Gamco Investors INC. ET AL cut its holdings in Macy's Inc (NYSE:M) by 11.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 312,338 shares of the company’s stock after selling 39,325 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Macy's were worth $7,868,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of M. SeaCrest Wealth Management LLC acquired a new position in shares of Macy's during the fourth quarter worth about $119,000. Aperio Group LLC increased its stake in shares of Macy's by 9.6% during the fourth quarter. Aperio Group LLC now owns 201,224 shares of the company’s stock worth $5,069,000 after acquiring an additional 17,616 shares during the period. Kovack Advisors Inc. acquired a new position in shares of Macy's during the fourth quarter worth about $395,000. Victory Capital Management Inc. increased its stake in shares of Macy's by 12.5% during the fourth quarter. Victory Capital Management Inc. now owns 754,363 shares of the company’s stock worth $19,003,000 after acquiring an additional 83,713 shares during the period. Finally, Empirical Finance LLC increased its stake in shares of Macy's by 119.1% during the fourth quarter. Empirical Finance LLC now owns 122,560 shares of the company’s stock worth $3,087,000 after acquiring an additional 66,617 shares during the period. Institutional investors own 81.98% of the company’s stock.
A number of research analysts have recently issued reports on M shares. Guggenheim reiterated a “buy” rating and set a $27.00 price target on shares of Macy's in a research note on Friday, December 15th. Vetr lowered shares of Macy's from a “strong-buy” rating to a “buy” rating and set a $27.26 price target on the stock. in a research note on Monday, December 4th. Canaccord Genuity reiterated a “buy” rating and set a $9.50 price target on shares of Macy's in a research note on Thursday, November 16th. BMO Capital Markets set a $35.00 price target on shares of Macy's and gave the stock a “buy” rating in a research note on Sunday, November 12th. Finally, Susquehanna Bancshares set a $38.00 price target on shares of Macy's and gave the stock a “buy” rating in a research note on Friday, October 20th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $26.07.
Macy's (NYSE:M) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.31 billion. Macy's had a net margin of 2.83% and a return on equity of 21.20%. The firm’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 earnings per share. analysts forecast that Macy's Inc will post 3.63 EPS for the current year.
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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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