Janney Montgomery Scott LLC Cuts Position in Macy’s, Inc. (NYSE:M)

Janney Montgomery Scott LLC cut its stake in Macy’s, Inc. (NYSE:MGet Rating) by 6.4% during the third quarter, HoldingsChannel reports. The fund owned 26,382 shares of the company’s stock after selling 1,807 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Macy’s were worth $413,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in M. Monetary Management Group Inc. purchased a new position in shares of Macy’s in the 2nd quarter valued at $37,000. Estabrook Capital Management grew its stake in Macy’s by 77.8% during the 1st quarter. Estabrook Capital Management now owns 1,600 shares of the company’s stock worth $39,000 after buying an additional 700 shares during the last quarter. Lazard Asset Management LLC grew its stake in Macy’s by 52.3% during the 1st quarter. Lazard Asset Management LLC now owns 1,995 shares of the company’s stock worth $48,000 after buying an additional 685 shares during the last quarter. CoreCap Advisors LLC purchased a new position in Macy’s during the 2nd quarter worth $107,000. Finally, Infini Capital Management Ltd purchased a new position in Macy’s during the 2nd quarter worth $115,000. 80.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their target price on Macy’s from $23.00 to $22.00 in a research note on Tuesday, January 10th. OTR Global upgraded Macy’s from a “mixed” rating to a “positive” rating in a research note on Wednesday, November 9th. Citigroup boosted their target price on Macy’s from $21.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, November 18th. StockNews.com cut Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, December 30th. Finally, JPMorgan Chase & Co. lowered their price target on Macy’s from $28.00 to $26.00 and set a “neutral” rating for the company in a research report on Monday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.64.

Macy’s Stock Performance

Shares of M stock opened at $23.40 on Tuesday. The stock has a market cap of $6.34 billion, a PE ratio of 4.88, a price-to-earnings-growth ratio of 0.45 and a beta of 1.72. The business has a 50-day simple moving average of $21.91 and a 200-day simple moving average of $19.47. The company has a quick ratio of 0.14, a current ratio of 1.09 and a debt-to-equity ratio of 0.86. Macy’s, Inc. has a 52-week low of $15.10 and a 52-week high of $28.21.

Macy’s (NYSE:MGet Rating) last issued its quarterly earnings data on Thursday, November 17th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.33. The business had revenue of $5.23 billion during the quarter, compared to analysts’ expectations of $5.20 billion. Macy’s had a return on equity of 42.58% and a net margin of 5.68%. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.23 EPS. On average, equities analysts expect that Macy’s, Inc. will post 4.18 EPS for the current year.

Macy’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th were issued a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $0.63 annualized dividend and a dividend yield of 2.69%. Macy’s’s dividend payout ratio (DPR) is presently 13.13%.

Macy’s Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Macy's (NYSE:M)

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