MetLife Investment Management LLC Sells 12,023 Shares of Macy’s, Inc. (NYSE:M)

Posted by Defense World Staff on Feb 26th, 2023

Macy's logo MetLife Investment Management LLC cut its holdings in Macy’s, Inc. (NYSE:M – Get Rating) by 6.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 174,031 shares of the company’s stock after selling 12,023 shares during the period. MetLife Investment Management LLC owned 0.06% of Macy’s worth $2,727,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Hsbc Holdings PLC raised its position in Macy’s by 142.9% in the third quarter. Hsbc Holdings PLC now owns 320,429 shares of the company’s stock worth $5,092,000 after acquiring an additional 188,509 shares during the period. Prudential PLC raised its position in shares of Macy’s by 24.0% during the 3rd quarter. Prudential PLC now owns 48,395 shares of the company’s stock valued at $758,000 after purchasing an additional 9,370 shares during the period. Skandinaviska Enskilda Banken AB publ raised its position in shares of Macy’s by 14.2% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,053,600 shares of the company’s stock valued at $16,510,000 after purchasing an additional 130,800 shares during the period. CenterBook Partners LP bought a new stake in shares of Macy’s during the 3rd quarter valued at $368,000. Finally, Interval Partners LP bought a new stake in shares of Macy’s during the 3rd quarter valued at $1,097,000. 80.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on M shares. StockNews.com downgraded shares of Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, December 30th. Credit Suisse Group raised their price objective on shares of Macy’s to $19.00 in a research report on Monday, November 21st. JPMorgan Chase & Co. decreased their price objective on shares of Macy’s from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Monday, January 23rd. Telsey Advisory Group reiterated a “market perform” rating and issued a $25.00 price target on shares of Macy’s in a report on Friday. Finally, OTR Global upgraded shares of Macy’s from a “mixed” rating to a “positive” rating in a report on Wednesday, November 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $23.82.

Macy’s Stock Performance

Shares of NYSE:M opened at $20.57 on Friday. Macy’s, Inc. has a 52 week low of $15.10 and a 52 week high of $28.06. The stock has a market capitalization of $5.58 billion, a P/E ratio of 4.29, a PEG ratio of 0.46 and a beta of 1.75. The firm has a fifty day simple moving average of $22.01 and a two-hundred day simple moving average of $20.31. The company has a quick ratio of 0.14, a current ratio of 1.09 and a debt-to-equity ratio of 0.86.

Macy’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Wednesday, March 15th will be paid a $0.1654 dividend. This is a boost from Macy’s’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.22%. Macy’s’s dividend payout ratio (DPR) is presently 13.13%.

Macy’s Profile

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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.