Mutual of America Capital Management LLC Sells 5,750 Shares of Macy’s, Inc. (NYSE:M)

Mutual of America Capital Management LLC lowered its holdings in shares of Macy’s, Inc. (NYSE:M) by 3.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 157,541 shares of the company’s stock after selling 5,750 shares during the quarter. Mutual of America Capital Management LLC owned about 0.06% of Macy’s worth $3,025,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Riverview Trust Co acquired a new stake in shares of Macy’s in the first quarter worth $27,000. Fidelis Capital Partners LLC bought a new position in shares of Macy’s in the first quarter worth about $42,000. Future Financial Wealth Managment LLC acquired a new position in shares of Macy’s during the 1st quarter worth about $50,000. EntryPoint Capital LLC bought a new stake in Macy’s during the 1st quarter valued at approximately $51,000. Finally, Parallel Advisors LLC grew its holdings in Macy’s by 81.4% in the 4th quarter. Parallel Advisors LLC now owns 3,019 shares of the company’s stock valued at $61,000 after buying an additional 1,355 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on M shares. StockNews.com started coverage on Macy’s in a report on Monday. They set a “hold” rating for the company. Morgan Stanley decreased their price target on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. Evercore ISI cut their price objective on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research report on Tuesday, July 16th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $21.00 target price on shares of Macy’s in a research report on Wednesday, August 21st. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.50.

Insiders Place Their Bets

In other news, EVP Danielle L. Kirgan sold 24,147 shares of Macy’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $457,827.12. Following the sale, the executive vice president now directly owns 348,000 shares in the company, valued at $6,598,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Danielle L. Kirgan sold 24,147 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $457,827.12. Following the completion of the transaction, the executive vice president now directly owns 348,000 shares of the company’s stock, valued at $6,598,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Antony Spring sold 18,981 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $359,879.76. Following the transaction, the chief executive officer now directly owns 267,265 shares in the company, valued at approximately $5,067,344.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,665 shares of company stock worth $842,372. Corporate insiders own 2.77% of the company’s stock.

Macy’s Stock Down 0.9 %

Shares of NYSE:M opened at $15.16 on Tuesday. Macy’s, Inc. has a 12 month low of $10.54 and a 12 month high of $22.10. The firm has a market cap of $4.19 billion, a P/E ratio of 505.33 and a beta of 2.11. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The company’s 50-day moving average price is $15.86 and its two-hundred day moving average price is $18.09.

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

Macy’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $0.1737 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.58%. The ex-dividend date is Friday, September 13th. Macy’s’s dividend payout ratio (DPR) is presently 2,300.00%.

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.