M&T Bank Corp Has $267,000 Stock Position in Macy’s, Inc. (NYSE:M)

M&T Bank Corp trimmed its position in Macy’s, Inc. (NYSE:M) by 30.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,797 shares of the company’s stock after selling 6,808 shares during the quarter. M&T Bank Corp’s holdings in Macy’s were worth $267,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in Macy’s by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock worth $41,765,000 after purchasing an additional 118,626 shares during the period. FMR LLC boosted its holdings in Macy’s by 4.4% during the third quarter. FMR LLC now owns 4,691,591 shares of the company’s stock worth $73,611,000 after buying an additional 195,880 shares during the last quarter. Virtu Financial LLC bought a new position in Macy’s during the third quarter worth about $594,000. HB Wealth Management LLC boosted its holdings in Macy’s by 724.1% during the fourth quarter. HB Wealth Management LLC now owns 103,584 shares of the company’s stock worth $1,754,000 after buying an additional 91,015 shares during the last quarter. Finally, Alerus Financial NA bought a new position in Macy’s during the third quarter worth about $2,144,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on M. Guggenheim restated a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Benchmark upgraded Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. Telsey Advisory Group set a $15.00 price objective on Macy’s in a report on Friday, March 7th. JPMorgan Chase & Co. cut Macy’s from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $19.00 to $14.00 in a report on Thursday, March 6th. Finally, UBS Group cut their price objective on Macy’s from $9.00 to $8.00 and set a “sell” rating on the stock in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.56.

Macy’s Stock Down 4.1 %

NYSE:M opened at $13.09 on Friday. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 22.18 and a beta of 2.07. Macy’s, Inc. has a twelve month low of $12.60 and a twelve month high of $22.10. The stock’s 50 day moving average price is $14.72 and its two-hundred day moving average price is $15.39. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.25. The firm had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.76 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. Equities research analysts expect that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.1824 per share. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, March 14th. This represents a $0.73 annualized dividend and a dividend yield of 5.58%. Macy’s’s payout ratio is 35.44%.

Macy’s Profile

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.