Clark Estates Incny adds Macy's (M) to its portfolio

Macy's (M) : Clark Estates Incny added new position in Macy's during the most recent quarter end. The investment management firm now holds 425,000 shares of Macy's which is valued at $14,207,750 , the company said in a statement filed on Aug 1, 2016 with the SEC.Macy's makes up approximately 2.67% of Clark Estates Incny’s portfolio.

Other Hedge Funds, Including , Wright Investors Service Inc sold out all of its stake in M during the most recent quarter. The investment firm sold 8,130 shares of M which is valued $271,786.Smith Graham Investment Advisors Lp boosted its stake in M in the latest quarter, The investment management firm added 30,320 additional shares and now holds a total of 113,920 shares of Macy's which is valued at $4,066,944. Macy's makes up approx 0.53% of Smith Graham Investment Advisors Lp’s portfolio. Laurel Grove Capital sold out all of its stake in M during the most recent quarter. The investment firm sold 8,100 shares of M which is valued $285,768.Nisa Investment Advisors boosted its stake in M in the latest quarter, The investment management firm added 64,241 additional shares and now holds a total of 120,687 shares of Macy's which is valued at $4,254,217. Macy's makes up approx 0.06% of Nisa Investment Advisors’s portfolio. Edge Wealth Management sold out all of its stake in M during the most recent quarter. The investment firm sold 114,615 shares of M which is valued $3,938,171.

Macy's opened for trading at $33.46 and hit $34 on the upside on Thursday, eventually ending the session at $33.69, with a gain of 0.78% or 0.26 points. The heightened volatility saw the trading volume jump to 46,81,659 shares. Company has a market cap of $10,390 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.

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.

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