SG Americas Securities LLC Buys 360,572 Shares of Macy’s Inc (M)
SG Americas Securities LLC increased its stake in Macy’s Inc (NYSE:M) by 157.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 589,241 shares of the company’s stock after buying an additional 360,572 shares during the period. SG Americas Securities LLC’s holdings in Macy’s were worth $13,694,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the company. Penserra Capital Management LLC increased its stake in Macy’s by 9.5% in the first quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock valued at $109,000 after buying an additional 320 shares in the last quarter. Financial Architects Inc increased its stake in Macy’s by 254.5% in the second quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock valued at $136,000 after buying an additional 4,200 shares in the last quarter. Ropes Wealth Advisors LLC increased its stake in Macy’s by 63.5% in the first quarter. Ropes Wealth Advisors LLC now owns 4,806 shares of the company’s stock valued at $142,000 after buying an additional 1,866 shares in the last quarter. Edge Wealth Management LLC acquired a new stake in Macy’s during the second quarter valued at about $142,000. Finally, Winslow Evans & Crocker Inc. increased its stake in Macy’s by 241.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 5,530 shares of the company’s stock valued at $164,000 after buying an additional 3,910 shares in the last quarter. 84.21% of the stock is currently owned by hedge funds and other institutional investors.
Macy’s Inc (NYSE:M) opened at 20.29 on Wednesday. The firm’s 50-day moving average price is $22.75 and its 200-day moving average price is $26.69. Macy’s Inc has a 12 month low of $20.16 and a 12 month high of $45.41. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 9.22 and a beta of 0.84.
Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, August 10th. The company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. The firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.52 billion. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the company earned $0.51 EPS. Equities research analysts predict that Macy’s Inc will post $3.33 earnings per share for the current year.
Several research firms have issued reports on M. Vetr downgraded Macy’s from a “buy” rating to a “hold” rating and set a $30.62 price objective on the stock. in a report on Thursday, April 20th. Jefferies Group LLC reiterated a “hold” rating and issued a $27.00 price target on shares of Macy’s in a report on Thursday, May 11th. Zacks Investment Research downgraded Macy’s from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. Wunderlich reiterated a “buy” rating and issued a $24.00 price target on shares of Macy’s in a report on Friday, May 5th. Finally, Gordon Haskett assumed coverage on Macy’s in a report on Tuesday, May 9th. They issued a “hold” rating and a $29.00 price target for the company. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Macy’s has an average rating of “Hold” and an average price target of $29.74.
In related news, insider Jeffrey Gennette purchased 13,085 shares of Macy’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director William H. Lenehan purchased 4,390 shares of Macy’s stock in a transaction dated Thursday, June 15th. The stock was bought at an average price of $22.72 per share, for a total transaction of $99,740.80. Following the completion of the transaction, the director now directly owns 5,968 shares in the company, valued at $135,592.96. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by company insiders.
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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