AT Bancorp Purchases 12,918 Shares of Macy’s Inc (NYSE:M)
AT Bancorp boosted its stake in shares of Macy’s Inc (NYSE:M) by 35.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,058 shares of the company’s stock after buying an additional 12,918 shares during the period. AT Bancorp’s holdings in Macy’s were worth $1,141,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC increased its stake in Macy’s by 9.5% in the first quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock worth $109,000 after buying an additional 320 shares during the last quarter. Financial Architects Inc increased its stake in Macy’s by 254.5% in the second quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock worth $136,000 after buying an additional 4,200 shares during the last quarter. Ropes Wealth Advisors LLC increased its stake in Macy’s by 63.5% in the first quarter. Ropes Wealth Advisors LLC now owns 4,806 shares of the company’s stock worth $142,000 after buying an additional 1,866 shares during the last quarter. Edge Wealth Management LLC bought a new stake in Macy’s during the second quarter worth $142,000. Finally, Winslow Evans & Crocker Inc. increased its stake in Macy’s by 241.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 5,530 shares of the company’s stock worth $164,000 after buying an additional 3,910 shares during the last quarter. Institutional investors and hedge funds own 84.30% of the company’s stock.
Shares of Macy’s Inc (NYSE:M) opened at 23.30 on Monday. The firm has a market cap of $7.09 billion, a PE ratio of 12.57 and a beta of 0.84. Macy’s Inc has a 52 week low of $20.85 and a 52 week high of $45.41. The stock has a 50 day moving average price of $22.80 and a 200 day moving average price of $27.21.
Macy’s (NYSE:M) last issued its quarterly earnings results on Thursday, May 11th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.12. Macy’s had a return on equity of 22.37% and a net margin of 2.26%. The firm had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.49 billion. During the same period last year, the firm earned $0.40 EPS. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. Equities analysts expect that Macy’s Inc will post $3.32 earnings per share for the current year.
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M has been the subject of a number of recent analyst reports. Vetr upgraded Macy’s from a “buy” rating to a “strong-buy” rating and set a $30.62 target price for the company in a research report on Thursday, May 11th. Wunderlich reiterated a “buy” rating and set a $24.00 target price on shares of Macy’s in a research report on Friday, May 5th. Zacks Investment Research upgraded Macy’s from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Telsey Advisory Group cut their target price on Macy’s from $36.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, May 12th. Finally, Gordon Haskett initiated coverage on Macy’s in a research report on Tuesday, May 9th. They set a “hold” rating and a $29.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.07.
In related news, Director William H. Lenehan acquired 4,390 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were purchased at an average price of $22.72 per share, for a total transaction 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 purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeffrey Gennette acquired 13,085 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was bought at an average price of $22.95 per share, for a total transaction of $300,300.75. Following the acquisition, the insider now owns 89,053 shares of the company’s stock, valued at approximately $2,043,766.35. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.
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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