Macy's (M) : Dw Partners Lp added new position in Macy's during the most recent quarter end. The investment management firm now holds 500,000 shares of Macy's which is valued at $15.6 Million , the company said in a statement filed on May 13, 2016 with the SEC.Macy's makes up approximately 29.22% of Dw Partners Lp’s portfolio.
Other Hedge Funds, Including , Brown Advisory Inc added M to its portfolio by purchasing 8,305 company shares during the most recent quarter which is valued at $259,282.Blackrock Japan Ltd reduced its stake in M by selling 18,591 shares or 4.29% in the most recent quarter. The Hedge Fund company now holds 414,885 shares of M which is valued at $13 Million. Macy's makes up approx 0.05% of Blackrock Japan Ltd’s portfolio. Zweig-dimenna Associates added M to its portfolio by purchasing 8,800 company shares during the most recent quarter which is valued at $274,736. Macy's makes up approx 0.02% of Zweig-dimenna Associates’s portfolio. Quantitative Investment Management sold out all of its stake in M during the most recent quarter. The investment firm sold 138,000 shares of M which is valued $5.2 Million.Mitsubishi Ufj Kokusai Asset Management Ltd. boosted its stake in M in the latest quarter, The investment management firm added 1,923 additional shares and now holds a total of 45,592 shares of Macy's which is valued at $1.7 Million. Macy's makes up approx 0.05% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.
Macy's opened for trading at $31.33 and hit $32 on the upside on Wednesday, eventually ending the session at $31.81, with a gain of 1.99% or 0.62 points. The heightened volatility saw the trading volume jump to 67,29,254 shares. Company has a market cap of $9,879 M.
On the company’s financial health, Macy's reported $0.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 11, 2016. Analyst had a consensus of $0.38. The company had revenue of $5771.00 million for the quarter, compared to analysts expectations of $5943.19 million. The company’s revenue was down -7.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.56 EPS.
Investors should note that on May 11, 2016, Macy's announced a cash dividend of $0.3775. The company’s management has announced Jun 13, 2016 as the ex-dividend date and fixed the record date on Jun 15, 2016. The payable date has been fixed on Jul 1, 2016.
Many Wall Street Analysts have commented on Macy's. Shares were Reiterated by Telsey Advisory Group on May 12, 2016 to “Market Perform” and Lowered the Price Target to $ 36 from a previous price target of $44 .Shares were Reiterated by RBC Capital Mkts on May 12, 2016 to “Sector Perform” and Lowered the Price Target to $ 35 from a previous price target of $42 .Macy's was Downgraded by Northcoast to ” Neutral” on May 12, 2016.
Macy’s Inc. is an omnichannel retail company operating stores Websites (macys.com bloomingdales.com and bluemercury.com) and mobile. As of January 31 2015 the operations of the Company included 823 stores with an area of approximately 147400000 square feet in 45 states of the United States the District of Columbia Guam and Puerto Rico. Of these 823 stores 447 were owned 267 were leased and 109 stores were operated under arrangements where the Company owned the building and leased the land. The Company operates its stores under the names of Macy’s Bloomingdale’s Bloomingdale’s Outlet and Bluemercury. The Company operates 13 Bloomingdale’s outlet stores. Bloomingdale’s in Dubai the United Arab Emirates is operated under a license agreement with Al Tayer Insignia a company of Al Tayer Group LLC.