Nomura Asset Management Co. Ltd. lessened its position in Macy’s Inc (NYSE:M) by 4.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 68,554 shares of the company’s stock after selling 2,824 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Macy’s were worth $2,566,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. BlackRock Inc. lifted its position in shares of Macy’s by 10.6% in the 1st quarter. BlackRock Inc. now owns 27,873,644 shares of the company’s stock valued at $828,961,000 after acquiring an additional 2,667,028 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Macy’s by 13.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,864,888 shares of the company’s stock worth $263,642,000 after buying an additional 1,064,651 shares in the last quarter. Contrarius Investment Management Ltd lifted its position in Macy’s by 2.5% in the 1st quarter. Contrarius Investment Management Ltd now owns 6,307,867 shares of the company’s stock worth $187,596,000 after buying an additional 154,835 shares in the last quarter. Prudential Financial Inc. lifted its position in Macy’s by 235.8% in the 1st quarter. Prudential Financial Inc. now owns 5,000,234 shares of the company’s stock worth $148,706,000 after buying an additional 3,511,323 shares in the last quarter. Finally, LSV Asset Management lifted its position in Macy’s by 9.9% in the 1st quarter. LSV Asset Management now owns 4,304,591 shares of the company’s stock worth $128,018,000 after buying an additional 387,737 shares in the last quarter. Institutional investors and hedge funds own 88.65% of the company’s stock.

A number of research firms have issued reports on M. Susquehanna Bancshares reiterated a “positive” rating on shares of Macy’s in a research report on Thursday, June 7th. Cowen reiterated a “hold” rating on shares of Macy’s in a research report on Thursday, June 7th. Standpoint Research downgraded shares of Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. Atlantic Securities downgraded shares of Macy’s from an “overweight” rating to a “neutral” rating and set a $39.00 target price for the company. in a research report on Wednesday, June 6th. They noted that the move was a valuation call. Finally, UBS Group began coverage on shares of Macy’s in a research report on Thursday, June 21st. They issued a “neutral” rating and a $39.00 target price for the company. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $33.61.

Macy’s stock opened at $36.03 on Friday. The firm has a market cap of $12.25 billion, a PE ratio of 9.56, a price-to-earnings-growth ratio of 1.22 and a beta of 0.79. The company has a current ratio of 1.52, a quick ratio of 0.48 and a debt-to-equity ratio of 1.01. Macy’s Inc has a 1-year low of $17.41 and a 1-year high of $41.99.

Macy’s (NYSE:M) last released its quarterly earnings results on Wednesday, August 15th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.20. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.55 billion. Macy’s had a net margin of 6.45% and a return on equity of 24.56%. Macy’s’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 EPS. research analysts expect that Macy’s Inc will post 3.87 EPS for the current year.

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.

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

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