Lenox Wealth Advisors buys $2,870,668 stake in Macy's (M)

Macy's (M) : Lenox Wealth Advisors scooped up 870 additional shares in Macy's during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 5, 2016. The investment management firm now holds a total of 76,838 shares of Macy's which is valued at $2,870,668.Macy's makes up approximately 0.85% of Lenox Wealth Advisors’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in M by selling 49,150 shares or 14.04% in the most recent quarter. The Hedge Fund company now holds 300,856 shares of M which is valued at $11,239,980. Macy's makes up approx 0.05% of Bnp Paribas Arbitrage Sa’s portfolio.Washington Trust Bank boosted its stake in M in the latest quarter, The investment management firm added 297 additional shares and now holds a total of 2,947 shares of Macy's which is valued at $110,100. Macy's makes up approx 0.03% of Washington Trust Bank’s portfolio.West Oak Capital reduced its stake in M by selling 120 shares or 6.64% in the most recent quarter. The Hedge Fund company now holds 1,688 shares of M which is valued at $63,064. Macy's makes up approx 0.04% of West Oak Capital’s portfolio.

Macy's opened for trading at $36.31 and hit $36.6 on the upside on Tuesday, eventually ending the session at $36.56, with a gain of 0.77% or 0.28 points. The heightened volatility saw the trading volume jump to 51,00,909 shares. Company has a market cap of $11,278 M.

On the company’s financial health, Macy's reported $0.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 11, 2016. Analyst had a consensus of $0.48. The company had revenue of $5866.00 million for the quarter, compared to analysts expectations of $5767.08 million. The company’s revenue was down -3.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.64 EPS.

Many Wall Street Analysts have commented on Macy's. Macy's was Initiated by Guggenheim to “Buy” on Sep 30, 2016. Macy's was Downgraded by Credit Suisse to ” Neutral” on Sep 28, 2016. Macy's was Upgraded by Citigroup to ” Buy” on Sep 14, 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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