Chevy Chase Trust Holdings Inc. Sells 255 Shares of Macy's Inc (M)

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Other institutional investors have also modified their holdings of the company. Americafirst Capital Management LLC raised its stake in Macy's by 169.9% in the first quarter.

For the full year, Macy's expects earnings in the range of $2.90 to $3.15 per share, below the $3.27 per share that analysts expected, according to FactSet. BlackRock Inc. now owns 24,416,816 shares of the company's stock valued at $723,716,000 after buying an additional 23,514,600 shares during the last quarter. Although Macy's also topped expectations, spooked investors - who have grown tired of D-store challenges - may have expected a stronger beat and a raised a guidance from the firm. 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. Creative Planning increased its position in shares of Macy's by 14.3% in the first quarter. Cadence Capital Management LLC now owns 56,820 shares of the company's stock worth $1,684,000 after buying an additional 17,186 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its position in shares of Macy's by 0.8% in the first quarter. Following the completion of the transaction, the director now owns 5,968 shares of the company's stock, valued at approximately $135,592.96.

This proven stock-picking system is grounded on a single big idea that can be fortune shaping and life changing. The company's 50 day moving average price is $22.93 and its 200-day moving average price is $26.98. Macy's also saw unusually large options trading on Wednesday. Stock investors acquired 33,975 call options on the company. This represents an increase of approximately 489% compared to the average volume of 5,766 call options. The company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.45 by $0.03. Macy's had a return on equity of 6.60% and a net margin of 1.31%. Net sales in the quarter were $5.55 billion compared with $5.87 billion in the prior-year period.

On the bottom line, adjusted earnings per share slipped from $0.54 to $0.48, still topping expectations at $0.46. "Though transactions for the quarter were lower than a year ago, July transactions increased".

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M has been the topic of several recent research reports. 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. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share. Jefferies Group LLC dropped their price objective on shares of Macy's from $27.00 to $24.00 and set a "hold" rating for the company in a research note on Friday, June 9th.

"Investors want more sustainable evidence of why these businesses can survive in today's world", said Charles Grom, an analyst with Gordon Haskett Research Advisors. They issued a "hold" rating and a $29.00 target price on the stock.

In other Macy's news, Director William H. Lenehan bought 4,390 shares of the business's stock in a transaction that occurred on Thursday, June 15th. The stock was bought at an average price of $22.72 per share, with a total value of $99,740.80. 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 during the last quarter.

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