Dorsey & Whitney Trust CO LLC Takes Position in Macy’s Inc (NYSE:M)

Dorsey & Whitney Trust CO LLC bought a new stake in Macy’s Inc (NYSE:M) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,384 shares of the company’s stock, valued at approximately $106,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State of Tennessee Treasury Department increased its stake in shares of Macy’s by 81.9% in the second quarter. State of Tennessee Treasury Department now owns 132,136 shares of the company’s stock worth $910,000 after purchasing an additional 59,487 shares in the last quarter. Bridgewater Associates LP purchased a new stake in shares of Macy’s in the 2nd quarter valued at about $269,000. Ensign Peak Advisors Inc raised its stake in Macy’s by 45.8% in the second quarter. Ensign Peak Advisors Inc now owns 337,600 shares of the company’s stock valued at $2,323,000 after purchasing an additional 106,069 shares in the last quarter. AJO LP bought a new stake in shares of Macy’s during the 2nd quarter worth $6,093,000. Finally, American International Group Inc. lifted its stake in Macy’s by 109.9% during the second quarter. American International Group Inc. now owns 220,649 shares of the company’s stock worth $1,518,000 after purchasing an additional 115,542 shares during the last quarter. Institutional investors and hedge funds own 83.68% of the company’s stock.

Several equities research analysts recently weighed in on the company. TheStreet cut Macy’s from a “c” rating to a “d” rating in a report on Friday, July 10th. Credit Suisse Group assumed coverage on shares of Macy’s in a report on Friday. They set a “sell” rating and a $6.00 price target for the company. Zacks Investment Research upgraded Macy’s from a “sell” rating to a “hold” rating and set a $8.00 price objective for the company in a report on Wednesday, August 12th. Telsey Advisory Group boosted their price objective on shares of Macy’s from $6.00 to $7.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, Deutsche Bank raised their target price on shares of Macy’s from $6.00 to $7.00 and gave the stock a “hold” rating in a research report on Thursday. Nine equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $8.73.

Macy’s stock opened at $7.65 on Friday. Macy’s Inc has a one year low of $4.38 and a one year high of $18.57. The business’s fifty day moving average is $6.64 and its 200 day moving average is $7.32. The company has a debt-to-equity ratio of 3.49, a current ratio of 1.16 and a quick ratio of 0.38. The stock has a market capitalization of $2.36 billion, a PE ratio of -0.65 and a beta of 1.53.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, September 2nd. The company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.77) by $0.96. Macy’s had a negative net margin of 18.27% and a negative return on equity of 4.56%. The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter last year, the firm posted $0.28 EPS. The business’s quarterly revenue was down 35.8% compared to the same quarter last year. As a group, sell-side analysts expect that Macy’s Inc will post -4.44 EPS for the current fiscal year.

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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