United Services Automobile Association Has $483,000 Stock Holdings in Macy’s, Inc. (NYSE:M)

United Services Automobile Association lessened its holdings in shares of Macy’s, Inc. (NYSE:M – Get Rating) by 3.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 30,815 shares of the company’s stock after selling 1,199 shares during the period. United Services Automobile Association’s holdings in Macy’s were worth $483,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of M. Quadrant Capital Group LLC raised its position in shares of Macy’s by 57.7% during the third quarter. Quadrant Capital Group LLC now owns 1,815 shares of the company’s stock worth $28,000 after purchasing an additional 664 shares during the period. Monetary Management Group Inc. acquired a new stake in shares of Macy’s during the second quarter worth about $37,000. Estabrook Capital Management raised its position in shares of Macy’s by 77.8% during the first quarter. Estabrook Capital Management now owns 1,600 shares of the company’s stock worth $39,000 after purchasing an additional 700 shares during the period. Ellevest Inc. raised its position in shares of Macy’s by 44.9% during the third quarter. Ellevest Inc. now owns 2,604 shares of the company’s stock worth $41,000 after purchasing an additional 807 shares during the period. Finally, Lazard Asset Management LLC raised its position in shares of Macy’s by 52.3% during the first quarter. Lazard Asset Management LLC now owns 1,995 shares of the company’s stock worth $48,000 after purchasing an additional 685 shares during the period. Institutional investors and hedge funds own 80.19% of the company’s stock.

Macy’s Stock Up 1.3 %

Macy’s stock opened at $18.72 on Wednesday. The firm has a 50 day moving average price of $22.13 and a two-hundred day moving average price of $20.42. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of 4.47, a PEG ratio of 0.43 and a beta of 1.83. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.33 and a current ratio of 1.20. Macy’s, Inc. has a 52-week low of $15.10 and a 52-week high of $28.06.

Macy’s (NYSE:M – Get Rating) last announced its quarterly earnings results on Thursday, March 2nd. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.31. The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.27 billion. Macy’s had a net margin of 4.82% and a return on equity of 35.06%. Macy’s’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.45 EPS. Equities analysts predict that Macy’s, Inc. will post 3.82 EPS for the current year.

Macy’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Wednesday, March 15th will be paid a $0.1654 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 3.53%. This is a boost from Macy’s’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, March 14th. Macy’s’s payout ratio is presently 15.04%.

Analysts Set New Price Targets

A number of research firms have recently commented on M. StockNews.com lowered Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, December 30th. Morgan Stanley increased their price objective on Macy’s from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Friday, March 3rd. Citigroup increased their price objective on Macy’s from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, February 23rd. Telsey Advisory Group reiterated a “market perform” rating and set a $25.00 price objective on shares of Macy’s in a report on Friday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Macy’s from $23.00 to $22.00 in a report on Tuesday, January 10th. Two research 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.27.

Macy’s Company Profile

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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.