Schwab Charles Investment Management Inc. lessened its holdings in Macy’s Inc (NYSE:M) by 7.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,855,550 shares of the company’s stock after selling 238,542 shares during the period. Schwab Charles Investment Management Inc. owned about 0.93% of Macy’s worth $106,884,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in M. LSV Asset Management grew its holdings in shares of Macy’s by 2.0% during the second quarter. LSV Asset Management now owns 4,390,656 shares of the company’s stock worth $164,342,000 after purchasing an additional 86,065 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Macy’s by 4.9% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 28,887 shares of the company’s stock worth $1,081,000 after purchasing an additional 1,337 shares during the last quarter. Gideon Capital Advisors Inc. bought a new stake in shares of Macy’s during the second quarter worth about $500,000. Canada Pension Plan Investment Board grew its holdings in shares of Macy’s by 285.8% during the second quarter. Canada Pension Plan Investment Board now owns 211,995 shares of the company’s stock worth $7,935,000 after purchasing an additional 157,044 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Macy’s by 29.5% during the second quarter. Arizona State Retirement System now owns 257,202 shares of the company’s stock worth $9,627,000 after purchasing an additional 58,664 shares during the last quarter. Hedge funds and other institutional investors own 86.04% of the company’s stock.

Shares of M opened at $38.21 on Tuesday. Macy’s Inc has a 52-week low of $17.41 and a 52-week high of $41.99. The company has a current ratio of 1.53, a quick ratio of 0.43 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $11.04 billion, a price-to-earnings ratio of 8.75, a price-to-earnings-growth ratio of 1.07 and a beta of 0.79.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, August 15th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.20. Macy’s had a return on equity of 23.55% and a net margin of 6.65%. The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same period in the previous year, the firm earned $0.48 earnings per share. The company’s revenue was down 1.1% compared to the same quarter last year. equities analysts predict that Macy’s Inc will post 3.95 earnings per share for the current year.

In other Macy’s news, Director William H. Lenehan purchased 2,092 shares of the company’s stock in a transaction on Friday, August 17th. The shares were purchased at an average cost of $35.78 per share, with a total value of $74,851.76. Following the completion of the purchase, the director now owns 8,060 shares in the company, valued at $288,386.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.36% of the stock is currently owned by insiders.

M has been the topic of a number of recent analyst reports. Atlantic Securities lowered Macy’s from an “overweight” rating to a “neutral” rating and set a $39.00 price objective on the stock. in a research note on Wednesday, June 6th. They noted that the move was a valuation call. Standpoint Research lowered Macy’s from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Evercore ISI lifted their price objective on Macy’s from $17.41 to $36.00 and gave the stock a “buy” rating in a research note on Monday, June 4th. Deutsche Bank lifted their price objective on Macy’s from $33.00 to $35.00 and gave the stock a “hold” rating in a research note on Thursday, August 16th. Finally, Morgan Stanley lifted their price objective on Macy’s from $25.00 to $27.00 and gave the stock an “underweight” rating in a research note on Thursday, August 16th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $33.61.

Macy’s Profile

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.

Featured Story: Using the New Google Finance Tool

Want to see what other hedge funds are holding M? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macy’s Inc (NYSE:M).

Institutional Ownership by Quarter for Macy`s (NYSE:M)

Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter.