Amalgamated Bank Reduces Position in Macy’s, Inc. (NYSE:M)

Amalgamated Bank lessened its position in shares of Macy’s, Inc. (NYSE:MFree Report) by 3.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 171,675 shares of the company’s stock after selling 5,798 shares during the period. Amalgamated Bank’s holdings in Macy’s were worth $1,993,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Gabelli Funds LLC raised its stake in shares of Macy’s by 0.4% during the 1st quarter. Gabelli Funds LLC now owns 129,000 shares of the company’s stock worth $3,142,000 after acquiring an additional 500 shares in the last quarter. Vontobel Holding Ltd. grew its position in Macy’s by 1.8% during the 1st quarter. Vontobel Holding Ltd. now owns 35,384 shares of the company’s stock worth $862,000 after purchasing an additional 640 shares during the last quarter. Truist Financial Corp grew its position in Macy’s by 1.6% during the 2nd quarter. Truist Financial Corp now owns 41,575 shares of the company’s stock worth $667,000 after purchasing an additional 649 shares during the last quarter. CWM LLC grew its position in Macy’s by 53.8% during the 2nd quarter. CWM LLC now owns 1,952 shares of the company’s stock worth $31,000 after purchasing an additional 683 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in Macy’s by 52.3% during the 1st quarter. Lazard Asset Management LLC now owns 1,995 shares of the company’s stock worth $48,000 after purchasing an additional 685 shares during the last quarter. Institutional investors own 82.69% of the company’s stock.

Macy’s Stock Up 2.6 %

M stock opened at $19.57 on Tuesday. The firm has a market cap of $5.36 billion, a PE ratio of 7.96 and a beta of 2.16. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.17 and a current ratio of 1.18. The firm’s fifty day moving average is $18.93 and its 200 day moving average is $15.00. Macy’s, Inc. has a one year low of $10.54 and a one year high of $23.19.

Macy’s (NYSE:MGet Free Report) last released its quarterly earnings results on Thursday, November 16th. The company reported $0.21 EPS for the quarter. The company had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.78 billion. Macy’s had a net margin of 2.92% and a return on equity of 19.53%. The firm’s revenue was down 7.1% on a year-over-year basis. During the same quarter last year, the business earned $0.52 earnings per share. On average, research analysts forecast that Macy’s, Inc. will post 3.06 EPS for the current year.

Insider Buying and Selling at Macy’s

In other news, CFO Adrian V. Mitchell sold 57,214 shares of the firm’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $14.63, for a total value of $837,040.82. Following the transaction, the chief financial officer now directly owns 78,386 shares of the company’s stock, valued at $1,146,787.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.52% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on M shares. JPMorgan Chase & Co. boosted their target price on shares of Macy’s from $16.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, November 17th. Telsey Advisory Group boosted their target price on shares of Macy’s from $14.00 to $15.00 and gave the stock a “market perform” rating in a research report on Friday, November 17th. Citigroup raised shares of Macy’s from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $14.00 to $18.00 in a research report on Friday, February 2nd. Finally, Evercore ISI started coverage on shares of Macy’s in a research report on Tuesday, November 7th. They set an “inline” rating and a $13.00 target price on the stock. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.45.

Read Our Latest Research Report on Macy’s

Macy’s Company Profile

(Free Report)

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.

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Institutional Ownership by Quarter for Macy's (NYSE:M)

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