Stoneridge Investment Partners LLC Has $4.68 Million Position in Macy’s Inc (M)

Stoneridge Investment Partners LLC raised its stake in Macy’s Inc (NYSE:M) by 57.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 201,399 shares of the company’s stock after buying an additional 73,363 shares during the period. Stoneridge Investment Partners LLC owned 0.07% of Macy’s worth $4,681,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gabalex Capital Management LLC increased its stake in shares of Macy’s by 14.3% in the second quarter. Gabalex Capital Management LLC now owns 800,000 shares of the company’s stock valued at $18,592,000 after buying an additional 100,000 shares during the last quarter. Rockland Trust Co. increased its stake in shares of Macy’s by 41.5% in the second quarter. Rockland Trust Co. now owns 34,082 shares of the company’s stock valued at $792,000 after buying an additional 10,002 shares during the last quarter. Global X Management Co. LLC increased its stake in shares of Macy’s by 31.9% in the second quarter. Global X Management Co. LLC now owns 11,958 shares of the company’s stock valued at $278,000 after buying an additional 2,891 shares during the last quarter. AT Bancorp increased its stake in shares of Macy’s by 35.7% in the second quarter. AT Bancorp now owns 49,058 shares of the company’s stock valued at $1,141,000 after buying an additional 12,918 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. increased its stake in shares of Macy’s by 691.8% in the second quarter. Candriam Luxembourg S.C.A. now owns 740,708 shares of the company’s stock valued at $17,215,000 after buying an additional 647,156 shares during the last quarter. Institutional investors and hedge funds own 84.21% of the company’s stock.

Shares of Macy’s Inc (M) opened at 19.49 on Friday. Macy’s Inc has a 52-week low of $19.35 and a 52-week high of $45.41. The firm has a 50-day moving average of $22.46 and a 200 day moving average of $26.52. The stock has a market capitalization of $5.94 billion, a PE ratio of 8.86 and a beta of 0.84. Macy’s also saw unusually large options trading activity on Wednesday. Investors acquired 813 put options on the stock. This is an increase of approximately 166% compared to the average daily volume of 306 put options.

Macy’s (NYSE:M) last announced its earnings results on Thursday, August 10th. The company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.03. The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.52 billion. Macy’s had a net margin of 2.71% and a return on equity of 21.38%. Macy’s’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 earnings per share. Equities research analysts forecast that Macy’s Inc will post $3.38 EPS for the current fiscal year.

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Several analysts have recently commented on the stock. Royal Bank Of Canada set a $28.00 price objective on shares of Macy’s and gave the company a “hold” rating in a research report on Saturday, May 13th. Cowen and Company set a $29.00 price objective on shares of Macy’s and gave the company a “hold” rating in a research report on Saturday, May 13th. UBS AG reiterated a “neutral” rating and issued a $21.00 price target (down from $23.00) on shares of Macy’s in a report on Monday, August 14th. Telsey Advisory Group reduced their price target on shares of Macy’s from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, June 7th. Finally, Citigroup Inc. reduced their price target on shares of Macy’s from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $29.74.

In other news, insider Jeffrey Gennette bought 13,085 shares of Macy’s stock in a transaction that occurred on Monday, June 12th. The shares were purchased at an average price of $22.95 per share, with a total value of $300,300.75. Following the completion of the acquisition, the insider now directly owns 89,053 shares in the company, valued at $2,043,766.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William H. Lenehan acquired 4,390 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were bought at an average cost of $22.72 per share, for a total transaction of $99,740.80. Following the acquisition, the director now owns 5,968 shares of the company’s stock, valued at approximately $135,592.96. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.

About Macy’s

Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.

Institutional Ownership by Quarter for Macy`s (NYSE:M)

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