Retirement Systems of Alabama raised its stake in shares of Macy’s Inc (NYSE:M) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 561,243 shares of the company’s stock after buying an additional 647 shares during the period. Retirement Systems of Alabama’s holdings in Macy’s were worth $13,043,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of M. Candriam Luxembourg S.C.A. increased its position in Macy’s by 691.8% in the second quarter. Candriam Luxembourg S.C.A. now owns 740,708 shares of the company’s stock worth $17,215,000 after buying an additional 647,156 shares during the period. Sei Investments Co. increased its position in Macy’s by 29.8% in the second quarter. Sei Investments Co. now owns 16,047 shares of the company’s stock worth $373,000 after buying an additional 3,682 shares during the period. K.J. Harrison & Partners Inc purchased a new position in Macy’s during the second quarter worth $469,000. Supplemental Annuity Collective Trust of NJ increased its position in Macy’s by 128.3% in the second quarter. Supplemental Annuity Collective Trust of NJ now owns 26,693 shares of the company’s stock worth $620,000 after buying an additional 15,000 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its position in Macy’s by 1,095.5% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,189,500 shares of the company’s stock worth $27,644,000 after buying an additional 1,090,000 shares during the period. Institutional investors and hedge funds own 84.30% of the company’s stock.
Shares of Macy’s Inc (NYSE M) opened at 23.03 on Thursday. The company has a market capitalization of $7.01 billion, a P/E ratio of 12.42 and a beta of 0.84. Macy’s Inc has a one year low of $20.85 and a one year high of $45.41. The firm has a 50-day moving average price of $22.93 and a 200-day moving average price of $26.98.
Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, May 11th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by $0.12. The business had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.49 billion. Macy’s had a net margin of 2.26% and a return on equity of 22.37%. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 EPS. Equities analysts forecast that Macy’s Inc will post $3.29 earnings per share for the current year.
M has been the topic of a number of analyst reports. Vetr cut Macy’s from a “buy” rating to a “hold” rating and set a $30.62 price objective on the stock. in a research note on Thursday, April 20th. Jefferies Group LLC reiterated a “hold” rating and set a $27.00 price objective on shares of Macy’s in a research note on Thursday, May 11th. Zacks Investment Research cut Macy’s from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. Wunderlich reiterated a “buy” rating and set a $24.00 price objective on shares of Macy’s in a research note on Friday, May 5th. Finally, Gordon Haskett initiated coverage on Macy’s in a research note on Tuesday, May 9th. They set a “hold” rating and a $29.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $32.11.
In related news, insider Jeffrey Gennette acquired 13,085 shares of Macy’s stock in a transaction that occurred on Monday, June 12th. The stock was bought at an average price of $22.95 per share, with a total value of $300,300.75. Following the transaction, the insider now directly owns 89,053 shares in the company, valued at $2,043,766.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William H. Lenehan acquired 4,390 shares of Macy’s stock in a transaction that occurred on Thursday, June 15th. The shares were bought at an average cost of $22.72 per share, with a total value of $99,740.80. Following the transaction, the director now owns 5,968 shares in the company, valued at $135,592.96. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.
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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