’s by 113.8% in the second quarter. Nisa Investment Advisors LLC now owns 120,687 shares of the company’s stock worth $4,056,000 after buying an additional 64,241 shares during the period. First Manhattan Co. increased its position in shares of Macy’s by 56.7% in the second quarter. First Manhattan Co. now owns 4,966 shares of the company’s stock worth $166,000 after buying an additional 1,796 shares in the last quarter. MAI Capital Management increased its position in shares of Macy’s by 16.0% in the second quarter. MAI Capital Management now owns 66,893 shares of the company’s stock worth $2,248,000 after buying an additional 9,228 shares in the last quarter. NN Investment Partners Holdings N.V. increased its position in shares of Macy’s by 31.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 863,631 shares of the company’s stock worth $29,025,000 after buying an additional 205,400 shares in the last quarter. Finally, Breton Hill Capital Ltd. increased its position in shares of Macy’s by 25.0% in the second quarter. Breton Hill Capital Ltd. now owns 25,898 shares of the company’s stock worth $870,000 after buying an additional 5,184 shares in the last quarter. Institutional investors and hedge funds own 87.57% of the company’s stock.

Institutional Ownership by Quarter for Macy`s (NYSE:M)

Macy’s Inc. (NYSE:M) traded down 1.71% during mid-day trading on Friday, reaching $44.14. 3,061,509 shares of the company’s stock traded hands. Macy’s Inc. has a 12 month low of $29.94 and a 12 month high of $45.50. The stock has a market cap of $13.49 billion, a P/E ratio of 20.09 and a beta of 0.77. The company has a 50 day moving average price of $38.51 and a 200-day moving average price of $35.85.

Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, November 10th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by $0.24. Macy’s had a return on equity of 24.83% and a net margin of 2.63%. The firm had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the previous year, the business posted $0.56 EPS. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, analysts anticipate that Macy’s Inc. will post $3.29 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th will be paid a $0.3775 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $1.51 annualized dividend and a dividend yield of 3.42%. Macy’s’s dividend payout ratio is currently 69.27%.

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A number of brokerages have weighed in on M. Vetr downgraded shares of Macy’s from a “hold” rating to a “strong sell” rating and set a $35.17 target price for the company. in a research note on Monday, August 15th. Zacks Investment Research raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Wednesday, November 2nd. Goldman Sachs Group Inc. boosted their target price on shares of Macy’s from $34.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, August 12th. Telsey Advisory Group boosted their target price on shares of Macy’s from $36.00 to $42.00 and gave the stock a “market perform” rating in a research note on Friday, August 12th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and issued a $40.00 target price (up from $35.00) on shares of Macy’s in a research note on Saturday, August 13th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the company’s stock. Macy’s presently has an average rating of “Hold” and an average target price of $42.73.

Macy’s Company Profile

Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.

5 Day Chart for NYSE:M

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