Crossmark Global Holdings Inc. Cuts Stake in Macy’s, Inc. (NYSE:M)

Crossmark Global Holdings Inc. cut its holdings in Macy’s, Inc. (NYSE:M) by 14.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,533 shares of the company’s stock after selling 35,730 shares during the period. Crossmark Global Holdings Inc. owned 0.07% of Macy’s worth $3,463,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in M. Affinity Capital Advisors LLC grew its holdings in Macy’s by 11.5% during the 3rd quarter. Affinity Capital Advisors LLC now owns 12,116 shares of the company’s stock valued at $190,000 after buying an additional 1,248 shares in the last quarter. KBC Group NV grew its holdings in shares of Macy’s by 19.9% in the third quarter. KBC Group NV now owns 7,952 shares of the company’s stock valued at $125,000 after purchasing an additional 1,319 shares in the last quarter. Jamison Private Wealth Management Inc. increased its position in Macy’s by 12.7% in the third quarter. Jamison Private Wealth Management Inc. now owns 14,026 shares of the company’s stock worth $220,000 after purchasing an additional 1,580 shares during the last quarter. Venturi Wealth Management LLC raised its stake 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. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Macy’s by 8.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 23,399 shares of the company’s stock valued at $367,000 after purchasing an additional 1,866 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors.

Macy’s Stock Performance

M opened at $14.61 on Thursday. The company has a market cap of $4.05 billion, a P/E ratio of 24.75 and a beta of 2.07. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The firm’s 50-day moving average price is $15.98 and its 200-day moving average price is $15.93. Macy’s, Inc. has a 52-week low of $13.66 and a 52-week high of $22.10.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the previous year, the company posted $0.21 EPS. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were paid a $0.1737 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.76%. The ex-dividend date was Friday, December 13th. Macy’s’s payout ratio is 116.95%.

Wall Street Analyst Weigh In

M has been the topic of a number of research reports. Morgan Stanley reduced their target price on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. JPMorgan Chase & Co. decreased their price objective on Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a report on Tuesday, January 14th. UBS Group decreased their price target on Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. Finally, Argus upgraded Macy’s to a “hold” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Macy’s currently has an average rating of “Hold” and an average target price of $17.78.

Macy’s Company Profile

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.