Macy’s Inc. (M) Director Sells $840,000.00 in Stock
Macy’s Inc. (NYSE:M) Director Craig Weatherup sold 20,000 shares of Macy’s stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $42.00, for a total transaction of $840,000.00. Following the transaction, the director now owns 16,000 shares in the company, valued at approximately $672,000. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Macy’s Inc. (NYSE:M) traded down 0.68% during midday trading on Wednesday, reaching $42.20. 6,986,474 shares of the company’s stock traded hands. The company has a market capitalization of $12.90 billion, a price-to-earnings ratio of 19.21 and a beta of 0.77. The firm’s 50-day moving average is $38.80 and its 200-day moving average is $36.04. Macy’s Inc. has a 1-year low of $29.94 and a 1-year high of $45.50.
Macy’s (NYSE:M) last posted its quarterly earnings data on Thursday, November 10th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by $0.24. The company had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.65 billion. Macy’s had a net margin of 2.63% and a return on equity of 24.83%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.56 earnings per share. Analysts forecast that Macy’s Inc. will post $3.29 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 15th will be issued a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Tuesday, December 13th. Macy’s’s payout ratio is 69.27%.
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Several brokerages have recently weighed in on M. Vetr upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $46.08 price target on the stock in a research note on Wednesday. BMO Capital Markets restated an “outperform” rating and set a $45.00 target price (down previously from $51.00) on shares of Macy’s in a research note on Wednesday. Zacks Investment Research upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Wednesday, November 2nd. Goldman Sachs Group Inc. lifted their target price on shares of Macy’s from $34.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, August 12th. Finally, Telsey Advisory Group lifted their target price on shares of Macy’s from $36.00 to $42.00 and gave the company a “market perform” rating in a research note on Friday, August 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and ten have given a buy rating to the stock. Macy’s has a consensus rating of “Hold” and an average price target of $42.92.
A number of institutional investors have recently bought and sold shares of the stock. Washington Trust Bank increased its position in Macy’s by 11.2% in the third quarter. Washington Trust Bank now owns 2,947 shares of the company’s stock valued at $109,000 after buying an additional 297 shares during the last quarter. Global X Management Co. LLC increased its position in Macy’s by 98.4% in the third quarter. Global X Management Co. LLC now owns 3,180 shares of the company’s stock valued at $118,000 after buying an additional 1,577 shares during the last quarter. Americafirst Capital Management LLC bought a new position in Macy’s during the second quarter valued at about $133,000. Acadian Asset Management LLC increased its position in Macy’s by 6,650.7% in the third quarter. Acadian Asset Management LLC now owns 4,793 shares of the company’s stock valued at $178,000 after buying an additional 4,722 shares during the last quarter. Finally, Advisory Services Network LLC increased its position in Macy’s by 13.3% in the second quarter. Advisory Services Network LLC now owns 4,800 shares of the company’s stock valued at $161,000 after buying an additional 565 shares during the last quarter. 85.30% of the stock is currently owned by institutional investors and hedge funds.
Macy’s Company Profile
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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