Murphy Pohlad Asset Management LLC reduced its holdings in shares of Macy's Inc (NYSE:M) by 46.3% in the 4th quarter, HoldingsChannel reports. The fund owned 13,811 shares of the company’s stock after selling 11,900 shares during the quarter. Murphy Pohlad Asset Management LLC’s holdings in Macy's were worth $347,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Douglas Lane & Associates LLC lifted its holdings in shares of Macy's by 57.8% in the 3rd quarter. Douglas Lane & Associates LLC now owns 2,243,096 shares of the company’s stock valued at $48,944,000 after purchasing an additional 821,366 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of Macy's by 75.3% in the 3rd quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company’s stock valued at $109,392,000 after purchasing an additional 2,153,110 shares during the last quarter. Benchmark Capital Advisors purchased a new stake in shares of Macy's in the 3rd quarter valued at about $1,335,000. Empirical Finance LLC purchased a new stake in shares of Macy's in the 3rd quarter valued at about $1,221,000. Finally, Sanders Morris Harris LLC lifted its holdings in shares of Macy's by 28.2% in the 3rd quarter. Sanders Morris Harris LLC now owns 296,900 shares of the company’s stock valued at $6,478,000 after purchasing an additional 65,300 shares during the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on M. Royal Bank of Canada set a $26.00 price objective on Macy's and gave the company a “hold” rating in a research note on Friday, January 19th. Vetr downgraded Macy's from a “strong-buy” rating to a “buy” rating and set a $28.05 target price for the company. in a research note on Tuesday, December 19th. Zacks Investment Research raised Macy's from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Wednesday, January 10th. Telsey Advisory Group increased their target price on Macy's from $25.00 to $28.00 and gave the stock a “market perform” rating in a research note on Thursday, December 28th. Finally, ValuEngine downgraded Macy's from a “buy” rating to a “hold” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Macy's presently has an average rating of “Hold” and an average price target of $26.07.
Shares of Macy's Inc (NYSE:M) opened at $24.89 on Monday. The company has a market capitalization of $7,580.66, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 1.05 and a beta of 0.98. The company has a current ratio of 1.29, a quick ratio of 0.19 and a debt-to-equity ratio of 1.49. Macy's Inc has a fifty-two week low of $17.41 and a fifty-two week high of $34.37.
Macy's (NYSE:M) last announced its earnings results on Thursday, November 9th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. Macy's had a return on equity of 21.20% and a net margin of 2.83%. The firm had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.31 billion. During the same quarter in the prior year, the firm earned $0.17 EPS. Macy's’s quarterly revenue was down 6.1% on a year-over-year basis. equities research analysts forecast that Macy's Inc will post 3.63 earnings per share for the current year.
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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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