Douglas Lane & Associates LLC Sells 47,271 Shares of Macy's, Inc. (NYSE:M)

Douglas Lane & Associates LLC cut its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,702,522 shares of the company's stock after selling 47,271 shares during the period. Douglas Lane & Associates LLC owned approximately 0.61% of Macy's worth $21,384,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. KBC Group NV grew its holdings in Macy's by 47.4% during the fourth quarter. KBC Group NV now owns 11,718 shares of the company's stock valued at $198,000 after purchasing an additional 3,766 shares during the period. Pacer Advisors Inc. boosted its stake in Macy's by 2.4% in the 4th quarter. Pacer Advisors Inc. now owns 41,345 shares of the company's stock worth $700,000 after purchasing an additional 960 shares during the period. Foster & Motley Inc. purchased a new position in Macy's during the 4th quarter valued at about $277,000. State of Alaska Department of Revenue increased its position in shares of Macy's by 155.8% during the fourth quarter. State of Alaska Department of Revenue now owns 81,626 shares of the company's stock valued at $1,381,000 after buying an additional 49,715 shares during the period. Finally, Entropy Technologies LP purchased a new stake in shares of Macy's in the fourth quarter worth about $1,922,000. Hedge funds and other institutional investors own 87.36% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on M. Gordon Haskett cut shares of Macy's from an "accumulate" rating to a "hold" rating in a research note on Thursday, March 6th. UBS Group dropped their price objective on Macy's from $9.00 to $8.00 and set a "sell" rating for the company in a research note on Friday, March 7th. Citigroup restated a "neutral" rating and issued a $12.00 target price (up from $11.00) on shares of Macy's in a research note on Thursday, May 29th. Barclays began coverage on Macy's in a report on Monday, April 28th. They issued a "cautious" rating and a $12.00 price target on the stock. Finally, Morgan Stanley restated a "negative" rating on shares of Macy's in a research report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $13.20.

Insiders Place Their Bets

In other news, EVP Adrian V. Mitchell sold 3,489 shares of the firm's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total value of $47,938.86. Following the completion of the sale, the executive vice president now directly owns 116,165 shares of the company's stock, valued at approximately $1,596,107.10. This trade represents a 2.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Antony Spring sold 3,124 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total value of $42,923.76. Following the transaction, the chief executive officer now owns 272,680 shares in the company, valued at $3,746,623.20. This trade represents a 1.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,751 shares of company stock valued at $537,790 in the last ninety days. Company insiders own 1.09% of the company's stock.

Macy's Price Performance

M traded up $0.49 during midday trading on Thursday, hitting $11.94. The stock had a trading volume of 4,172,745 shares, compared to its average volume of 7,167,280. Macy's, Inc. has a 1 year low of $9.76 and a 1 year high of $20.47. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The business has a fifty day moving average of $11.59 and a 200 day moving average of $13.96. The company has a market cap of $3.33 billion, a P/E ratio of 20.24 and a beta of 1.77.

Macy's (NYSE:M - Get Free Report) last released its earnings results on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.38 billion. Macy's had a net margin of 0.73% and a return on equity of 21.99%. The firm's quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 EPS. As a group, equities analysts forecast that Macy's, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy's Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.1824 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.73 annualized dividend and a yield of 6.11%. Macy's's payout ratio is 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.