M&T Bank Corp Has $267,000 Position in Macy’s, Inc. (NYSE:M)

M&T Bank Corp cut its holdings in shares of Macy’s, Inc. (NYSE:M) by 30.1% during the fourth quarter, Holdings Channel reports. The fund owned 15,797 shares of the company’s stock after selling 6,808 shares during the quarter. M&T Bank Corp’s holdings in Macy’s were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Trifecta Capital Advisors LLC acquired a new position in shares of Macy’s during the 4th quarter worth approximately $34,000. Jones Financial Companies Lllp grew its holdings in Macy’s by 82.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after buying an additional 969 shares in the last quarter. Quest Partners LLC acquired a new position in Macy’s in the 3rd quarter valued at $35,000. Kestra Investment Management LLC acquired a new position in Macy’s in the 4th quarter valued at $38,000. Finally, Venturi Wealth Management LLC grew its holdings in Macy’s by 282.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after buying an additional 1,685 shares in the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Macy’s Price Performance

Shares of M stock opened at $13.09 on Friday. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. Macy’s, Inc. has a twelve month low of $12.60 and a twelve month high of $22.10. The company has a market cap of $3.63 billion, a P/E ratio of 22.18 and a beta of 2.07. The business has a fifty day simple moving average of $14.72 and a 200 day simple moving average of $15.39.

Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.25. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The business had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.76 billion. On average, sell-side analysts forecast that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.1824 per share. This is an increase from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a dividend yield of 5.58%. The ex-dividend date of this dividend is Friday, March 14th. Macy’s’s dividend payout ratio is currently 35.44%.

Analyst Ratings Changes

M has been the topic of a number of research reports. StockNews.com raised Macy’s from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Benchmark raised Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. lowered Macy’s from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $19.00 to $14.00 in a report on Thursday, March 6th. Citigroup decreased their price objective on Macy’s from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Finally, Cowen reiterated a “hold” rating on shares of Macy’s in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Macy’s presently has an average rating of “Hold” and an average price target of $15.56.

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.