Candriam Luxembourg S.C.A. reduced its position in shares of Macy’s Inc (NYSE:M) by 53.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,000 shares of the company’s stock after selling 29,096 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Macy’s were worth $172,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in M. Parallel Advisors LLC lifted its position in shares of Macy’s by 739.7% during the first quarter. Parallel Advisors LLC now owns 5,391 shares of the company’s stock valued at $26,000 after purchasing an additional 4,749 shares in the last quarter. tru Independence LLC raised its position in Macy’s by 7,700.0% in the first quarter. tru Independence LLC now owns 7,800 shares of the company’s stock worth $38,000 after acquiring an additional 7,700 shares during the period. Versant Capital Management Inc raised its position in Macy’s by 4,465.1% in the second quarter. Versant Capital Management Inc now owns 6,939 shares of the company’s stock worth $47,000 after acquiring an additional 6,787 shares during the period. Cetera Advisors LLC bought a new stake in Macy’s in the first quarter worth about $55,000. Finally, Cadence Capital Management LLC bought a new stake in Macy’s in the first quarter worth about $61,000. 89.72% of the stock is currently owned by institutional investors.

Shares of NYSE:M opened at $6.06 on Friday. The company has a 50 day moving average of $6.74 and a 200 day moving average of $9.12. The stock has a market cap of $1.88 billion, a P/E ratio of -0.60 and a beta of 1.57. Macy’s Inc has a 12 month low of $4.38 and a 12 month high of $22.99. The company has a current ratio of 1.24, a quick ratio of 0.38 and a debt-to-equity ratio of 2.91.

Macy’s (NYSE:M) last issued its quarterly earnings data on Tuesday, June 9th. The company reported ($2.03) EPS for the quarter, beating the consensus estimate of ($2.35) by $0.32. The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.03 billion. Macy’s had a negative net margin of 14.28% and a positive return on equity of 2.61%. On average, equities analysts forecast that Macy’s Inc will post -4.61 earnings per share for the current fiscal year.

Several analysts have commented on M shares. Zacks Investment Research raised shares of Macy’s from a “strong sell” rating to a “hold” rating and set a $8.00 price objective on the stock in a research report on Wednesday, July 22nd. UBS Group lowered shares of Macy’s from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $6.00 to $3.00 in a research report on Wednesday, July 22nd. Telsey Advisory Group lowered their price objective on shares of Macy’s from $8.00 to $6.00 and set a “market perform” rating on the stock in a research report on Friday, May 22nd. Credit Suisse Group lifted their price objective on shares of Macy’s from $4.50 to $6.00 and gave the stock an “underperform” rating in a research report on Wednesday, June 10th. Finally, Morgan Stanley lowered their price target on shares of Macy’s from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Monday, July 6th. Nine analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $9.32.

About Macy’s

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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