Bank of New York Mellon Corp Has $40.30 Million Stock Holdings in Macy's, Inc. (NYSE:M)

Bank of New York Mellon Corp lowered its position in shares of Macy's, Inc. (NYSE:M - Free Report) by 3.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,208,830 shares of the company's stock after selling 105,742 shares during the period. Bank of New York Mellon Corp owned approximately 1.15% of Macy's worth $40,303,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in Macy's by 7.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,751,211 shares of the company's stock valued at $266,666,000 after purchasing an additional 1,149,454 shares during the last quarter. Cooper Creek Partners Management LLC boosted its position in shares of Macy's by 26.2% during the fourth quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company's stock worth $132,701,000 after buying an additional 1,627,572 shares during the period. FMR LLC grew its holdings in Macy's by 59.9% in the 4th quarter. FMR LLC now owns 7,503,742 shares of the company's stock worth $127,038,000 after buying an additional 2,812,151 shares in the last quarter. American Century Companies Inc. increased its position in Macy's by 12.2% in the 4th quarter. American Century Companies Inc. now owns 7,137,132 shares of the company's stock valued at $120,832,000 after acquiring an additional 774,693 shares during the period. Finally, Norges Bank acquired a new stake in Macy's in the 4th quarter valued at approximately $96,689,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

M has been the subject of several recent analyst reports. Morgan Stanley reissued a "negative" rating on shares of Macy's in a research note on Tuesday, May 6th. The Goldman Sachs Group cut shares of Macy's from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $17.00 to $12.00 in a report on Tuesday, April 22nd. Barclays initiated coverage on shares of Macy's in a research note on Monday, April 28th. They set a "cautious" rating and a $12.00 price objective on the stock. JPMorgan Chase & Co. cut their target price on Macy's from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, May 29th. Finally, Citigroup reiterated a "neutral" rating and set a $12.00 price target (up from $11.00) on shares of Macy's in a research report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Macy's presently has an average rating of "Hold" and a consensus price target of $12.78.

Macy's Trading Down 0.4%

Shares of NYSE M traded down $0.05 during mid-day trading on Thursday, hitting $12.01. 5,362,711 shares of the company traded hands, compared to its average volume of 6,630,378. The company has a quick ratio of 0.37, a current ratio of 1.43 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 6.09 and a beta of 1.71. Macy's, Inc. has a 1 year low of $9.76 and a 1 year high of $18.13. The business has a 50 day moving average of $11.88 and a two-hundred day moving average of $13.04.

Macy's (NYSE:M - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. Macy's had a net margin of 2.45% and a return on equity of 16.34%. The business had revenue of $4.60 billion during the quarter, compared to analysts' expectations of $4.38 billion. During the same period last year, the company posted $0.27 earnings per share. The firm's quarterly revenue was down 5.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Macy's, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy's Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued a dividend of $0.1824 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.73 annualized dividend and a yield of 6.08%. Macy's's dividend payout ratio (DPR) is presently 37.06%.

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.