Gabalex Capital Management LLC increased its position in shares of Macy’s Inc (NYSE:M) by 14.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 800,000 shares of the company’s stock after buying an additional 100,000 shares during the period. Macy’s comprises 6.0% of Gabalex Capital Management LLC’s holdings, making the stock its 8th largest position. Gabalex Capital Management LLC owned approximately 0.26% of Macy’s worth $18,592,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Macy’s by 2.8% in the first quarter. Vanguard Group Inc. now owns 29,994,367 shares of the company’s stock valued at $889,033,000 after buying an additional 825,309 shares during the last quarter. BlackRock Inc. raised its stake in shares of Macy’s by 2,606.3% in the first quarter. BlackRock Inc. now owns 24,416,816 shares of the company’s stock valued at $723,716,000 after buying an additional 23,514,600 shares during the last quarter. State Street Corp raised its stake in shares of Macy’s by 2.8% in the first quarter. State Street Corp now owns 14,715,484 shares of the company’s stock valued at $436,170,000 after buying an additional 399,433 shares during the last quarter. American International Group Inc. raised its stake in shares of Macy’s by 1.2% in the first quarter. American International Group Inc. now owns 12,086,267 shares of the company’s stock valued at $358,237,000 after buying an additional 147,156 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Macy’s by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 7,412,574 shares of the company’s stock valued at $219,709,000 after buying an additional 234,641 shares during the last quarter. Hedge funds and other institutional investors own 84.21% of the company’s stock.
Shares of Macy’s Inc (M) traded down 0.66% during mid-day trading on Friday, hitting $19.49. The company had a trading volume of 10,487,634 shares. Macy’s Inc has a 52 week low of $19.35 and a 52 week high of $45.41. The firm has a market capitalization of $5.94 billion, a PE ratio of 8.86 and a beta of 0.84. The firm has a 50-day moving average price of $22.46 and a 200-day moving average price of $26.52. Macy’s also saw unusually large options trading activity on Wednesday. Investors acquired 813 put options on the company. This represents an increase of 166% compared to the average daily volume of 306 put options.
Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, August 10th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. Macy’s had a net margin of 2.71% and a return on equity of 21.38%. The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same period in the previous year, the business earned $0.51 EPS. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities analysts forecast that Macy’s Inc will post $3.38 earnings per share for the current year.
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M has been the topic of several research analyst reports. Royal Bank Of Canada set a $23.00 target price on Macy’s and gave the company a “hold” rating in a research report on Friday, August 11th. Goldman Sachs Group, Inc. (The) dropped their price target on Macy’s from $28.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 7th. Vetr raised Macy’s from a “buy” rating to a “strong-buy” rating and set a $30.62 price target on the stock in a research note on Thursday, May 11th. Gordon Haskett started coverage on Macy’s in a research note on Tuesday, May 9th. They set a “hold” rating and a $29.00 price target on the stock. Finally, Bank of America Corporation dropped their price target on Macy’s from $31.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, June 9th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $29.74.
In other news, insider Jeffrey Gennette acquired 13,085 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The stock was bought at an average cost of $22.95 per share, for a total transaction of $300,300.75. Following the acquisition, the insider now directly owns 89,053 shares in the company, valued at $2,043,766.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William H. Lenehan acquired 4,390 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was purchased at an average price of $22.72 per share, with a total value of $99,740.80. Following the completion of the acquisition, the director now owns 5,968 shares in the company, valued at $135,592.96. The disclosure for this purchase can be found here. 1.40% of the stock is owned by insiders.
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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