MetLife Investment Management LLC Reduces Stake in Macy’s, Inc. (NYSE:M)

MetLife Investment Management LLC decreased its stake in shares of Macy’s, Inc. (NYSE:M) by 1.4% during the third quarter, HoldingsChannel.com reports. The firm owned 143,627 shares of the company’s stock after selling 2,052 shares during the period. MetLife Investment Management LLC’s holdings in Macy’s were worth $2,254,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in M. Marshall Wace LLP lifted its holdings in Macy’s by 1,539.5% during the 2nd quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock worth $67,871,000 after purchasing an additional 3,319,337 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Macy’s by 9.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company’s stock worth $297,385,000 after acquiring an additional 1,379,476 shares during the last quarter. American Century Companies Inc. increased its stake in Macy’s by 18.9% in the 2nd quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock worth $90,333,000 after acquiring an additional 747,542 shares during the last quarter. Alden Global Capital LLC increased its stake in Macy’s by 56.1% in the 2nd quarter. Alden Global Capital LLC now owns 606,741 shares of the company’s stock worth $11,649,000 after acquiring an additional 218,146 shares during the last quarter. Finally, FMR LLC increased its stake in 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 acquiring an additional 195,880 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Analysts Set New Price Targets

M has been the topic of a number of research analyst reports. Telsey Advisory Group restated a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a research note on Tuesday, November 26th. Argus upgraded Macy’s to a “hold” rating in a research note on Thursday, October 10th. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. Finally, Morgan Stanley reduced their price objective on 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. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Macy’s presently has an average rating of “Hold” and a consensus target price of $19.86.

Macy’s Trading Up 1.6 %

Shares of M stock opened at $16.75 on Thursday. The stock has a market capitalization of $4.65 billion, a PE ratio of 25.75 and a beta of 2.11. Macy’s, Inc. has a 1-year low of $14.06 and a 1-year high of $22.10. The business has a 50-day moving average of $15.60 and a 200 day moving average of $16.65. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34.

Macy’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a yield of 4.15%. The ex-dividend date is Friday, December 13th. Macy’s’s dividend payout ratio is presently 107.81%.

Macy’s Company 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.