Great West Life Assurance Co. Can Has $10.49 Million Position in Macy’s Inc (M)
Great West Life Assurance Co. Can boosted its stake in shares of Macy’s Inc (NYSE:M) by 63.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 452,086 shares of the company’s stock after buying an additional 175,997 shares during the period. Great West Life Assurance Co. Can’s holdings in Macy’s were worth $10,487,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of M. BlackRock Inc. boosted its position 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. Levin Capital Strategies L.P. purchased a new position in shares of Macy’s during the first quarter valued at approximately $73,163,000. Morgan Stanley boosted its position in shares of Macy’s by 50.0% in the first quarter. Morgan Stanley now owns 3,772,472 shares of the company’s stock valued at $111,817,000 after buying an additional 1,258,024 shares during the last quarter. OppenheimerFunds Inc. boosted its position in shares of Macy’s by 114.2% in the first quarter. OppenheimerFunds Inc. now owns 2,068,938 shares of the company’s stock valued at $61,324,000 after buying an additional 1,102,887 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position 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. Institutional investors own 84.30% of the company’s stock.
Shares of Macy’s Inc (NYSE:M) opened at 23.03 on Thursday. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 12.42 and a beta of 0.84. The stock has a 50 day moving average of $22.93 and a 200-day moving average of $26.98. Macy’s Inc has a 1-year low of $20.85 and a 1-year high of $45.41.
Macy’s (NYSE:M) last issued its earnings results on Thursday, May 11th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the 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 during the quarter, compared to the consensus estimate of $5.49 billion. During the same quarter in the prior year, the business posted $0.40 EPS. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. Analysts forecast that Macy’s Inc will post $3.29 earnings per share for the current year.
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M has been the subject of several analyst reports. Vetr upgraded shares of 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 restated a “buy” rating and issued a $24.00 target price on shares of Macy’s in a research report on Friday, May 5th. Zacks Investment Research upgraded shares of Macy’s from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Telsey Advisory Group decreased their price target on shares of Macy’s from $36.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, May 12th. Finally, BidaskClub raised shares of Macy’s from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $32.11.
In related news, insider Jeffrey Gennette purchased 13,085 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were acquired at an average price of $22.95 per share, for a total transaction of $300,300.75. Following the completion of the acquisition, the insider now directly owns 89,053 shares in the company, valued at approximately $2,043,766.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William H. Lenehan purchased 4,390 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was bought at an average price of $22.72 per share, for a total transaction of $99,740.80. Following the acquisition, the director now owns 5,968 shares of the company’s stock, valued at $135,592.96. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by company 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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