State of Alaska Department of Revenue lowered its stake in Macy’s, Inc. (NYSE:M) by 16.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 241,549 shares of the company’s stock after selling 48,711 shares during the quarter. State of Alaska Department of Revenue owned about 0.08% of Macy’s worth $2,717,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Portfolio Partners LLC boosted its position in Macy’s by 13.0% in the 3rd quarter. Private Portfolio Partners LLC now owns 12,187 shares of the company’s stock valued at $69,000 after buying an additional 1,400 shares during the period. Stifel Financial Corp boosted its stake in shares of Macy’s by 1.9% in the 2nd quarter. Stifel Financial Corp now owns 84,343 shares of the company’s stock valued at $580,000 after buying an additional 1,555 shares during the period. New York State Common Retirement Fund grew its position in shares of Macy’s by 0.7% during the third quarter. New York State Common Retirement Fund now owns 273,100 shares of the company’s stock worth $1,557,000 after buying an additional 1,800 shares in the last quarter. Paloma Partners Management Co increased its stake in shares of Macy’s by 0.6% during the third quarter. Paloma Partners Management Co now owns 303,946 shares of the company’s stock worth $1,733,000 after buying an additional 1,828 shares during the period. Finally, Greenwich Wealth Management LLC raised its holdings in Macy’s by 9.7% in the third quarter. Greenwich Wealth Management LLC now owns 21,803 shares of the company’s stock valued at $124,000 after acquiring an additional 1,925 shares in the last quarter. 80.47% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Macy’s from $7.00 to $9.00 and gave the stock a “hold” rating in a research report on Friday, November 20th. ValuEngine upgraded shares of Macy’s from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 5th. Credit Suisse Group boosted their price objective on shares of Macy’s from $6.00 to $7.00 and gave the stock an “underperform” rating in a research report on Friday, November 20th. Morgan Stanley increased their target price on shares of Macy’s from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Friday, November 20th. Finally, OTR Global raised shares of Macy’s to a “sell” rating in a research report on Friday, October 30th. Eight research analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.05.
Macy’s (NYSE:M) last issued its earnings results on Wednesday, November 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.81) by $0.62. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.85 billion. Macy’s had a negative net margin of 19.91% and a negative return on equity of 8.21%. During the same period last year, the company posted $0.07 earnings per share. On average, sell-side analysts forecast that Macy’s, Inc. will post -2.92 earnings per share for the current fiscal year.
Macy's, Inc, an omnichannel retail organization, operates stores, websites, and mobile applications under the Macy's, Bloomingdale's, and bluemercury brands. It sells a range of merchandise, including apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods.
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