Metis Global Partners LLC Sells 1,667 Shares of Macy’s, Inc. (NYSE:M)

Metis Global Partners LLC lessened its stake in shares of Macy’s, Inc. (NYSE:M) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,280 shares of the company’s stock after selling 1,667 shares during the period. Metis Global Partners LLC’s holdings in Macy’s were worth $271,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in M. CWM LLC boosted its stake in shares of Macy’s by 7.7% in the 2nd quarter. CWM LLC now owns 8,398 shares of the company’s stock worth $161,000 after buying an additional 598 shares during the last quarter. SummerHaven Investment Management LLC increased its position in shares of Macy’s by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 44,321 shares of the company’s stock valued at $851,000 after purchasing an additional 761 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of Macy’s by 6.1% in the 2nd quarter. Wedmont Private Capital now owns 14,403 shares of the company’s stock worth $275,000 after purchasing an additional 833 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in shares of Macy’s by 0.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock worth $2,839,000 after buying an additional 877 shares during the last quarter. Finally, Cumberland Advisors Inc. grew its position in Macy’s by 0.9% during the second quarter. Cumberland Advisors Inc. now owns 117,510 shares of the company’s stock valued at $2,256,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on M shares. Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 price target on shares of Macy’s in a research note on Wednesday, August 21st. Argus upgraded Macy’s to a “hold” rating in a research report on Thursday, October 10th. StockNews.com assumed coverage on Macy’s in a research report on Sunday, November 10th. They set a “hold” rating on the stock. Finally, Morgan Stanley reduced their target price on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.43.

Macy’s Stock Down 1.5 %

Shares of M opened at $15.26 on Tuesday. The business’s 50 day moving average is $15.40 and its 200 day moving average is $16.93. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. Macy’s, Inc. has a 12-month low of $14.06 and a 12-month high of $22.10. The company has a market capitalization of $4.23 billion, a PE ratio of 23.84 and a beta of 2.11.

Macy’s (NYSE:M) last released its earnings results on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.30 by $0.23. The firm had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $5.06 billion. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 earnings per share. Research analysts expect that Macy’s, Inc. will post 2.72 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a $0.1737 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.55%. Macy’s’s dividend payout ratio is currently 107.81%.

Macy’s Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.