Barington Capital Group Lowers stake in Macy's (M)

Macy's (M) : Barington Capital Group reduced its stake in Macy's by 47.61% during the most recent quarter end. The investment management company now holds a total of 107,400 shares of Macy's which is valued at $4,276,668 after selling 97,600 shares in Macy's , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Macy's makes up approximately 3.67% of Barington Capital Group’s portfolio.

Other Hedge Funds, Including , Cornerstone Capital Management Holdings. reduced its stake in M by selling 6,942 shares or 6.66% in the most recent quarter. The Hedge Fund company now holds 97,331 shares of M which is valued at $3,875,720. Macy's makes up approx 0.03% of Cornerstone Capital Management Holdings.’s portfolio. Prospera Financial Services Inc sold out all of its stake in M during the most recent quarter. The investment firm sold 5,229 shares of M which is valued $186,675. Laurel Grove Capital sold out all of its stake in M during the most recent quarter. The investment firm sold 8,100 shares of M which is valued $285,768. Simplex Trading sold out all of its stake in M during the most recent quarter. The investment firm sold 59,366 shares of M which is valued $2,095,620. Gierl Augustine Investment Management Inc sold out all of its stake in M during the most recent quarter. The investment firm sold 801 shares of M which is valued $28,099.

Macy's opened for trading at $38.64 and hit $39.01 on the upside on Monday, eventually ending the session at $38.69, with a gain of 0.34% or 0.13 points. The heightened volatility saw the trading volume jump to 75,57,057 shares. Company has a market cap of $11,932 M.

On the company’s financial health, Macy's reported $0.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 11, 2016. Analyst had a consensus of $0.48. The company had revenue of $5866.00 million for the quarter, compared to analysts expectations of $5767.08 million. The company’s revenue was down -3.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.64 EPS.

Many Wall Street Analysts have commented on Macy's. Macy's was Downgraded by Macquarie to ” Neutral” on Aug 12, 2016. Company shares were Reiterated by RBC Capital Mkts on Aug 12, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 40 from a previous price target of $35 .Company shares were Reiterated by Telsey Advisory Group on Aug 12, 2016 to “Market Perform”, Firm has raised the Price Target to $ 42 from a previous price target of $36 .

Macy’s Inc. is an omnichannel retail company operating stores Websites (macys.com bloomingdales.com and bluemercury.com) and mobile. As of January 31 2015 the operations of the Company included 823 stores with an area of approximately 147400000 square feet in 45 states of the United States the District of Columbia Guam and Puerto Rico. Of these 823 stores 447 were owned 267 were leased and 109 stores were operated under arrangements where the Company owned the building and leased the land. The Company operates its stores under the names of Macy’s Bloomingdale’s Bloomingdale’s Outlet and Bluemercury. The Company operates 13 Bloomingdale’s outlet stores. Bloomingdale’s in Dubai the United Arab Emirates is operated under a license agreement with Al Tayer Insignia a company of Al Tayer Group LLC.

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