Metis Global Partners LLC Sells 1,667 Shares of Macy’s, Inc. (NYSE:M)

Metis Global Partners LLC trimmed its position in Macy’s, Inc. (NYSE:M) by 8.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 17,280 shares of the company’s stock after selling 1,667 shares during the quarter. Metis Global Partners LLC’s holdings in Macy’s were worth $271,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Venturi Wealth Management LLC boosted its position in Macy’s by 282.7% during the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after purchasing an additional 1,685 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Macy’s in the 3rd quarter valued at about $39,000. EntryPoint Capital LLC bought a new stake in shares of Macy’s in the 1st quarter valued at about $51,000. Abich Financial Wealth Management LLC bought a new position in shares of Macy’s during the 2nd quarter worth approximately $57,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Macy’s during the 2nd quarter worth approximately $62,000. Institutional investors own 87.36% of the company’s stock.

Macy’s Price Performance

Shares of NYSE:M opened at $15.26 on Tuesday. Macy’s, Inc. has a twelve month low of $14.06 and a twelve month high of $22.10. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. The company has a market cap of $4.23 billion, a PE ratio of 23.84 and a beta of 2.11. The company’s 50 day moving average is $15.40 and its 200 day moving average is $16.93.

Macy’s (NYSE:M) last issued its earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.23. The firm had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The firm’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 earnings per share. On average, sell-side analysts forecast that Macy’s, Inc. will post 2.72 EPS for the current year.

Macy’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend is Friday, December 13th. Macy’s’s dividend payout ratio is currently 107.81%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on M. StockNews.com initiated coverage on shares of Macy’s in a report on Sunday, November 10th. They issued a “hold” rating on the stock. Argus raised Macy’s to a “hold” rating in a research report on Thursday, October 10th. Telsey Advisory Group reiterated a “market perform” rating and issued a $21.00 price target on shares of Macy’s in a research note on Wednesday, August 21st. Finally, Morgan Stanley cut their price objective on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.43.

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.