Mutual of America Capital Management LLC Lowers Stock Position in Macy’s, Inc. (NYSE:M)

Mutual of America Capital Management LLC cut its position in shares of Macy’s, Inc. (NYSE:M) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 169,243 shares of the company’s stock after selling 8,080 shares during the period. Mutual of America Capital Management LLC owned 0.06% of Macy’s worth $3,405,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Macy’s by 7.8% during the third quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock valued at $422,390,000 after purchasing an additional 2,645,577 shares in the last quarter. Deutsche Bank AG lifted its holdings in Macy’s by 260.8% during the third quarter. Deutsche Bank AG now owns 2,547,529 shares of the company’s stock valued at $29,577,000 after purchasing an additional 1,841,432 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Macy’s by 15.7% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 544,534 shares of the company’s stock valued at $6,322,000 after purchasing an additional 73,924 shares in the last quarter. American Century Companies Inc. lifted its holdings in Macy’s by 20.8% during the third quarter. American Century Companies Inc. now owns 3,287,930 shares of the company’s stock valued at $38,173,000 after purchasing an additional 565,269 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Macy’s during the fourth quarter valued at $6,021,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

Macy’s Price Performance

Macy’s stock opened at $19.01 on Thursday. Macy’s, Inc. has a 12-month low of $10.54 and a 12-month high of $22.10. The stock has a market cap of $5.21 billion, a P/E ratio of 51.38 and a beta of 2.15. The company has a 50-day moving average price of $19.71 and a 200 day moving average price of $17.16. The company has a current ratio of 1.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.72.

Macy’s (NYSE:M) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.47. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The business had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $8.07 billion. During the same period last year, the business earned $1.88 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. Sell-side analysts anticipate that Macy’s, Inc. will post 2.57 earnings per share for the current year.

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.1737 per share. The ex-dividend date was Thursday, March 14th. This is a boost from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.65%. Macy’s’s dividend payout ratio (DPR) is currently 186.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on M shares. Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a report on Thursday, March 28th. JPMorgan Chase & Co. raised their price target on shares of Macy’s from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. StockNews.com initiated coverage on shares of Macy’s in a research note on Tuesday. They issued a “hold” rating on the stock. TD Cowen downgraded shares of Macy’s from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $23.00 to $20.00 in a research note on Thursday, February 29th. Finally, The Goldman Sachs Group raised their price target on shares of Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.45.

Insider Buying and Selling at Macy’s

In other Macy’s news, CFO Adrian V. Mitchell sold 13,249 shares of Macy’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $20.42, for a total transaction of $270,544.58. Following the completion of the sale, the chief financial officer now directly owns 99,098 shares in the company, valued at $2,023,581.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Jeffrey Gennette sold 78,567 shares of Macy’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total value of $1,604,338.14. Following the completion of the transaction, the director now owns 994,301 shares in the company, valued at $20,303,626.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adrian V. Mitchell sold 13,249 shares of Macy’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total transaction of $270,544.58. Following the completion of the transaction, the chief financial officer now owns 99,098 shares of the company’s stock, valued at approximately $2,023,581.16. The disclosure for this sale can be found here. Insiders sold a total of 218,424 shares of company stock worth $4,405,507 over the last three months. Insiders own 1.52% of the company’s stock.

Macy’s Company 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.