Target Fires Holiday Salvo At These Retailers But Hedge Funds Like The Competition More

Meanwhile, Amazon.com, Inc. (NASDAQ:AMZN) was even more liked by hedge funds from April-to-June. Its stock saw a healthy 16.66% appreciation in the second quarter, but total hedge fund holdings increased by an even greater 24.46% to $10.46 billion, 5.20% of Amazon’s outstanding shares. More hedge funds also wanted a piece of Jeff Bezos’ pie, as there were 103 hedge funds long on the stock by June 30, up by seven from March 31. Ken Fisher’s Fisher Asset Management held 2.49 million Amazon shares by the end of June, up by 2% from the end of March.

If there were seven more hedge funds long Amazon by the end of the second quarter, there were seven less hedge funds long Best Buy Co Inc (NYSE:BBY), bringing the members of this group down to 34. The company’s shares slumped by 13.71% in said period and the total hedge fund investment in the firm sunk by an even greater 20.38%, down to $707.23 million or 6.10% of the firm’s shares. Cliff Asness’ AQR Capital Management held 7.0 million Best Buy shares by the end of June, up by 19% on the quarter.

Macy’s, Inc. (NYSE:M) is last but definitely not least. In fact, among the five stocks we are discussing, it was the most liked by hedge funds in the second quarter. There were 61 hedge funds long Macy’s by June 30, up by six from March 31. They also increased the value of their total holdings by 82.29% to $2.2 billion or 9.70% of the company’s stock, a very bullish sign given the relatively timid 3.94% growth of the stock during the period. Senator Investment Group, led by Doug Silverman and Alexander Klabin, ended June with 6.5 million Macy’s shares, a stake bought in the second quarter.

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