Macy’s, Inc. (NYSE:M – Get Free Report) CFO Adrian V. Mitchell sold 13,249 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $270,544.58. Following the sale, the chief financial officer now directly owns 99,098 shares in the company, valued at approximately $2,023,581.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Macy’s Stock Down 2.8 %
Macy’s stock opened at $19.09 on Wednesday. The company’s 50 day simple moving average is $19.39 and its 200 day simple moving average is $16.27. Macy’s, Inc. has a fifty-two week low of $10.54 and a fifty-two week high of $22.10. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 51.59 and a beta of 2.14. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.39.
Macy’s (NYSE:M – Get Free Report) last announced its earnings results on Tuesday, February 27th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $1.98 by $0.47. The firm had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $8.07 billion. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the company posted $1.88 EPS. As a group, sell-side analysts anticipate that Macy’s, Inc. will post 2.57 EPS for the current year.
Macy’s Increases Dividend
Institutional Trading of Macy’s
Several hedge funds have recently bought and sold shares of M. Point72 Asset Management L.P. raised its holdings in shares of Macy’s by 1,054.0% in the second quarter. Point72 Asset Management L.P. now owns 10,846,841 shares of the company’s stock valued at $174,092,000 after purchasing an additional 9,906,912 shares during the last quarter. Holocene Advisors LP raised its holdings in shares of Macy’s by 171.1% in the second quarter. Holocene Advisors LP now owns 5,582,759 shares of the company’s stock valued at $89,603,000 after purchasing an additional 3,523,368 shares during the last quarter. Norges Bank acquired a new stake in shares of Macy’s in the fourth quarter valued at approximately $62,529,000. Vanguard Group Inc. raised its holdings in shares of Macy’s by 7.8% in the third quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock valued at $422,390,000 after purchasing an additional 2,645,577 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its holdings in shares of Macy’s by 196.2% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 3,453,241 shares of the company’s stock valued at $71,309,000 after purchasing an additional 2,287,287 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
M has been the topic of several recent research reports. StockNews.com initiated coverage on shares of Macy’s in a research note on Saturday. They issued a “hold” rating on the stock. TD Cowen lowered shares of Macy’s from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $23.00 to $20.00 in a research note on Thursday, February 29th. Citigroup raised shares of Macy’s from a “sell” rating to a “neutral” rating and raised their target price for the company from $14.00 to $18.00 in a research note on Friday, February 2nd. Morgan Stanley reduced their target price on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. raised their target price on shares of Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Macy’s has an average rating of “Hold” and a consensus price target of $17.45.
Get Our Latest Research Report on Macy’s
Macy’s Company Profile
Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.
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