Venator Capital Management Ltd. buys $10,158,878 stake in Macy's (M)

Macy's (M) : Venator Capital Management Ltd. scooped up 55,290 additional shares in Macy's during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 255,120 shares of Macy's which is valued at $10,158,878.Macy's makes up approximately 8.67% of Venator Capital Management Ltd.’s portfolio.

Other Hedge Funds, Including , Invictus Rg reduced its stake in M by selling 3,220 shares or 90.68% in the most recent quarter. The Hedge Fund company now holds 331 shares of M which is valued at $13,180. Macy's makes up approx 0.01% of Invictus Rg’s portfolio. Deimos Asset Management sold out all of its stake in M during the most recent quarter. The investment firm sold 20,000 shares of M which is valued $796,400.Bluemountain Capital Management boosted its stake in M in the latest quarter, The investment management firm added 97,483 additional shares and now holds a total of 100,298 shares of Macy's which is valued at $3,993,866. Macy's makes up approx 0.12% of Bluemountain Capital Management’s portfolio.Moors Cabot boosted its stake in M in the latest quarter, The investment management firm added 756 additional shares and now holds a total of 15,056 shares of Macy's which is valued at $599,379. Macy's makes up approx 0.10% of Moors Cabot’s portfolio.Boston Advisors reduced its stake in M by selling 333,518 shares or 89.46% in the most recent quarter. The Hedge Fund company now holds 39,279 shares of M which is valued at $1,402,260. Macy's makes up approx 0.03% of Boston Advisors’s portfolio.

Macy's opened for trading at $36.32 and hit $36.62 on the upside on Thursday, eventually ending the session at $36.34, with a gain of 0.44% or 0.16 points. The heightened volatility saw the trading volume jump to 67,73,971 shares. Company has a market cap of $11,210 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.

Investors should note that on Aug 26, 2016, Macy's announced a cash dividend of $0.3775. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Oct 3, 2016.

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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