Stone Ridge Asset Management LLC Acquires 21,200 Shares of Macy’s Inc (NYSE:M)

Stone Ridge Asset Management LLC boosted its holdings in shares of Macy’s Inc (NYSE:M) by 15.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 158,888 shares of the company’s stock after acquiring an additional 21,200 shares during the quarter. Stone Ridge Asset Management LLC owned 0.05% of Macy’s worth $3,410,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of M. Avestar Capital LLC boosted its stake in shares of Macy’s by 2,168.2% in the 1st quarter. Avestar Capital LLC now owns 1,497 shares of the company’s stock valued at $35,000 after purchasing an additional 1,431 shares during the last quarter. Bartlett & Co. LLC boosted its stake in shares of Macy’s by 74.7% in the 2nd quarter. Bartlett & Co. LLC now owns 1,889 shares of the company’s stock valued at $41,000 after purchasing an additional 808 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its stake in shares of Macy’s by 841.4% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,864 shares of the company’s stock valued at $45,000 after purchasing an additional 1,666 shares during the last quarter. Destination Wealth Management boosted its stake in shares of Macy’s by 27.1% in the 1st quarter. Destination Wealth Management now owns 2,344 shares of the company’s stock valued at $56,000 after purchasing an additional 500 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Macy’s by 1,733.1% in the 2nd quarter. Parallel Advisors LLC now owns 2,603 shares of the company’s stock valued at $56,000 after purchasing an additional 2,461 shares during the last quarter. 89.04% of the stock is currently owned by institutional investors.

NYSE M traded down $0.62 on Friday, hitting $14.94. 17,224,816 shares of the company were exchanged, compared to its average volume of 14,259,971. The company has a market cap of $4.75 billion, a PE ratio of 3.57, a PEG ratio of 0.71 and a beta of 0.55. Macy’s Inc has a 12 month low of $14.84 and a 12 month high of $38.35. The stock has a fifty day moving average of $20.39 and a 200-day moving average of $22.54. The company has a current ratio of 1.47, a quick ratio of 0.34 and a debt-to-equity ratio of 1.19.

Macy’s (NYSE:M) last issued its earnings results on Wednesday, August 14th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.17). The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.55 billion. Macy’s had a return on equity of 18.74% and a net margin of 4.11%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 earnings per share. On average, analysts expect that Macy’s Inc will post 2.87 earnings per share for the current year.

In related news, CFO Paula A. Price sold 1,189 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $21.30, for a total transaction of $25,325.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.55% of the stock is owned by corporate insiders.

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered shares of Macy’s from a “neutral” rating to an “underweight” rating in a research note on Wednesday, August 14th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $18.00 price objective (down from $25.00) on shares of Macy’s in a research note on Thursday, August 15th. UBS Group set a $25.00 price objective on shares of Macy’s and gave the company a “hold” rating in a research note on Friday, May 17th. Deutsche Bank reduced their price objective on shares of Macy’s from $29.00 to $23.00 and set a “hold” rating on the stock in a research note on Thursday, August 15th. Finally, Guggenheim lowered shares of Macy’s from a “buy” rating to a “neutral” rating in a research note on Friday. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. Macy’s has a consensus rating of “Hold” and an average target price of $23.83.

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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