Premier Asset Managment buys $1,557,560 stake in Macy's (M)

Macy's (M) : Premier Asset Managment scooped up 27,350 additional shares in Macy's during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 13, 2016. The investment management firm now holds a total of 42,325 shares of Macy's which is valued at $1,557,560.Macy's makes up approximately 0.40% of Premier Asset Managment’s portfolio.

Other Hedge Funds, Including , Gulf International Bank (uk) Ltd reduced its stake in M by selling 6,500 shares or 6.6% in the most recent quarter. The Hedge Fund company now holds 91,936 shares of M which is valued at $3,383,245. Macy's makes up approx 0.06% of Gulf International Bank (uk) Ltd’s portfolio.Hexavest boosted its stake in M in the latest quarter, The investment management firm added 651,889 additional shares and now holds a total of 1,242,787 shares of Macy's which is valued at $46,281,388. Macy's makes up approx 0.84% of Hexavest’s portfolio.Advisory Services Network reduced its stake in M by selling 449 shares or 9.35% in the most recent quarter. The Hedge Fund company now holds 4,351 shares of M which is valued at $165,512. Macy's makes up approx 0.03% of Advisory Services Network’s portfolio.First National Bank Of Mount Dora Trust Investment Services boosted its stake in M in the latest quarter, The investment management firm added 4,571 additional shares and now holds a total of 51,850 shares of Macy's which is valued at $1,937,116. Macy's makes up approx 1.09% of First National Bank Of Mount Dora Trust Investment Services’s portfolio.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.

Macy's closed down -0.3 points or -0.80% at $37.24 with 38,30,653 shares getting traded on Tuesday. Post opening the session at $37.53, the shares hit an intraday low of $37.14 and an intraday high of $37.725 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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.

Leave a Reply

Macy's - Is it time to Sell?

Top Brokerage Firms are advising their investors on Macy's. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.