Tensile Capital Management LLC cut its position in shares of Macy’s Inc (NYSE:M) by 15.8% during the third quarter, Holdings Channel reports. The fund owned 673,894 shares of the company’s stock after selling 126,000 shares during the period. Macy’s comprises about 5.6% of Tensile Capital Management LLC’s investment portfolio, making the stock its 8th largest position. Tensile Capital Management LLC owned about 0.22% of Macy’s worth $24,968,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Strs Ohio raised its stake in shares of Macy’s by 158.4% in the second quarter. Strs Ohio now owns 22,248 shares of the company’s stock worth $747,000 after buying an additional 13,639 shares during the period. Quantitative Systematic Strategies LLC purchased a new stake in shares of Macy’s during the second quarter worth approximately $245,000. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Macy’s by 0.3% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 26,896 shares of the company’s stock worth $903,000 after buying an additional 72 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Macy’s by 0.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 910,457 shares of the company’s stock worth $30,600,000 after buying an additional 3,513 shares during the period. Finally, ICM Asset Management Inc. WA raised its stake in shares of Macy’s by 12.5% in the second quarter. ICM Asset Management Inc. WA now owns 44,730 shares of the company’s stock worth $1,503,000 after buying an additional 4,970 shares during the period. 86.86% of the stock is owned by hedge funds and other institutional investors.
Shares of Macy’s Inc (NYSE:M) opened at 31.99 on Friday. The company’s 50-day moving average price is $31.61 and its 200-day moving average price is $36.51. The firm has a market cap of $9.78 billion, a P/E ratio of 14.56 and a beta of 0.79. Macy’s Inc has a 12 month low of $28.55 and a 12 month high of $45.50.
Macy’s (NYSE:M) last posted its earnings results on Thursday, November 10th. The company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by $0.24. Macy’s had a return on equity of 24.83% and a net margin of 2.63%. The firm had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the prior year, the business earned $0.56 EPS. Macy’s’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, analysts predict that Macy’s Inc will post $3.05 EPS for the current year.
M has been the topic of a number of research reports. Vetr upgraded Macy’s from a “buy” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a report on Monday, October 17th. Zacks Investment Research lowered Macy’s from a “hold” rating to a “sell” rating in a report on Wednesday, January 18th. Goldman Sachs Group, Inc. (The) set a $39.00 price target on Macy’s and gave the company a “hold” rating in a report on Thursday, January 5th. Royal Bank Of Canada cut their price target on Macy’s from $43.00 to $35.00 and set a “sector perform” rating on the stock in a report on Thursday, January 5th. Finally, OTR Global lowered Macy’s to a “sell” rating in a report on Friday, February 3rd. Three investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $39.52.
In related news, Director Craig Weatherup sold 20,000 shares of Macy’s stock in a transaction that occurred on Wednesday, November 30th. The shares were sold at an average price of $42.00, for a total value of $840,000.00. Following the sale, the director now owns 16,000 shares of the company’s stock, valued at approximately $672,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by company insiders.
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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