Rhumbline Advisers Sells 6,685 Shares of Macy’s, Inc. (NYSE:M)

Rhumbline Advisers decreased its position in Macy’s, Inc. (NYSE:M) by 0.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 773,890 shares of the company’s stock after selling 6,685 shares during the quarter. Rhumbline Advisers’ holdings in Macy’s were worth $13,102,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC bought a new position in Macy’s in the third quarter worth $35,000. Venturi Wealth Management LLC increased its holdings in shares of Macy’s by 282.7% during the third 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. Huntington National Bank increased its holdings in shares of Macy’s by 937.4% during the third quarter. Huntington National Bank now owns 4,637 shares of the company’s stock valued at $73,000 after acquiring an additional 4,190 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Macy’s by 619.1% during the third quarter. Blue Trust Inc. now owns 4,868 shares of the company’s stock valued at $76,000 after acquiring an additional 4,191 shares in the last quarter. Finally, Tompkins Financial Corp bought a new position in shares of Macy’s during the fourth quarter valued at $102,000. Institutional investors own 87.36% of the company’s stock.

Macy’s Trading Down 5.0 %

Shares of NYSE:M opened at $15.00 on Friday. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 25.42 and a beta of 2.05. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The stock’s 50-day simple moving average is $15.56 and its two-hundred day simple moving average is $15.63. Macy’s, Inc. has a 52-week low of $13.66 and a 52-week high of $22.10.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). The firm had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 earnings per share. Analysts expect that Macy’s, Inc. will post 2.39 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. UBS Group reduced their price target on Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a report on Thursday, December 12th. Morgan Stanley reduced their price target on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, December 12th. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Guggenheim restated a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Finally, Gordon Haskett cut Macy’s from a “buy” rating to an “accumulate” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Macy’s has a consensus rating of “Hold” and a consensus price target of $17.75.

Macy’s Profile

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.