Macy's Inc (M) Updates FY18 Earnings Guidance

Share

The world didn't end for Macy's (M) in the second quarter despite Amazon's (AMZN) growing reach. 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 department store operator reported a $128 million charge a year ago for store closures.

Other hedge funds have also recently modified their holdings of the company. Finally, Americafirst Capital Management LLC increased its position in shares of Macy's by 169.9% in the first quarter. Vanguard Group Inc. now owns 29,994,367 shares of the company's stock valued at $889,033,000 after buying an additional 825,309 shares during the last quarter. Macy's, which is in the process of closing 100 stores, said Thursday it expects same-store sales to decline about 2.5% in the third quarter. Winslow Evans & Crocker Inc. now owns 5,530 shares of the company's stock valued at $164,000 after buying an additional 3,910 shares in the last quarter.

Macy's, Kohl's and Dillard's all said Thursday that a key sales figure fell again in the latest quarter as customers increasingly shop online, at discount stores and elsewhere. Financial Architects Inc now owns 5,850 shares of the company's stock valued at $136,000 after buying an additional 4,200 shares in the last quarter. First Manhattan Co. boosted its stake in shares of Macy's by 0.6% in the first quarter. TB Alternative Assets Ltd. bought a new position in shares of Macy's during the first quarter worth about $5,421,000. Following the completion of the transaction, the director now owns 5,968 shares of the company's stock, valued at approximately $135,592.96. 39,443,991 shares of the stock were exchanged. Macy's Inc has a 1-year low of $20.85 and a 1-year high of $45.41. The stock has a market capitalization of $7.01 billion, a PE ratio of 12.42 and a beta of 0.84. The stock's 50-day moving average is $22.93 and its 200-day moving average is $26.98. Macy's also saw unusually large options trading activity on Wednesday. Stock traders acquired 33,975 call options on the stock. This represents an increase of approximately 489% compared to the average volume of 5,766 call options. The company reported $0.48 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.45 by $0.03. Macy's's quarterly revenue was down 5.4% compared to the same quarter a year ago. The firm's quarterly revenue was down 7.5% on a year-over-year basis. On average, equities analysts forecast that Macy's Inc will post $3.29 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This article was originally published by BNB Daily and is the property of of BNB Daily. The legal version of this story can be viewed at https://baseballnewssource.com/markets/chevy-chase-trust-holdings-inc-sells-255-shares-of-macys-inc-m-updated-updated/1260283.html.

Shares of Macy's Inc (M) traded down 8.706% on Thursday, hitting $21.025. Vetr raised shares of Macy's from a "buy" rating to a "strong-buy" rating and set a $26.51 price objective on the stock in a report on Wednesday, August 2nd.

NYPD officer shot in Brooklyn; suspect barricaded in building with rifle
Heavily armored police and a number of ambulances are in the area, and a number of blocks have been closed. When the officer approached the bedroom in the rear of the house, the suspect fired shots at the officer.

Majority Believe Current Congress Is A Failure
The margin of sampling error for results among the full sample is plus or minus 3.6 percentage points, it is larger for subgroups. His voters said they would have divided evenly between Democrat Bill Clinton and Republican President George H.W.

Overwatch Deathmatch Mode Revealed
So, where will you be playing these new modes? Players will be able to play both Team Deathmatch and Free-For-All Deathmatch . The FFA deathmatch mode will also receive an exclusive map set in Widowmaker's family estate in France.

Kohl's (KSS) reported earnings of $1.24 per share, beating the Zacks Consensus Estimate of $1.19 and up 49% from the year-ago period.

Year over year, Macy's sales totaled $10.89 billion, down 6.4 percent from total sales of $11.63 billion in the first half of 2016. Bank of America Corporation cut their price objective on shares of Macy's from $31.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, June 9th.

A number of research analysts have commented on M shares. Macy's has an average rating of Hold and an average target price of $32.11.

In related news, Director William H. Lenehan purchased 4,390 shares of the business's stock in a transaction that occurred on Thursday, June 15th. The shares were bought at an average cost of $22.72 per share, with a total value of $99,740.80.

Share