Macy’s Inc (M) Stake Raised by ING Groep NV

Macy’s Inc (M) Stake Raised by ING Groep NV

ING Groep NV increased its stake in Macy's Inc (NYSE:M) by 35.1% during the first quarter, Holdings Channel reports. The institutional investor owned 23,497 shares of the company’s stock after buying an additional 6,103 shares during the period. ING Groep NV’s holdings in Macy's were worth $696,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Macy's during the fourth quarter valued at approximately $136,099,000. Skandinaviska Enskilda Banken AB publ increased its stake in Macy's by 3,862.8% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 2,136,002 shares of the company’s stock valued at $79,139,000 after buying an additional 2,082,100 shares during the period. Renaissance Technologies LLC acquired a new stake in Macy's during the fourth quarter valued at approximately $73,878,000. The Manufacturers Life Insurance Company acquired a new stake in Macy's during the third quarter valued at approximately $68,643,000. Finally, Toronto Dominion Bank increased its stake in Macy's by 76,629.7% in the third quarter. Toronto Dominion Bank now owns 1,309,009 shares of the company’s stock valued at $48,499,000 after buying an additional 1,307,303 shares during the period. Institutional investors and hedge funds own 86.28% of the company’s stock.

Shares of Macy's Inc (NYSE:M) traded up 0.17% on Friday, hitting $28.97. 4,764,841 shares of the stock traded hands. Macy's Inc has a one year low of $27.72 and a one year high of $45.41. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 14.56 and a beta of 0.79. The company’s 50 day moving average is $29.13 and its 200 day moving average is $33.78.

Macy's (NYSE:M) last announced its quarterly earnings data on Tuesday, February 21st. The company reported $2.02 EPS for the quarter, topping the Zacks’ consensus estimate of $1.96 by $0.06. Macy's had a return on equity of 24.83% and a net margin of 2.63%. The firm earned $8.52 billion during the quarter, compared to analyst estimates of $8.61 billion. During the same period last year, the company posted $2.09 EPS. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, equities analysts forecast that Macy's Inc will post $3.46 EPS for the current year.

Several equities analysts have issued reports on M shares. Buckingham Research cut shares of Macy's from a “buy” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a research note on Tuesday, January 31st. Vetr raised shares of Macy's from a “hold” rating to a “buy” rating and set a $32.69 price objective on the stock in a research note on Monday, March 6th. OTR Global cut shares of Macy's to a “sell” rating in a research note on Friday, February 3rd. Zacks Investment Research cut shares of Macy's from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. Finally, Wunderlich reissued a “buy” rating and issued a $24.00 price objective on shares of Macy's in a research note on Friday. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have assigned a buy rating to the stock. Macy's currently has an average rating of “Hold” and an average price target of $37.59.

In other news, EVP Felicia Williams sold 1,697 shares of Macy's stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $28.55, for a total transaction of $48,449.35. Following the completion of the sale, the executive vice president now directly owns 1,697 shares in the company, valued at approximately $48,449.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Molly Langenstein sold 1,251 shares of Macy's stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $28.55, for a total value of $35,716.05. Following the sale, the insider now owns 6,414 shares of the company’s stock, valued at $183,119.70. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Macy's Company Profile

Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.

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