First Business Financial Services Inc. Acquires New Stake in Macy’s Inc (M)

First Business Financial Services Inc. Acquires New Stake in Macy’s Inc (M)

First Business Financial Services Inc. acquired a new stake in Macy’s Inc (NYSE:M) during the third quarter, Holdings Channel reports. The firm acquired 12,390 shares of the company’s stock, valued at approximately $459,000.

Several other large investors have also added to or reduced their stakes in M. Beese Fulmer Investment Management Inc. raised its stake in Macy’s by 0.7% in the second quarter. Beese Fulmer Investment Management Inc. now owns 5,998 shares of the company’s stock worth $202,000 after buying an additional 40 shares during the last quarter. Conning Inc. raised its stake in Macy’s by 0.9% in the third quarter. Conning Inc. now owns 8,086 shares of the company’s stock worth $300,000 after buying an additional 70 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in Macy’s by 0.3% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 26,896 shares of the company’s stock worth $903,000 after buying an additional 72 shares during the last quarter. First Manhattan Co. raised its stake in Macy’s by 2.2% in the third quarter. First Manhattan Co. now owns 5,076 shares of the company’s stock worth $188,000 after buying an additional 110 shares during the last quarter. Finally, Heritage Investors Management Corp raised its stake in Macy’s by 0.9% in the third quarter. Heritage Investors Management Corp now owns 20,753 shares of the company’s stock worth $769,000 after buying an additional 175 shares during the last quarter. 86.20% of the stock is owned by institutional investors.

Macy’s Inc (NYSE:M) traded down 1.989% on Friday, hitting $29.325. 1,658,290 shares of the stock traded hands. The company’s 50 day moving average price is $34.42 and its 200-day moving average price is $36.86. Macy’s Inc has a 12-month low of $28.55 and a 12-month high of $45.50. The stock has a market capitalization of $8.96 billion, a P/E ratio of 13.348 and a beta of 0.82.

Macy’s (NYSE:M) last issued its quarterly earnings results on Thursday, November 10th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by $0.24. The company had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.65 billion. Macy’s had a return on equity of 24.83% and a net margin of 2.63%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the company earned $0.56 EPS. Analysts predict that Macy’s Inc will post $3.05 EPS for the current year.

Several brokerages have weighed in on M. Zacks Investment Research lowered shares of Macy’s from a “hold” rating to a “sell” rating in a report on Wednesday, January 18th. Guggenheim reissued a “buy” rating on shares of Macy’s in a report on Saturday, January 7th. RBC Capital Markets restated a “market perform” rating on shares of Macy’s in a research report on Saturday, January 7th. Jefferies Group LLC set a $35.00 price target on shares of Macy’s and gave the stock a “hold” rating in a research report on Thursday, January 5th. Finally, Goldman Sachs Group, Inc. (The) set a $39.00 price target on shares of Macy’s and gave the stock a “hold” rating in a research report on Thursday, January 5th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $40.88.

In related news, Director Craig Weatherup sold 20,000 shares of the company’s stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the transaction, the director now owns 16,000 shares in the company, valued at approximately $672,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.70% of the stock is owned by corporate insiders.

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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