Macys INC (M) Shareholder J Goldman & Company LP Has Cut Its Holding by $33.40 Million

October 2, 2018 - By Ruchi Gupta

Macy's, Inc. (NYSE:M) Logo

J Goldman & Company Lp decreased its stake in Macys Inc (M) by 58.84% based on its latest 2018Q2 regulatory filing with the SEC. J Goldman & Company Lp sold 902,791 shares as the company’s stock declined 5.16% while stock markets rallied. The hedge fund held 631,550 shares of the department and specialty retail stores company at the end of 2018Q2, valued at $23.64 million, down from 1.53 million at the end of the previous reported quarter. J Goldman & Company Lp who had been investing in Macys Inc for a number of months, seems to be less bullish one the $10.66B market cap company. The stock decreased 0.06% or $0.02 during the last trading session, reaching $34.71. About 4.18M shares traded. Macy's, Inc. (NYSE:M) has risen 63.77% since October 2, 2017 and is uptrending. It has outperformed by 48.15% the S&P500.

J Goldman & Company Lp, which manages about $1.17B and $1.94 billion US Long portfolio, upped its stake in Nielsen Hldgs Plc (Put) by 325,000 shares to 360,000 shares, valued at $11.14M in 2018Q2, according to the filing. It also increased its holding in Golden Entmt Inc by 837,201 shares in the quarter, for a total of 912,201 shares, and has risen its stake in Mastec Inc (NYSE:MTZ).

Analysts await Macy's, Inc. (NYSE:M) to report earnings on November, 8. They expect $0.13 EPS, down 43.48 % or $0.10 from last year’s $0.23 per share. M’s profit will be $39.91M for 66.75 P/E if the $0.13 EPS becomes a reality. After $0.59 actual EPS reported by Macy's, Inc. for the previous quarter, Wall Street now forecasts -77.97 % negative EPS growth.

Another recent and important Macy's, Inc. (NYSE:M) news was published by Seekingalpha.com which published an article titled: “Online fashion player Revolve files for IPO” on October 01, 2018.

Macy's, Inc. (NYSE:M) Ratings Coverage

Among 9 analysts covering Macy’s (NYSE:M), 1 have Buy rating, 2 Sell and 6 Hold. Therefore 11% are positive. Macy’s had 13 analyst reports since May 10, 2018 according to SRatingsIntel. The rating was maintained by Morgan Stanley on Thursday, August 16 with “Underweight”. As per Thursday, August 16, the company rating was maintained by Deutsche Bank. Morgan Stanley downgraded the stock to “Underweight” rating in Thursday, May 10 report. The stock of Macy's, Inc. (NYSE:M) has “Positive” rating given on Tuesday, May 22 by Susquehanna. Cowen & Co maintained the stock with “Market Perform” rating in Thursday, August 16 report. The company was downgraded on Monday, June 11 by CFRA. The firm has “Neutral” rating given on Wednesday, June 6 by Atlantic Securities. The company was downgraded on Friday, August 10 by Standpoint Research.

Macy's, Inc. (NYSE:M) Institutional Positions Chart

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