Macy’s Inc (M) Position Raised by Quinn Opportunity Partners LLC

Quinn Opportunity Partners LLC boosted its position in shares of Macy’s Inc (NYSE:M) by 36.2% in the first quarter, Holdings Channel reports. The institutional investor owned 74,900 shares of the company’s stock after acquiring an additional 19,900 shares during the quarter. Quinn Opportunity Partners LLC’s holdings in Macy’s were worth $1,800,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of M. Private Capital Group LLC grew its position in shares of Macy’s by 110.1% in the 4th quarter. Private Capital Group LLC now owns 1,002 shares of the company’s stock worth $30,000 after buying an additional 525 shares during the period. Liberty Wealth Management LLC purchased a new stake in shares of Macy’s in the 4th quarter worth about $34,000. We Are One Seven LLC purchased a new stake in shares of Macy’s in the 4th quarter worth about $35,000. Dubuque Bank & Trust Co. purchased a new stake in shares of Macy’s in the 4th quarter worth about $45,000. Finally, Braun Bostich & Associates Inc. grew its position in shares of Macy’s by 155.0% in the 4th quarter. Braun Bostich & Associates Inc. now owns 1,660 shares of the company’s stock worth $49,000 after buying an additional 1,009 shares during the period. Institutional investors own 90.18% of the company’s stock.

In other news, Director Joyce M. Roche sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $24.30, for a total transaction of $243,000.00. Following the sale, the director now owns 13,647 shares of the company’s stock, valued at approximately $331,622.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Deirdre P. Connelly sold 6,250 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $25.76, for a total transaction of $161,000.00. Following the sale, the director now directly owns 17,092 shares in the company, valued at approximately $440,289.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,921 shares of company stock worth $421,238. Insiders own 0.55% of the company’s stock.

M stock traded down $0.12 during trading on Thursday, hitting $21.68. 5,875,077 shares of the stock traded hands, compared to its average volume of 9,624,433. Macy’s Inc has a 1 year low of $21.08 and a 1 year high of $41.99. The company has a market capitalization of $6.67 billion, a price-to-earnings ratio of 5.19, a price-to-earnings-growth ratio of 0.82 and a beta of 0.41. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.42 and a current ratio of 1.42.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, May 15th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.11. The firm had revenue of $5.50 billion for the quarter, compared to the consensus estimate of $5.52 billion. Macy’s had a net margin of 4.43% and a return on equity of 21.32%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 EPS. As a group, research analysts predict that Macy’s Inc will post 3.1 earnings per share for the current fiscal year.

A number of research firms have recently weighed in on M. Zacks Investment Research downgraded shares of Macy’s from a “hold” rating to a “strong sell” rating in a research report on Friday, March 1st. Jefferies Financial Group reissued a “hold” rating and set a $27.00 price objective on shares of Macy’s in a research report on Wednesday, February 27th. ValuEngine raised shares of Macy’s from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Desjardins reissued an “average” rating and set a $5.25 price objective on shares of Macy’s in a research report on Friday, March 22nd. Finally, Guggenheim reissued a “buy” rating and set a $30.00 price objective on shares of Macy’s in a research report on Tuesday, February 26th. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Macy’s currently has an average rating of “Hold” and an average target price of $28.93.

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Macy’s Company Profile

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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Institutional Ownership by Quarter for Macy`s (NYSE:M)

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