First Trust Advisors LP increased its position in Macy’s Inc (NYSE:M) by 56.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,140,866 shares of the company’s stock after buying an additional 412,935 shares during the period. First Trust Advisors LP owned 0.37% of Macy’s worth $42,269,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of M. SkyBridge Capital II LLC boosted its position in shares of Macy’s by 10.5% in the third quarter. SkyBridge Capital II LLC now owns 351,611 shares of the company’s stock worth $13,027,000 after buying an additional 33,553 shares in the last quarter. Bourgeon Capital Management LLC bought a new position in shares of Macy’s during the second quarter worth $252,000. BB&T Corp boosted its position in shares of Macy’s by 84.4% in the second quarter. BB&T Corp now owns 375,841 shares of the company’s stock worth $12,632,000 after buying an additional 172,049 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Macy’s by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 13,078,674 shares of the company’s stock valued at $439,572,000 after buying an additional 232,280 shares during the period. Finally, General American Investors Co. Inc. boosted its position in Macy’s by 11.9% in the second quarter. General American Investors Co. Inc. now owns 375,026 shares of the company’s stock valued at $12,605,000 after buying an additional 40,000 shares during the period. 86.20% of the stock is currently owned by hedge funds and other institutional investors.
Macy’s Inc (NYSE:M) opened at 29.11 on Friday. The firm has a market capitalization of $8.90 billion, a price-to-earnings ratio of 13.25 and a beta of 0.82. Macy’s Inc has a one year low of $28.55 and a one year high of $45.50. The stock’s 50 day moving average price is $34.00 and its 200-day moving average price is $36.81.
Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, November 10th. The company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by $0.24. The business 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 company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 EPS. On average, equities research analysts expect that Macy’s Inc will post $3.05 EPS for the current fiscal year.
M has been the topic of several research analyst reports. Vetr raised Macy’s from a “buy” rating to a “strong-buy” rating and set a $45.83 target price on the stock in a research note on Monday, December 12th. Goldman Sachs Group, Inc. (The) set a $39.00 target price on Macy’s and gave the company a “hold” rating in a research note on Thursday, January 5th. Deutsche Bank AG raised Macy’s from a “hold” rating to a “buy” rating and lifted their target price for the company from $40.00 to $45.00 in a research note on Monday, October 31st. Zacks Investment Research cut Macy’s from a “buy” rating to a “hold” rating in a research note on Monday, October 24th. Finally, Telsey Advisory Group lowered their target price on Macy’s from $42.00 to $38.00 and set a “market perform” rating on the stock in a research note on Thursday, January 5th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have given a buy rating to the stock. Macy’s currently has an average rating of “Hold” and a consensus target price of $40.88.
In other news, Director Craig Weatherup sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, November 30th. The stock was sold at an average price of $42.00, for a total transaction of $840,000.00. Following the sale, the director now owns 16,000 shares of the company’s stock, valued at $672,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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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