Macy's, Inc. $M Shares Purchased by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Macy's, Inc. by 2.6%, acquiring an additional 73,096 shares, bringing its total ownership to approximately 1.02% valued at $35.79 million.
• Macy's reported a net revenue of $4.60 billion for the last quarter, beating the analysts' consensus estimate of $4.38 billion, although this represented a 5.1% decline compared to the previous year.
• Wall Street analysts hold a mixed perspective on Macy's stock, with a consensus rating of "Hold" and an average price target of $13.22, reflecting cautious optimism amidst varied outlooks.

Charles Schwab Investment Management Inc. increased its position in shares of Macy's, Inc. (NYSE:M - Free Report) by 2.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,849,558 shares of the company's stock after acquiring an additional 73,096 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.02% of Macy's worth $35,790,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Raiffeisen Bank International AG acquired a new position in shares of Macy's in the 4th quarter valued at $111,000. Versant Capital Management Inc boosted its holdings in shares of Macy's by 343.4% in the 1st quarter. Versant Capital Management Inc now owns 9,449 shares of the company's stock valued at $119,000 after purchasing an additional 7,318 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of Macy's in the 1st quarter valued at $142,000. Machina Capital S.A.S. acquired a new position in shares of Macy's in the 1st quarter valued at $146,000. Finally, PFG Investments LLC acquired a new position in shares of Macy's in the 1st quarter valued at $156,000. Institutional investors and hedge funds own 87.36% of the company's stock.

Macy's Trading Up 3.5%

Macy's stock opened at $13.26 on Tuesday. The company has a quick ratio of 0.37, a current ratio of 1.43 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average price of $12.20 and a two-hundred day moving average price of $12.55. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 6.73 and a beta of 1.79. Macy's, Inc. has a 52-week low of $9.76 and a 52-week high of $18.13.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.01. Macy's had a net margin of 2.45% and a return on equity of 16.34%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same period in the previous year, the firm earned $0.27 EPS. Macy's's revenue was down 5.1% on a year-over-year basis. Sell-side analysts expect that Macy's, Inc. will post 2.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley reissued a "negative" rating on shares of Macy's in a research note on Tuesday, May 6th. Barclays assumed coverage on shares of Macy's in a research note on Monday, April 28th. They issued a "cautious" rating and a $12.00 target price on the stock. The Goldman Sachs Group downgraded shares of Macy's from a "buy" rating to a "neutral" rating and cut their target price for the company from $17.00 to $12.00 in a research note on Tuesday, April 22nd. Citigroup reissued a "neutral" rating and issued a $12.00 target price (up previously from $11.00) on shares of Macy's in a research note on Thursday, May 29th. Finally, Telsey Advisory Group cut their target price on shares of Macy's from $15.00 to $14.00 and set a "market perform" rating on the stock in a research note on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target 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.

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