Macy’s, Inc. (NYSE:M) Stake Lowered by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its stake in shares of Macy’s, Inc. (NYSE:M) by 4.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,198 shares of the company’s stock after selling 750 shares during the period. Los Angeles Capital Management LLC’s holdings in Macy’s were worth $411,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Waterfront Wealth Inc. lifted its stake in shares of Macy’s by 1.3% in the 3rd quarter. Waterfront Wealth Inc. now owns 36,799 shares of the company’s stock valued at $832,000 after purchasing an additional 473 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Macy’s by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 175,800 shares of the company’s stock valued at $3,333,000 after purchasing an additional 685 shares during the last quarter. Mariner LLC lifted its stake in shares of Macy’s by 3.5% in the 2nd quarter. Mariner LLC now owns 25,004 shares of the company’s stock valued at $474,000 after purchasing an additional 849 shares during the last quarter. Carroll Financial Associates Inc. lifted its stake in shares of Macy’s by 122.6% in the 3rd quarter. Carroll Financial Associates Inc. now owns 1,850 shares of the company’s stock valued at $41,000 after purchasing an additional 1,019 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Macy’s by 167.3% in the 3rd quarter. Fifth Third Bancorp now owns 2,323 shares of the company’s stock valued at $52,000 after purchasing an additional 1,454 shares during the last quarter. Institutional investors and hedge funds own 93.62% of the company’s stock.

In other news, CFO Adrian V. Mitchell sold 2,397 shares of the stock in a transaction that occurred on Wednesday, November 24th. The shares were sold at an average price of $31.82, for a total transaction of $76,272.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.58% of the stock is currently owned by corporate insiders.

A number of research analysts have weighed in on M shares. Bank of America boosted their target price on shares of Macy’s from $21.00 to $25.00 and gave the stock an “underperform” rating in a research report on Friday, November 19th. Morgan Stanley boosted their target price on shares of Macy’s from $21.00 to $23.00 and gave the stock an “underweight” rating in a research report on Friday, November 19th. JPMorgan Chase & Co. cut their target price on shares of Macy’s from $37.00 to $33.00 and set a “neutral” rating for the company in a research report on Tuesday, January 4th. Cowen boosted their target price on shares of Macy’s from $37.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 19th. Finally, Credit Suisse Group boosted their target price on shares of Macy’s from $19.00 to $32.00 and gave the stock an “underperform” rating in a research report on Friday, November 19th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Macy’s presently has an average rating of “Hold” and an average price target of $33.55.

Shares of M opened at $26.05 on Friday. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 9.79, a P/E/G ratio of 0.46 and a beta of 2.01. The company has a quick ratio of 0.22, a current ratio of 1.14 and a debt-to-equity ratio of 1.10. Macy’s, Inc. has a 12 month low of $12.00 and a 12 month high of $37.95. The company has a 50-day moving average price of $28.08 and a two-hundred day moving average price of $23.75.

Macy’s (NYSE:M) last issued its quarterly earnings data on Thursday, November 18th. The company reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.92. The firm had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.23 billion. Macy’s had a net margin of 3.75% and a return on equity of 41.33%. The company’s quarterly revenue was up 36.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.19) earnings per share. Equities research analysts expect that Macy’s, Inc. will post 4.87 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 3rd. Shareholders of record on Wednesday, December 15th were paid a dividend of $0.15 per share. The ex-dividend date was Tuesday, December 14th. This represents a $0.60 annualized dividend and a yield of 2.30%. Macy’s’s dividend payout ratio is 22.56%.

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.

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

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