Macy’s, Inc. (NYSE:M) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. trimmed its stake in shares of Macy’s, Inc. (NYSE:M) by 14.9% during the 4th quarter, Holdings Channel reports. The fund owned 204,533 shares of the company’s stock after selling 35,730 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Macy’s were worth $3,463,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quest Partners LLC acquired a new stake in shares of Macy’s during the 3rd quarter worth approximately $35,000. Venturi Wealth Management LLC boosted its holdings in Macy’s by 282.7% during the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after buying an additional 1,685 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Macy’s during the third quarter valued at $39,000. Abich Financial Wealth Management LLC purchased a new position in Macy’s in the second quarter valued at $57,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Macy’s in the second quarter worth about $62,000. 87.36% of the stock is owned by institutional investors and hedge funds.

Macy’s Stock Performance

NYSE: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. Macy’s, Inc. has a twelve month low of $13.66 and a twelve month high of $22.10. The company’s 50-day moving average price is $15.98 and its 200-day moving average price is $15.93. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last posted 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 during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter last year, the company earned $0.21 earnings per share. Macy’s’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, sell-side analysts forecast that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on M shares. JPMorgan Chase & Co. cut their price target on Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. UBS Group dropped their price objective on Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. StockNews.com raised Macy’s from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Gordon Haskett raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Monday, December 16th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $17.00 price target on shares of Macy’s in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $17.78.

Macy’s 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.