Clearline Capital Lp Lowers stake in Macy's (M)

Macy's (M) : Clearline Capital Lp reduced its stake in Macy's by 48.65% during the most recent quarter end. The investment management company now holds a total of 267,684 shares of Macy's which is valued at $11,124,947 after selling 253,630 shares in Macy's , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Macy's makes up approximately 3.60% of Clearline Capital Lp’s portfolio.

Other Hedge Funds, Including , First Foundation Advisors sold out all of its stake in M during the most recent quarter. The investment firm sold 13,618 shares of M which is valued $565,964.Whittier Trust Co boosted its stake in M in the latest quarter, The investment management firm added 1,375 additional shares and now holds a total of 10,251 shares of Macy's which is valued at $415,473. Macy's makes up approx 0.02% of Whittier Trust Co’s portfolio.Cadence Bank Na boosted its stake in M in the latest quarter, The investment management firm added 52,464 additional shares and now holds a total of 84,289 shares of Macy's which is valued at $3,416,233. Macy's makes up approx 1.55% of Cadence Bank Na’s portfolio. Mork Capital Management sold out all of its stake in M during the most recent quarter. The investment firm sold 15,000 shares of M which is valued $607,950. Vaughan David Investments Incil sold out all of its stake in M during the most recent quarter. The investment firm sold 17,813 shares of M which is valued $683,663.

Macy's closed down -0.02 points or -0.05% at $43.03 with 50,55,445 shares getting traded on Monday. Post opening the session at $42.72, the shares hit an intraday low of $41.955 and an intraday high of $43.22 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Macy's reported $0.17 EPS for the quarter, missing the analyst consensus estimate by $ -0.24 based on the information available during the earnings call on Nov 10, 2016. Analyst had a consensus of $0.41. The company had revenue of $5626.00 million for the quarter, compared to analysts expectations of $5633.54 million. The company’s revenue was down -4.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.56 EPS.

Investors should note that on Oct 28, 2016, Macy's announced a cash dividend of $0.3775. The company’s management has announced Dec 13, 2016 as the ex-dividend date and fixed the record date on Dec 15, 2016. The payable date has been fixed on Jan 3, 2017.

Many Wall Street Analysts have commented on Macy's. Company shares were Upgraded by Deutsche Bank on Oct 31, 2016 to ” Buy”, Firm has raised the Price Target to $ 45 from a previous price target of $40 .Macy's was Initiated by Guggenheim to “Buy” on Sep 30, 2016. Macy's was Downgraded by Credit Suisse to ” Neutral” on Sep 28, 2016.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Macy's - Is it time to Sell?

Top Brokerage Firms are advising their investors on Macy's. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.