Published: Fri, August 11, 2017
Money | By Armando Alvarado

Parkwood LLC Has $579000 Stake in Macy's Inc (NYSE:M)

Parkwood LLC Has $579000 Stake in Macy's Inc (NYSE:M)

The firm now has a "hold" rating on the stock. Wunderlich reiterated a "buy" rating and set a $24.00 target price on shares of Macy's in a research note on Friday, May 5th. Wedbush reaffirmed a hold rating on shares of Macy's in a research note on Monday, July 31st. Telsey Advisory Group lowered their target price on Macy's from $30.00 to $25.00 and set an "outperform" rating on the stock in a report on Wednesday, June 7th. Finally, Gordon Haskett assumed coverage on shares of Macy's in a report on Tuesday, May 9th.

Other retailers reported their second-quarter results and have since seen their stock prices fall. Macy's has an average rating of Hold and an average target price of $32.11.

Shares of Macy's (M) traded down 8.99% during midday trading on Tuesday, reaching $20.96. Dillard's shares were down almost 14 percent to $63.35 in early trades Thursday. The company's 50 day moving average price is $22.93 and its 200-day moving average price is $26.98. Traders acquired 33,975 call options on the stock. This represents an increase of approximately 489% compared to the typical daily volume of 5,766 call options.

Shares of Macy's Inc. and Kohl's Corp. tumbled on Thursday as the two department store chains again reported a drop in quarterly same-store sales, stoking concerns that their turnaround may still be a long way off. The company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.36 by $0.12. The company had revenue of $5.34 billion for the quarter, compared to analysts' expectations of $5.49 billion. Macy's had a return on equity of 22.37% and a net margin of 2.26%.

The company said sales fell 2.8 percent at established stores during the second quarter, which was better than the 3.3 percent drop that Wall Street analysts expected, according to FactSet. UBS Asset Management Americas Inc. increased its stake in shares of Macy's by 2.5% in the fourth quarter. On average, equities research analysts expect that Macy's Inc will post $3.29 earnings per share for the current year.

Jeffrey Lord ousted from CNN for Nazi salute
Lord's time at CNN has been marked with controversy since he became one of the more outspoken pro-Trump voices on the network. CNN has fired contributor Jeffrey Lord after the commentator tweeted a Nazi salute, the cable news channel said on Thursday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move.

TRADEMARK VIOLATION WARNING: This article was first posted by Chaffey Breeze and is owned by of Chaffey Breeze. Also, Director William H. Lenehan bought 4,390 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were acquired at an average cost of $22.72 per share, for a total transaction of $99,740.80. Following the completion of the acquisition, the director now directly owns 5,968 shares in the company, valued at $135,592.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. The stock was purchased at an average price of $22.95 per share, for a total transaction of $300,300.75. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company's stock.

The largest department store in the USA has grappled with the exodus of today's shoppers to online rivals such as Amazon.com, which in 2017 has eclipsed Macy's as an apparel retailer. Americafirst Capital Management LLC now owns 9,558 shares of the company's stock valued at $283,000 after buying an additional 6,017 shares during the last quarter.

However, Macy's has been hit by the weakness in the overall apparel industry, its largest category, and merchandise that is the same across its department stores, which forces it to resort to hefty discounting. First Manhattan Co. boosted its stake in shares of Macy's by 0.6% in the first quarter. Ropes Wealth Advisors LLC now owns 4,806 shares of the company's stock valued at $142,000 after buying an additional 1,866 shares in the last quarter. The fund owned 262,877 shares of the company's stock after selling 255 shares during the period. OppenheimerFunds Inc. raised its position in shares of Macy's by 114.2% in the first quarter. Corporate insiders own 1.40% of the company's stock.

Like this: