Byrne Asset Management LLC Sells 4,985 Shares of Macy’s, Inc. (NYSE:M)

Byrne Asset Management LLC cut its stake in shares of Macy’s, Inc. (NYSE:M) by 25.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,900 shares of the company’s stock after selling 4,985 shares during the quarter. Byrne Asset Management LLC’s holdings in Macy’s were worth $252,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Quest Partners LLC bought a new stake in Macy’s in the 3rd quarter worth about $35,000. Venturi Wealth Management LLC lifted its position in 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 purchasing an additional 1,685 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in Macy’s in the third quarter worth approximately $39,000. Huntington National Bank boosted its holdings in 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 during the last quarter. Finally, Blue Trust Inc. grew its position in Macy’s by 619.1% in the 3rd quarter. Blue Trust Inc. now owns 4,868 shares of the company’s stock worth $76,000 after purchasing an additional 4,191 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Macy’s Stock Performance

NYSE M opened at $14.27 on Friday. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. Macy’s, Inc. has a twelve month low of $13.66 and a twelve month high of $22.10. The business has a 50-day moving average price of $15.87 and a 200-day moving average price of $15.73. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 24.18 and a beta of 2.06.

Macy’s (NYSE:M) last posted its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 earnings per share. As a group, equities research analysts predict that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on M. Gordon Haskett upgraded Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Monday, December 16th. UBS Group dropped their target price on Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a research report on Thursday, December 12th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $17.00 price target on shares of Macy’s in a research report on Tuesday, January 14th. JPMorgan Chase & Co. dropped their price objective on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, StockNews.com cut shares of Macy’s from a “buy” rating to a “hold” rating in a report on Thursday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $17.75.

Macy’s Company 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.