Douglas Lane & Associates LLC Sells 163,254 Shares of Macy's, Inc. (NYSE:M)

Douglas Lane & Associates LLC reduced its position in Macy's, Inc. (NYSE:M - Free Report) by 7.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,041,867 shares of the company's stock after selling 163,254 shares during the period. Douglas Lane & Associates LLC owned 0.75% of Macy's worth $41,082,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FinTrust Capital Advisors LLC bought a new stake in Macy's in the fourth quarter valued at about $26,000. Estabrook Capital Management increased its holdings in Macy's by 77.8% in the first quarter. Estabrook Capital Management now owns 1,600 shares of the company's stock valued at $39,000 after purchasing an additional 700 shares during the last quarter. Quarry LP bought a new stake in Macy's in the first quarter valued at about $33,000. Belpointe Asset Management LLC increased its holdings in shares of Macy's by 267.1% in the first quarter. Belpointe Asset Management LLC now owns 1,964 shares of the company's stock worth $34,000 after acquiring an additional 1,429 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of Macy's by 52.3% in the first quarter. Lazard Asset Management LLC now owns 1,995 shares of the company's stock worth $48,000 after acquiring an additional 685 shares in the last quarter. 82.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on M. Citigroup upgraded Macy's from a "sell" rating to a "neutral" rating and increased their price target for the stock from $14.00 to $18.00 in a report on Friday, February 2nd. Morgan Stanley lowered their price target on Macy's from $21.00 to $20.00 and set an "equal weight" rating for the company in a report on Wednesday, February 28th. Telsey Advisory Group increased their price target on Macy's from $15.00 to $21.00 and gave the stock a "market perform" rating in a report on Wednesday, February 28th. TD Cowen cut Macy's from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $23.00 to $20.00 in a research report on Thursday, February 29th. Finally, StockNews.com initiated coverage on Macy's in a research report on Saturday. They set a "hold" rating for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $17.45.

Macy's Stock Down 3.0 %

Shares of NYSE M traded down $0.61 during trading hours on Monday, hitting $19.64. The company had a trading volume of 6,200,539 shares, compared to its average volume of 8,531,771. The stock has a market capitalization of $5.38 billion, a P/E ratio of 54.08 and a beta of 2.14. The company has a quick ratio of 0.39, a current ratio of 1.37 and a debt-to-equity ratio of 0.72. Macy's, Inc. has a 1-year low of $10.54 and a 1-year high of $22.10. The firm's 50 day moving average is $19.35 and its 200-day moving average is $16.16.

Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.47. Macy's had a return on equity of 23.34% and a net margin of 0.45%. The business had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.07 billion. During the same quarter last year, the firm posted $1.88 EPS. The company's quarterly revenue was down 1.7% on a year-over-year basis. On average, analysts expect that Macy's, Inc. will post 2.57 earnings per share for the current fiscal year.

Macy's Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be issued a dividend of $0.1737 per share. This is an increase from Macy's's previous quarterly dividend of $0.17. The ex-dividend date is Thursday, March 14th. This represents a $0.69 annualized dividend and a yield of 3.54%. Macy's's dividend payout ratio (DPR) is currently 186.49%.

Insider Buying and Selling at Macy's

In other news, CFO Adrian V. Mitchell sold 13,249 shares of Macy's stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $270,544.58. Following the completion of the sale, the chief financial officer now owns 99,098 shares of the company's stock, valued at $2,023,581.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Adrian V. Mitchell sold 13,249 shares of Macy's stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $270,544.58. Following the completion of the sale, the chief financial officer now owns 99,098 shares of the company's stock, valued at $2,023,581.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Danielle L. Kirgan sold 15,070 shares of the firm's stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total value of $307,729.40. Following the completion of the transaction, the executive vice president now owns 306,555 shares in the company, valued at approximately $6,259,853.10. The disclosure for this sale can be found here. Insiders sold 123,259 shares of company stock valued at $2,516,978 in the last quarter. 1.52% of the stock is currently owned by insiders.

About Macy's

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.