Entropy Technologies LP Takes Position in Macy’s, Inc. (NYSE:M)

Entropy Technologies LP purchased a new position in shares of Macy’s, Inc. (NYSE:M) during the 4th quarter, Holdings Channel.com reports. The fund purchased 113,497 shares of the company’s stock, valued at approximately $1,922,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in M. Charles Schwab Investment Management Inc. increased its holdings in Macy’s by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock valued at $41,765,000 after buying an additional 118,626 shares during the last quarter. FMR LLC lifted its position in Macy’s by 4.4% in the third quarter. FMR LLC now owns 4,691,591 shares of the company’s stock worth $73,611,000 after purchasing an additional 195,880 shares during the period. Virtu Financial LLC bought a new position in Macy’s during the third quarter valued at about $594,000. HB Wealth Management LLC grew its stake in shares of Macy’s by 724.1% in the 4th quarter. HB Wealth Management LLC now owns 103,584 shares of the company’s stock worth $1,754,000 after purchasing an additional 91,015 shares during the last quarter. Finally, Alerus Financial NA acquired a new stake in shares of Macy’s during the 3rd quarter valued at $2,144,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Macy’s Stock Down 2.3 %

NYSE M opened at $14.27 on Monday. Macy’s, Inc. has a 1-year low of $13.66 and a 1-year high of $22.10. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The stock’s 50 day moving average is $15.87 and its two-hundred day moving average is $15.72. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 24.18 and a beta of 2.05.

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 analysts’ consensus estimates of $0.07 by ($0.03). The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates 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 last year, the business earned $0.21 EPS. Equities analysts forecast that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

M has been the subject of several recent analyst reports. Benchmark upgraded shares of Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. 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. StockNews.com lowered Macy’s from a “buy” rating to a “hold” rating in a report on Thursday. Morgan Stanley decreased their price target on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, December 12th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $17.00 price objective on shares of Macy’s in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.75.

About Macy’s

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.