Cedar Hill Associates LLC Sells 2,100 Shares of Macy’s Inc (M)
Cedar Hill Associates LLC cut its holdings in shares of Macy’s Inc (NYSE:M) by 6.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,750 shares of the company’s stock after selling 2,100 shares during the quarter. Cedar Hill Associates LLC’s holdings in Macy’s were worth $1,188,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Whittier Trust Co. boosted its position in shares of Macy’s by 21.1% during the 2nd quarter. Whittier Trust Co. now owns 7,966 shares of the company’s stock worth $462,000 after acquiring an additional 1,390 shares in the last quarter. Amalgamated Bank boosted its position in shares of Macy’s by 3.7% during the 2nd quarter. Amalgamated Bank now owns 39,333 shares of the company’s stock worth $1,472,000 after acquiring an additional 1,402 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Macy’s by 2.3% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 72,053 shares of the company’s stock worth $2,697,000 after acquiring an additional 1,609 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its position in shares of Macy’s by 78.4% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 4,067 shares of the company’s stock worth $120,000 after acquiring an additional 1,787 shares in the last quarter. Finally, DnB Asset Management AS boosted its position in Macy’s by 5.8% in the second quarter. DnB Asset Management AS now owns 34,838 shares of the company’s stock valued at $1,304,000 after buying an additional 1,900 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.
A number of brokerages have weighed in on M. Standpoint Research lowered shares of Macy’s from a “buy” rating to a “hold” rating in a research report on Friday. Guggenheim restated a “buy” rating and issued a $36.00 target price on shares of Macy’s in a research report on Wednesday, May 16th. Zacks Investment Research lowered shares of Macy’s from a “buy” rating to a “hold” rating in a research report on Tuesday, May 8th. Susquehanna Bancshares upgraded shares of Macy’s from a “neutral” rating to a “buy” rating and raised their target price for the company from $25.00 to $43.00 in a research report on Tuesday, May 22nd. Finally, Evercore ISI raised their target price on shares of Macy’s from $17.41 to $36.00 and gave the company a “buy” rating in a research report on Monday, June 4th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $31.69.
Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, May 16th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.12. The company had revenue of $5.54 billion for the quarter, compared to analyst estimates of $5.39 billion. Macy’s had a net margin of 6.45% and a return on equity of 24.56%. Macy’s’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 earnings per share. equities analysts anticipate that Macy’s Inc will post 3.87 earnings per share for the current year.
Macy’s Company Profile
Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.
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