Macy’s, Inc. (NYSE:M) Shares Acquired by Lebenthal Global Advisors LLC

Lebenthal Global Advisors LLC boosted its stake in Macy’s, Inc. (NYSE:M) by 12.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 55,477 shares of the company’s stock after purchasing an additional 5,967 shares during the period. Lebenthal Global Advisors LLC’s holdings in Macy’s were worth $939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. Quest Partners LLC acquired a new position in shares of Macy’s during the third quarter worth approximately $35,000. Venturi Wealth Management LLC raised its stake in Macy’s by 282.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after acquiring an additional 1,685 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in Macy’s during the 3rd quarter worth $39,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Macy’s in the second quarter worth $62,000. Finally, Huntington National Bank grew its stake in shares of Macy’s by 937.4% in the third quarter. Huntington National Bank now owns 4,637 shares of the company’s stock worth $73,000 after purchasing an additional 4,190 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors.

Macy’s Trading Down 0.5 %

Macy’s stock opened at $15.29 on Tuesday. Macy’s, Inc. has a 1 year low of $13.66 and a 1 year high of $22.10. The firm’s 50 day moving average price is $15.96 and its two-hundred day moving average price is $15.83. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of 25.91 and a beta of 2.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26.

Macy’s (NYSE:M) last issued its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. On average, research analysts predict that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on M. UBS Group cut their price objective on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a research note on Thursday, December 12th. Guggenheim restated a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. Morgan Stanley decreased their price objective on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, December 12th. Argus raised Macy’s to a “hold” rating in a report on Thursday, October 10th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $17.78.

About Macy’s

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.