Boothbay Fund Management LLC acquired a new stake in Macy’s, Inc. (NYSE:M) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 60,080 shares of the company’s stock, valued at approximately $342,000.
Other large investors also recently added to or reduced their stakes in the company. Private Portfolio Partners LLC grew 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 purchasing an additional 1,400 shares during the period. MANA Advisors LLC acquired a new stake in Macy’s in the 3rd quarter valued at $154,000. Morgan Stanley grew its position in Macy’s by 39.7% in the 3rd quarter. Morgan Stanley now owns 3,192,748 shares of the company’s stock valued at $18,198,000 after purchasing an additional 907,953 shares during the period. Charles Schwab Investment Management Inc. grew its position in Macy’s by 9.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,762,499 shares of the company’s stock valued at $21,447,000 after purchasing an additional 338,113 shares during the period. Finally, Guggenheim Capital LLC grew its position in Macy’s by 2.2% in the 3rd quarter. Guggenheim Capital LLC now owns 167,185 shares of the company’s stock valued at $953,000 after purchasing an additional 3,582 shares during the period. Institutional investors own 80.47% of the company’s stock.
Several analysts recently issued reports on the stock. Credit Suisse Group lifted their price target on shares of Macy’s from $6.00 to $7.00 and gave the company an “underperform” rating in a research report on Friday, November 20th. Telsey Advisory Group lifted their price target on shares of Macy’s from $6.00 to $7.00 and gave the company a “market perform” rating in a research report on Thursday, September 3rd. Morgan Stanley lifted their price objective on shares of Macy’s from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Friday, November 20th. OTR Global raised shares of Macy’s to a “sell” rating in a report on Friday, October 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Macy’s from $7.00 to $9.00 and gave the stock a “hold” rating in a report on Friday, November 20th. Eight research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.41.
Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, November 18th. The company reported ($0.19) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.81) by $0.62. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $0.07 EPS. As a group, research analysts predict that Macy’s, Inc. will post -2.92 earnings per share for the current year.
Macy’s Profile
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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