Westpac Banking Corp Boosts Stock Holdings in Macy’s Inc (NYSE:M)

Westpac Banking Corp boosted its stake in shares of Macy’s Inc (NYSE:M) by 0.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,438 shares of the company’s stock after purchasing an additional 531 shares during the period. Westpac Banking Corp’s holdings in Macy’s were worth $1,469,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of M. Avestar Capital LLC raised its stake in Macy’s by 2,168.2% during the first quarter. Avestar Capital LLC now owns 1,497 shares of the company’s stock worth $35,000 after purchasing an additional 1,431 shares during the period. Bartlett & Co. LLC raised its stake in Macy’s by 74.7% during the second quarter. Bartlett & Co. LLC now owns 1,889 shares of the company’s stock worth $41,000 after purchasing an additional 808 shares during the period. Wealthcare Advisory Partners LLC raised its stake in Macy’s by 841.4% during the first quarter. Wealthcare Advisory Partners LLC now owns 1,864 shares of the company’s stock worth $45,000 after purchasing an additional 1,666 shares during the period. Destination Wealth Management raised its stake in Macy’s by 27.1% during the first quarter. Destination Wealth Management now owns 2,344 shares of the company’s stock worth $56,000 after purchasing an additional 500 shares during the period. Finally, Steward Partners Investment Advisory LLC purchased a new position in Macy’s during the second quarter worth approximately $57,000. 90.71% of the stock is currently owned by institutional investors.

M has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Macy’s from a “sell” rating to a “hold” rating in a research note on Thursday, May 16th. JPMorgan Chase & Co. downgraded shares of Macy’s from a “neutral” rating to an “underweight” rating in a research note on Wednesday. Guggenheim reaffirmed a “buy” rating and set a $20.00 price target (down previously from $30.00) on shares of Macy’s in a research note on Thursday. They noted that the move was a valuation call. UBS Group set a $25.00 price target on shares of Macy’s and gave the stock a “hold” rating in a research note on Friday, May 17th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $18.00 price target (down previously from $25.00) on shares of Macy’s in a research note on Thursday. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $23.83.

In other news, Director Francis S. Blake purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was acquired at an average cost of $21.63 per share, with a total value of $216,300.00. Following the acquisition, the director now owns 2,200 shares in the company, valued at $47,586. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Harry A. Lawton III purchased 5,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average cost of $21.37 per share, with a total value of $106,850.00. Following the completion of the acquisition, the president now owns 31,038 shares in the company, valued at approximately $663,282.06. The disclosure for this purchase can be found here. 0.55% of the stock is owned by corporate insiders.

Shares of Macy’s stock traded down $0.18 during trading hours on Friday, hitting $15.98. The company’s stock had a trading volume of 14,052,700 shares, compared to its average volume of 12,450,090. Macy’s Inc has a 1-year low of $15.80 and a 1-year high of $39.00. The business has a fifty day moving average of $21.18 and a 200 day moving average of $22.86. The company has a market capitalization of $4.99 billion, a PE ratio of 3.82, a P/E/G ratio of 0.77 and a beta of 0.55. The company has a quick ratio of 0.32, a current ratio of 1.47 and a debt-to-equity ratio of 1.19.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, August 14th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.17). Macy’s had a return on equity of 18.74% and a net margin of 4.11%. The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same period in the previous year, the company earned $0.70 EPS. Macy’s’s revenue was down .5% on a year-over-year basis. On average, sell-side analysts anticipate that Macy’s Inc will post 2.85 earnings per share for the current fiscal year.

Macy’s 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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