Brookstone Capital Management Cuts Holdings in Macy's Inc (M)
Brookstone Capital Management lessened its holdings in shares of Macy's Inc (NYSE:M) by 6.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 223,657 shares of the company’s stock after selling 15,718 shares during the quarter. Brookstone Capital Management’s holdings in Macy's were worth $5,634,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Douglas Lane & Associates LLC boosted its position in Macy's by 57.8% during the third quarter. Douglas Lane & Associates LLC now owns 2,243,096 shares of the company’s stock worth $48,944,000 after purchasing an additional 821,366 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Macy's by 75.3% in the third quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company’s stock worth $109,392,000 after buying an additional 2,153,110 shares in the last quarter. Benchmark Capital Advisors purchased a new stake in shares of Macy's in the third quarter worth about $1,335,000. Empirical Finance LLC purchased a new stake in shares of Macy's in the third quarter worth about $1,221,000. Finally, Sanders Morris Harris LLC lifted its holdings in shares of Macy's by 28.2% in the third quarter. Sanders Morris Harris LLC now owns 296,900 shares of the company’s stock worth $6,478,000 after buying an additional 65,300 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Macy's from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Wednesday, January 10th. BMO Capital Markets set a $38.00 price target on shares of Macy's and gave the stock a “buy” rating in a report on Friday, January 5th. OTR Global raised shares of Macy's to a “sell” rating in a report on Monday, December 18th. ValuEngine downgraded shares of Macy's from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Telsey Advisory Group increased their price target on shares of Macy's from $25.00 to $28.00 and gave the stock a “market perform” rating in a report on Thursday, December 28th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $26.07.
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Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
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