Whittier Trust Co. held its position in shares of Macy’s Inc (NYSE:M) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,901 shares of the company’s stock at the end of the second quarter. Whittier Trust Co.’s holdings in Macy’s were worth $160,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. increased its stake in shares of Macy’s by 2,606.3% in the first quarter. BlackRock Inc. now owns 24,416,816 shares of the company’s stock valued at $723,716,000 after buying an additional 23,514,600 shares in the last quarter. Levin Capital Strategies L.P. bought a new stake in shares of Macy’s during the first quarter valued at about $73,163,000. Morgan Stanley increased its stake in shares of Macy’s by 50.0% in the first quarter. Morgan Stanley now owns 3,772,472 shares of the company’s stock valued at $111,817,000 after buying an additional 1,258,024 shares in the last quarter. OppenheimerFunds Inc. increased its stake in shares of Macy’s by 114.2% in the first quarter. OppenheimerFunds Inc. now owns 2,068,938 shares of the company’s stock valued at $61,324,000 after buying an additional 1,102,887 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Macy’s by 2.8% in the first quarter. Vanguard Group Inc. now owns 29,994,367 shares of the company’s stock valued at $889,033,000 after buying an additional 825,309 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.
Macy’s Inc (NYSE M) traded down 1.23% during midday trading on Friday, hitting $23.30. 8,755,562 shares of the company traded hands. Macy’s Inc has a 12-month low of $20.85 and a 12-month high of $45.41. The stock’s 50-day moving average is $22.80 and its 200-day moving average is $27.21. The firm has a market capitalization of $7.09 billion, a PE ratio of 12.57 and a beta of 0.84. Macy’s also was the recipient of unusually large options trading activity on Wednesday. Traders purchased 813 put options on the stock. This represents an increase of approximately 166% compared to the typical volume of 306 put options.
Macy’s (NYSE:M) last posted its earnings results on Thursday, May 11th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.12. Macy’s had a return on equity of 22.37% and a net margin of 2.26%. The firm had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same quarter in the previous year, the company earned $0.40 EPS. The business’s revenue was down 7.5% compared to the same quarter last year. Analysts anticipate that Macy’s Inc will post $3.32 EPS for the current fiscal year.
Several analysts have recently weighed in on the company. Royal Bank Of Canada set a $28.00 target price on Macy’s and gave the company a “hold” rating in a research note on Saturday, May 13th. Cowen and Company set a $29.00 price target on shares of Macy’s and gave the stock a “hold” rating in a research report on Saturday, May 13th. Vetr cut shares of Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 price target on the stock. in a research report on Thursday, July 27th. Jefferies Group LLC reduced their price target on shares of Macy’s from $27.00 to $24.00 and set a “hold” rating on the stock in a research report on Friday, June 9th. Finally, Northcoast Research reissued a “neutral” rating on shares of Macy’s in a report on Thursday, May 11th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $32.07.
In other news, Director William H. Lenehan purchased 4,390 shares of the stock in a transaction dated Thursday, June 15th. The shares were purchased at an average cost of $22.72 per share, with a total value of $99,740.80. Following the completion of the acquisition, the director now owns 5,968 shares in the company, valued at approximately $135,592.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jeffrey Gennette purchased 13,085 shares of the stock in a transaction dated Monday, June 12th. The stock was purchased at an average cost of $22.95 per share, for a total transaction of $300,300.75. Following the completion of the acquisition, the insider now owns 89,053 shares of the company’s stock, valued at approximately $2,043,766.35. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by 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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