This activist investor wants luxury condos in Saks Fifth Avenue

Paterniano Del Favero
Agosto 1, 2017

Hudson's Bay Co (TSE:HBC) traded up 1.51% during midday trading on Friday, reaching $10.76.

"If management, which owns approximately 20 per cent of the company's shares, would like to continue its ambition of being a global department store consolidator, a management-led buyout could be an intriguing avenue to pursue for all parties", Litt said. The stock has a 50 day moving average price of $10.68 and a 200 day moving average price of $10.87.

In the letter, Litt called for a full review of capital expenditures and noted that without significant progress in better unlocking the estimated $10 billion in real estate assets on Hudson Bay's balance sheet, he would consider calling a special meeting of shareholders in order to nominate a slate of new board nominees.

Hudson's Bay Co (TSE:HBC) last released its earnings results on Thursday, June 8th. The company reported ($1.19) EPS for the quarter, missing analysts' consensus estimates of ($0.70) by $0.49. The business had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.20 billion. Hudson's Bay Co had a negative return on equity of 37.88% and a negative net margin of 6.90%. On average, equities research analysts expect that Hudson's Bay Co will post ($1.93) earnings per share for the current fiscal year. The correct version of this piece of content can be viewed at https://www.baseball-news-blog.com/2017/07/31/todd-zator-sells-1101-shares-of-hudsons-bay-co-tsehbc-stock-updated-updated-updated.html.

Hudson's Bay Co (TSE:HBC) has received a consensus recommendation of "Hold" from the eleven brokerages that are covering the company, MarketBeat reports. Scotiabank reaffirmed a "sector perform" rating and set a C$14.50 price objective on shares of Hudson's Bay Co in a research report on Wednesday, April 5th. Royal Bank Of Canada raised their price objective on Hudson's Bay Co from C$12.00 to C$13.00 and gave the company a "sector perform" rating in a research report on Thursday, April 6th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Hudson's Bay Co presently has a consensus rating of Hold and a consensus price target of C$13.78.

The investment firm has suggested HBC redevelop its properties in Canada, Europe and the United States, or go private, and urged the company not to invest more in additional retail brands like Neiman Marcus or Macy's.

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