Cetera Investment Advisers boosted its stake in Macy’s Inc (NYSE:M) by 143.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,209 shares of the company’s stock after buying an additional 17,778 shares during the period. Cetera Investment Advisers’ holdings in Macy’s were worth $148,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. increased its stake in shares of Macy’s by 42.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 212,956 shares of the company’s stock valued at $1,046,000 after purchasing an additional 63,229 shares during the period. Baird Financial Group Inc. bought a new position in Macy’s in the 4th quarter worth approximately $960,000. Smith Graham & Co. Investment Advisors LP increased its position in Macy’s by 17.3% in the 1st quarter. Smith Graham & Co. Investment Advisors LP now owns 425,920 shares of the company’s stock valued at $2,091,000 after acquiring an additional 62,870 shares during the period. Victory Capital Management Inc. raised its stake in Macy’s by 174.9% during the 4th quarter. Victory Capital Management Inc. now owns 259,736 shares of the company’s stock valued at $4,416,000 after acquiring an additional 165,239 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its position in Macy’s by 2.5% during the 4th quarter. Chevy Chase Trust Holdings Inc. now owns 262,703 shares of the company’s stock worth $4,466,000 after acquiring an additional 6,509 shares during the period. Institutional investors own 91.78% of the company’s stock.
Shares of NYSE:M opened at $5.21 on Friday. The company has a market capitalization of $1.66 billion, a PE ratio of 2.86 and a beta of 1.53. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.28 and a current ratio of 1.18. The stock has a fifty day moving average of $5.45 and a 200-day moving average of $12.32. Macy’s Inc has a one year low of $4.38 and a one year high of $23.40.
Macy’s (NYSE:M) last announced its earnings results on Tuesday, February 25th. The company reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.16. Macy’s had a return on equity of 14.47% and a net margin of 2.30%. The company had revenue of $8.34 billion for the quarter, compared to analyst estimates of $8.32 billion. During the same period in the previous year, the firm earned $2.73 earnings per share. Macy’s’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, research analysts forecast that Macy’s Inc will post -0.56 EPS for the current fiscal year.
In other news, insider John T. Harper sold 6,123 shares of Macy’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $5.47, for a total value of $33,492.81. Following the transaction, the insider now directly owns 23,850 shares of the company’s stock, valued at $130,459.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 6,747 shares of company stock worth $36,821. Corporate insiders own 0.58% of the company’s stock.
A number of brokerages recently weighed in on M. UBS Group cut their price objective on shares of Macy’s from $14.50 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. ValuEngine downgraded shares of Macy’s from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Morgan Stanley decreased their price objective on shares of Macy’s from $10.00 to $5.00 and set an “underweight” rating for the company in a report on Thursday, April 23rd. Bank of America reissued an “underperform” rating and set a $4.50 target price (down previously from $5.00) on shares of Macy’s in a report on Friday. Finally, Guggenheim restated a “hold” rating on shares of Macy’s in a research report on Tuesday, February 25th. Eight investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $10.61.
Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.
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