Mutual of America Capital Management LLC Sells 2,867 Shares of Macy’s, Inc. (NYSE:M)

Mutual of America Capital Management LLC trimmed its stake in shares of Macy’s, Inc. (NYSE:M) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 146,520 shares of the company’s stock after selling 2,867 shares during the period. Mutual of America Capital Management LLC owned approximately 0.05% of Macy’s worth $2,481,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted 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 last quarter. FMR LLC lifted its stake in shares of Macy’s by 4.4% in the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company’s stock worth $73,611,000 after purchasing an additional 195,880 shares during the period. Virtu Financial LLC purchased a new position in shares of Macy’s in the third quarter worth approximately $594,000. HB Wealth Management LLC increased 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 valued at $1,754,000 after buying an additional 91,015 shares during the last quarter. Finally, Alerus Financial NA purchased a new stake in Macy’s during the third quarter valued at approximately $2,144,000. Institutional investors own 87.36% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on M. StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Morgan Stanley cut their price target on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, December 12th. The Goldman Sachs Group reduced their price target on Macy’s from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Friday. Citigroup lowered their price objective on Macy’s from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Gordon Haskett lowered shares of Macy’s from an “accumulate” rating to a “hold” rating in a report on Thursday. One analyst has rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $16.00.

Macy’s Trading Up 6.6 %

M stock opened at $14.10 on Friday. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 23.89 and a beta of 2.05. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. Macy’s, Inc. has a 1-year low of $12.60 and a 1-year high of $22.10. The business has a 50 day simple moving average of $15.10 and a two-hundred day simple moving average of $15.50.

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

Macy’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.1824 dividend. This is an increase from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date is Friday, March 14th. Macy’s’s payout ratio is currently 116.95%.

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.