TD Asset Management Inc. decreased its position in Macy’s Inc (NYSE:M) by 10.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 424,828 shares of the company’s stock after selling 48,792 shares during the period. TD Asset Management Inc.’s holdings in Macy’s were worth $9,873,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of M. Penserra Capital Management LLC increased its position in shares of Macy’s by 9.5% in the first quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock worth $109,000 after buying an additional 320 shares during the last quarter. Ropes Wealth Advisors LLC increased its position in shares of Macy’s by 63.5% in the first quarter. Ropes Wealth Advisors LLC now owns 4,806 shares of the company’s stock worth $142,000 after buying an additional 1,866 shares during the last quarter. First Manhattan Co. increased its position in shares of Macy’s by 0.6% in the first quarter. First Manhattan Co. now owns 5,076 shares of the company’s stock worth $188,000 after buying an additional 29 shares during the last quarter. Winslow Evans & Crocker Inc. increased its position in shares of Macy’s by 241.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 5,530 shares of the company’s stock worth $164,000 after buying an additional 3,910 shares during the last quarter. Finally, Financial Architects Inc increased its position in shares of Macy’s by 254.5% in the second quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock worth $136,000 after buying an additional 4,200 shares during the last quarter. Hedge funds and other institutional investors own 84.21% of the company’s stock.

Shares of Macy’s Inc (NYSE:M) opened at 20.29 on Wednesday. The firm has a market capitalization of $6.18 billion, a price-to-earnings ratio of 9.22 and a beta of 0.84. Macy’s Inc has a 12 month low of $20.16 and a 12 month high of $45.41. The stock’s 50 day moving average price is $22.75 and its 200-day moving average price is $26.69.

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. On average, equities research analysts predict that Macy’s Inc will post $3.33 EPS for the current fiscal year.

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A number of brokerages recently commented on M. Royal Bank Of Canada set a $28.00 price objective on Macy’s and gave the stock a “hold” rating in a research note on Saturday, May 13th. Cowen and Company set a $29.00 price objective on Macy’s and gave the stock a “hold” rating in a research note on Saturday, May 13th. Jefferies Group LLC restated a “hold” rating and set a $21.00 price objective (down from $24.00) on shares of Macy’s in a research note on Friday, August 11th. BMO Capital Markets reiterated an “outperform” rating on shares of Macy’s in a research report on Tuesday. Finally, Deutsche Bank AG boosted their price target on Macy’s from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, August 8th. 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 given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $29.74.

In related news, Director William H. Lenehan purchased 4,390 shares of Macy’s stock in a transaction dated Thursday, June 15th. The shares were acquired at an average cost of $22.72 per share, for a total transaction of $99,740.80. Following the transaction, the director now directly owns 5,968 shares of the company’s stock, valued at $135,592.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey Gennette purchased 13,085 shares of Macy’s stock in a transaction dated Monday, June 12th. The stock was bought at an average price of $22.95 per share, for a total transaction of $300,300.75. Following the completion of the transaction, the insider now directly owns 89,053 shares in the company, valued at $2,043,766.35. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by company insiders.

About Macy’s

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

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