Public Employees Retirement Association of Colorado Reduces Position in Macy’s Inc (NYSE:M)
Public Employees Retirement Association of Colorado cut its position in shares of Macy’s Inc (NYSE:M) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,392 shares of the company’s stock after selling 179 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Macy’s were worth $1,380,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the stock. TB Alternative Assets Ltd. acquired a new stake in Macy’s during the first quarter worth $5,421,000. Washington Trust Bank increased its stake in Macy’s by 363.8% in the first quarter. Washington Trust Bank now owns 13,669 shares of the company’s stock worth $405,000 after buying an additional 10,722 shares during the period. Cadence Capital Management LLC increased its stake in Macy’s by 43.4% in the first quarter. Cadence Capital Management LLC now owns 56,820 shares of the company’s stock worth $1,684,000 after buying an additional 17,186 shares during the period. Banco Santander S.A. increased its stake in Macy’s by 71.4% in the first quarter. Banco Santander S.A. now owns 60,000 shares of the company’s stock worth $1,556,000 after buying an additional 25,000 shares during the period. Finally, OppenheimerFunds Inc. increased its stake in Macy’s by 114.2% in the first quarter. OppenheimerFunds Inc. now owns 2,068,938 shares of the company’s stock worth $61,324,000 after buying an additional 1,102,887 shares during the period. Institutional investors own 84.30% of the company’s stock.
Shares of Macy’s Inc (M) opened at 20.62 on Friday. Macy’s Inc has a 52-week low of $20.16 and a 52-week high of $45.41. The firm has a 50-day moving average of $22.86 and a 200 day moving average of $26.87. The stock has a market capitalization of $6.28 billion, a PE ratio of 9.37 and a beta of 0.84.
Macy’s (NYSE:M) last announced its quarterly earnings results on Thursday, August 10th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. Macy’s had a net margin of 2.71% and a return on equity of 21.69%. The business had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same period last year, the business earned $0.51 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts forecast that Macy’s Inc will post $3.33 EPS for the current fiscal year.
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M has been the topic of a number of research reports. Vetr upgraded shares of Macy’s from a “buy” rating to a “strong-buy” rating and set a $30.62 target price on the stock in a report on Thursday, May 11th. Wunderlich restated a “buy” rating and issued a $24.00 target price on shares of Macy’s in a report on Friday, May 5th. Zacks Investment Research upgraded shares of Macy’s from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. Telsey Advisory Group reduced their target price on shares of Macy’s from $36.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, May 12th. Finally, BidaskClub upgraded shares of Macy’s from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $30.41.
In other Macy’s news, insider Jeffrey Gennette acquired 13,085 shares of the stock in a transaction dated Monday, June 12th. The stock was acquired at an average price of $22.95 per share, with a total value of $300,300.75. Following the completion of the purchase, the insider now owns 89,053 shares in the company, valued at approximately $2,043,766.35. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William H. Lenehan acquired 4,390 shares of the stock in a transaction dated Thursday, June 15th. The stock was acquired at an average cost of $22.72 per share, with a total value of $99,740.80. Following the purchase, the director now owns 5,968 shares of the company’s stock, valued at approximately $135,592.96. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.
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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