Texas Permanent School Fund reduced its position in shares of Macy’s Inc (NYSE:M) by 3.7% during the second quarter, Holdings Channel reports. The fund owned 85,557 shares of the company’s stock after selling 3,296 shares during the period. Texas Permanent School Fund’s holdings in Macy’s were worth $1,988,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Penserra Capital Management LLC boosted its stake in shares of 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 boosted its stake in shares of 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 boosted its stake in shares of 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 acquired a new stake in shares of Macy’s during the second quarter worth approximately $142,000. Finally, Winslow Evans & Crocker Inc. boosted its stake in shares of 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. Hedge funds and other institutional investors own 84.30% of the company’s stock.

Macy’s Inc (NYSE M) opened at 20.62 on Friday. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 11.12 and a beta of 0.84. The stock has a 50 day moving average of $22.86 and a 200-day moving average of $26.87. Macy’s Inc has a one year low of $20.16 and a one year high of $45.41. Macy’s also was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 33,975 call options on the stock. This represents an increase of approximately 489% compared to the average volume of 5,766 call options.

Macy’s (NYSE:M) last announced its quarterly earnings results on Thursday, August 10th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. Macy’s had a net margin of 2.71% and a return on equity of 21.69%. The company had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the previous year, the business posted $0.51 earnings per share. Macy’s’s quarterly revenue was down 5.4% on a year-over-year basis. On average, equities analysts predict that Macy’s Inc will post $3.33 EPS for the current fiscal year.

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M has been the topic of a number of recent research reports. Vetr cut shares of Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 price target on the stock. in a research note on Thursday, July 27th. Zacks Investment Research cut shares of Macy’s from a “hold” rating to a “sell” rating in a research note on Tuesday. Deutsche Bank AG upped their price target on shares of Macy’s from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday. Bank of America Corporation dropped their price target on shares of Macy’s from $31.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, June 9th. Finally, Gordon Haskett initiated coverage on shares of Macy’s in a research note on Tuesday, May 9th. They set a “hold” rating and a $29.00 price target on the stock. Two research 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 stock presently has an average rating of “Hold” and an average price target of $30.84.

In other Macy’s news, insider Jeffrey Gennette purchased 13,085 shares of Macy’s stock in a transaction that occurred on Monday, June 12th. The shares were bought at an average price of $22.95 per share, for a total transaction of $300,300.75. Following the completion of the transaction, the insider now owns 89,053 shares of the company’s stock, valued at approximately $2,043,766.35. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William H. Lenehan purchased 4,390 shares of Macy’s stock in a transaction that occurred on Thursday, June 15th. The stock was acquired at an average price of $22.72 per share, for a total transaction of $99,740.80. Following the transaction, the director now directly owns 5,968 shares of the company’s stock, valued at approximately $135,592.96. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

About Macy’s

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

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