Russell Investments Group Ltd. cut its holdings in Macy’s Inc (NYSE:M) by 78.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 223,729 shares of the company’s stock after selling 828,516 shares during the period. Russell Investments Group Ltd. owned about 0.07% of Macy’s worth $4,874,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in M. Strs Ohio grew its holdings in shares of Macy’s by 23.6% in the second quarter. Strs Ohio now owns 47,456 shares of the company’s stock valued at $1,102,000 after acquiring an additional 9,065 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in shares of Macy’s by 60.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 15,960 shares of the company’s stock valued at $371,000 after acquiring an additional 6,030 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Macy’s by 29.8% in the second quarter. Sei Investments Co. now owns 16,047 shares of the company’s stock valued at $373,000 after acquiring an additional 3,682 shares in the last quarter. Global X Management Co. LLC grew its holdings in Macy’s by 31.9% during the second quarter. Global X Management Co. LLC now owns 11,958 shares of the company’s stock valued at $278,000 after purchasing an additional 2,891 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in Macy’s by 7.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,677,501 shares of the company’s stock valued at $38,986,000 after purchasing an additional 116,607 shares during the period. 82.29% of the stock is owned by institutional investors.

Macy’s Inc (M) traded down $0.20 during trading on Wednesday, hitting $25.69. The stock had a trading volume of 9,436,100 shares, compared to its average volume of 10,217,788. Macy’s Inc has a 52-week low of $17.41 and a 52-week high of $40.92. The company has a quick ratio of 0.19, a current ratio of 1.29 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $7,885.22, a price-to-earnings ratio of 8.72, a P/E/G ratio of 0.90 and a beta of 0.97.

Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.04. Macy’s had a return on equity of 21.20% and a net margin of 2.83%. The firm had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same period last year, the company earned $0.17 earnings per share. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. research analysts forecast that Macy’s Inc will post 3.39 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a $0.3775 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 5.88%. Macy’s’s dividend payout ratio (DPR) is presently 66.52%.

Several equities analysts have weighed in on the company. Cowen reissued a “hold” rating and set a $23.00 price objective on shares of Macy’s in a report on Thursday, September 28th. BMO Capital Markets reissued an “outperform” rating on shares of Macy’s in a report on Tuesday, August 15th. Vetr lowered Macy’s from a “strong-buy” rating to a “buy” rating and set a $27.26 price objective for the company. in a report on Monday, December 4th. Zacks Investment Research lowered Macy’s from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th. Finally, BidaskClub lowered Macy’s from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. Macy’s presently has an average rating of “Hold” and a consensus price target of $25.41.

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About Macy’s

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.

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

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