Point View Wealth Management Inc. Decreases Stock Holdings in Macy’s Inc (NYSE:M)
Point View Wealth Management Inc. reduced its stake in shares of Macy’s Inc (NYSE:M) by 21.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,282 shares of the company’s stock after selling 2,786 shares during the period. Point View Wealth Management Inc.’s holdings in Macy’s were worth $175,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Yacktman Asset Management LP boosted its holdings in Macy’s by 114.9% in the 3rd quarter. Yacktman Asset Management LP now owns 23,761,884 shares of the company’s stock valued at $369,260,000 after purchasing an additional 12,705,052 shares during the last quarter. American International Group Inc. grew its stake in shares of Macy’s by 76.5% in the fourth quarter. American International Group Inc. now owns 18,897,586 shares of the company’s stock valued at $321,259,000 after buying an additional 8,193,401 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Macy’s by 764.8% in the 3rd quarter. Millennium Management LLC now owns 2,362,543 shares of the company’s stock valued at $36,713,000 after buying an additional 2,089,343 shares during the period. Exchange Traded Concepts LLC acquired a new position in Macy’s during the 4th quarter worth about $23,147,000. Finally, Todd Asset Management LLC lifted its stake in Macy’s by 1,749.8% during the 4th quarter. Todd Asset Management LLC now owns 1,029,214 shares of the company’s stock worth $17,497,000 after acquiring an additional 973,574 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE M traded down $0.07 during trading hours on Friday, reaching $16.67. The stock had a trading volume of 5,549,060 shares, compared to its average volume of 13,012,402. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 5.38, a PEG ratio of 0.88 and a beta of 0.66. The company has a current ratio of 1.28, a quick ratio of 0.16 and a debt-to-equity ratio of 1.24. Macy’s Inc has a fifty-two week low of $14.11 and a fifty-two week high of $26.33. The firm has a 50-day moving average of $16.95 and a 200-day moving average of $16.42.
M has been the subject of several research reports. Atlantic Securities raised Macy’s from an “underweight” rating to a “neutral” rating and set a $18.00 target price for the company in a research report on Thursday, January 9th. Deutsche Bank reduced their price target on shares of Macy’s from $22.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday, November 22nd. Guggenheim reissued a “hold” rating on shares of Macy’s in a research report on Wednesday, January 8th. Morgan Stanley lowered their price objective on shares of Macy’s from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Thursday, December 19th. Finally, ValuEngine upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $16.59.
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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