Supplemental Annuity Collective Trust of NJ increased its stake in shares of Macy’s Inc (NYSE:M) by 128.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,693 shares of the company’s stock after buying an additional 15,000 shares during the period. Supplemental Annuity Collective Trust of NJ’s holdings in Macy’s were worth $620,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. TB Alternative Assets Ltd. bought a new stake in shares of Macy’s during the first quarter worth $5,421,000. Washington Trust Bank raised 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 valued at $405,000 after buying an additional 10,722 shares in the last quarter. Cadence Capital Management LLC raised 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 valued at $1,684,000 after buying an additional 17,186 shares in the last quarter. Banco Santander S.A. raised 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 valued at $1,556,000 after buying an additional 25,000 shares in the last quarter. Finally, OppenheimerFunds Inc. raised 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 valued at $61,324,000 after buying an additional 1,102,887 shares in the last quarter. 84.21% of the stock is owned by institutional investors.
Shares of Macy’s Inc (NYSE:M) traded down 0.74% on Wednesday, reaching $20.14. 8,763,103 shares of the company’s stock traded hands. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 9.15 and a beta of 0.84. The stock’s 50-day moving average price is $22.66 and its 200-day moving average price is $26.64. Macy’s Inc has a 52 week low of $20.11 and a 52 week high of $45.41.
Macy’s (NYSE:M) last posted 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. Macy’s had a net margin of 2.71% and a return on equity of 21.38%. The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the prior year, the company posted $0.51 EPS. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. Equities analysts predict that Macy’s Inc will post $3.33 EPS for the current year.
Several equities research analysts have recently commented on the stock. BMO Capital Markets restated an “outperform” rating on shares of Macy’s in a report on Tuesday. UBS AG reaffirmed a “neutral” rating and issued a $21.00 price objective (down previously from $23.00) on shares of Macy’s in a research report on Monday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $21.00 price objective (down previously from $24.00) on shares of Macy’s in a research report on Friday, August 11th. Cowen and Company reaffirmed a “market perform” rating and issued a $23.00 price objective (down previously from $26.00) on shares of Macy’s in a research report on Friday, August 11th. Finally, Credit Suisse Group cut their price objective on shares of Macy’s from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $29.74.
In related news, insider Jeffrey Gennette purchased 13,085 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was purchased at an average price of $22.95 per share, for a total transaction of $300,300.75. Following the acquisition, the insider now directly owns 89,053 shares in the company, valued at $2,043,766.35. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William H. Lenehan purchased 4,390 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was bought at an average price of $22.72 per share, with a total value of $99,740.80. Following the acquisition, the director now 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 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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