Deutsche Bank AG Decreases Position in Macy's, Inc. (NYSE:M)

Key Points

• Deutsche Bank AG reduced its stake in Macy's by 48.7%, selling over 1.2 million shares and owning approximately $16 million worth of the company by the end of the first quarter.
• Recent analyst projections show a downgrade in Macy's stock ratings, with Goldman Sachs lowering its target price from $17.00 to $12.00, and the stock is currently rated as a consensus "Hold" with an average price target of $13.22.
• Macy's stock has seen a slight decrease of 1.2%, trading at $12.81, with a market capitalization of $3.48 billion and a P/E ratio of 6.50.

Deutsche Bank AG cut its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 48.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,279,981 shares of the company's stock after selling 1,215,444 shares during the period. Deutsche Bank AG owned approximately 0.46% of Macy's worth $16,077,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in shares of Macy's by 7.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,751,211 shares of the company's stock valued at $266,666,000 after purchasing an additional 1,149,454 shares during the period. RWC Asset Management LLP acquired a new stake in shares of Macy's in the first quarter valued at about $80,868,000. Junto Capital Management LP acquired a new stake in shares of Macy's in the fourth quarter valued at about $48,775,000. Charles Schwab Investment Management Inc. increased its position in shares of Macy's by 2.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,849,558 shares of the company's stock valued at $35,790,000 after acquiring an additional 73,096 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Macy's by 33.8% in the fourth quarter. Northern Trust Corp now owns 2,707,349 shares of the company's stock valued at $45,835,000 after acquiring an additional 684,602 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors.

Macy's Trading Down 1.2%

Shares of Macy's stock traded down $0.15 during trading on Friday, hitting $12.81. The company's stock had a trading volume of 4,758,826 shares, compared to its average volume of 7,507,154. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.43 and a quick ratio of 0.37. Macy's, Inc. has a 52 week low of $9.76 and a 52 week high of $18.13. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 6.50 and a beta of 1.79. The stock has a 50-day moving average price of $12.18 and a two-hundred day moving average price of $12.59.

Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.01. The business had revenue of $4.60 billion for the quarter, compared to analysts' expectations of $4.38 billion. Macy's had a net margin of 2.45% and a return on equity of 16.34%. The business's quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Equities research analysts anticipate that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on M. Citigroup reiterated a "neutral" rating and set a $12.00 price target (up previously from $11.00) on shares of Macy's in a report on Thursday, May 29th. The Goldman Sachs Group cut Macy's from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $17.00 to $12.00 in a report on Tuesday, April 22nd. Barclays began coverage on Macy's in a report on Monday, April 28th. They set a "cautious" rating and a $12.00 price target for the company. Telsey Advisory Group reduced their price target on Macy's from $15.00 to $14.00 and set a "market perform" rating for the company in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. lifted their price target on Macy's from $12.00 to $16.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Macy's presently has a consensus rating of "Hold" and a consensus target price of $13.22.

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.