Xact Kapitalforvaltning AB raised its position in Macy’s Inc (NYSE:M) by 10.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 48,567 shares of the company’s stock after buying an additional 4,753 shares during the period. Xact Kapitalforvaltning AB’s holdings in Macy’s were worth $1,129,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the company. Thrivent Financial for Lutherans increased its stake in Macy’s by 5.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,628 shares of the company’s stock valued at $381,000 after buying an additional 520 shares in the last quarter. Dodge & Cox bought a new stake in Macy’s during the fourth quarter valued at about $358,000. Quadrature Capital Ltd increased its stake in Macy’s by 2,381.9% in the fourth quarter. Quadrature Capital Ltd now owns 143,999 shares of the company’s stock valued at $5,158,000 after buying an additional 138,197 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in Macy’s by 2.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 989,291 shares of the company’s stock valued at $35,426,000 after buying an additional 24,127 shares during the last quarter. Finally, Kentucky Retirement Systems purchased a new position in Macy’s during the fourth quarter valued at $794,000. Hedge funds and other institutional investors own 84.30% of the company’s stock.
Macy’s Inc (NYSE:M) traded down 0.24% during mid-day trading on Friday, hitting $20.62. 12,503,939 shares of the stock were exchanged. Macy’s Inc has a 52-week low of $20.16 and a 52-week high of $45.41. The company has a 50 day moving average price of $22.86 and a 200 day moving average price of $26.87. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 9.37 and a beta of 0.84. Macy’s also was the target of some unusual options trading activity on Wednesday. Investors bought 33,975 call options on the company. This is an increase of 489% compared to the typical daily volume of 5,766 call options.
Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, August 10th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.03. The company had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.52 billion. Macy’s had a net margin of 2.71% and a return on equity of 21.69%. Macy’s’s revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 EPS. On average, analysts anticipate that Macy’s Inc will post $3.33 EPS for the current year.
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M has been the topic of several research analyst reports. Vetr cut shares of Macy’s from a “buy” rating to a “hold” rating and set a $30.62 price target on the stock. in a report on Thursday, April 20th. Zacks Investment Research cut Macy’s from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. Wunderlich restated a “buy” rating and set a $24.00 price target on shares of Macy’s in a research report on Friday, May 5th. Gordon Haskett initiated coverage on shares of Macy’s in a research report on Tuesday, May 9th. They set a “hold” rating and a $29.00 price target for the company. Finally, Jefferies Group LLC restated a “hold” rating and issued a $27.00 price objective on shares of Macy’s in a report on Thursday, May 11th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Macy’s currently has a consensus rating of “Hold” and an average target price of $30.84.
In other Macy’s news, insider Jeffrey Gennette acquired 13,085 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were acquired at an average cost of $22.95 per share, for a total transaction of $300,300.75. Following the transaction, the insider now directly owns 89,053 shares of the company’s stock, valued at $2,043,766.35. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William H. Lenehan bought 4,390 shares of Macy’s stock in a transaction on Thursday, June 15th. The stock was purchased at an average price of $22.72 per share, for a total transaction of $99,740.80. Following the completion of the acquisition, the director now owns 5,968 shares in the company, valued at approximately $135,592.96. The disclosure for this purchase can be found here. Insiders own 1.40% 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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