Macy’s Inc. (M) Director Sells $840,000.00 in Stock
Macy’s Inc. (NYSE:M) Director Craig Weatherup sold 20,000 shares of the stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the transaction, the director now directly owns 16,000 shares in the company, valued at $672,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Macy’s Inc. (NYSE:M) traded down 0.68% during mid-day trading on Wednesday, hitting $42.20. 6,986,474 shares of the stock traded hands. Macy’s Inc. has a one year low of $29.94 and a one year high of $45.50. The stock has a market cap of $12.90 billion, a PE ratio of 19.21 and a beta of 0.77. The stock has a 50-day moving average of $38.80 and a 200 day moving average of $36.04.
Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, November 10th. The company reported $0.17 earnings per share 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 return on equity of 24.83% and a net margin of 2.63%. The company’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.56 earnings per share. Equities analysts predict that Macy’s Inc. will post $3.29 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th will be issued a dividend of $0.3775 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $1.51 annualized dividend and a dividend yield of 3.58%. Macy’s’s payout ratio is currently 69.27%.
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M has been the subject of several recent analyst reports. Vetr upgraded shares of Macy’s from a “buy” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research report on Monday, October 17th. Citigroup Inc. upgraded shares of Macy’s from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $35.42 to $44.00 in a research report on Wednesday, September 14th. Guggenheim initiated coverage on shares of Macy’s in a research report on Friday, September 30th. They set a “buy” rating and a $45.00 price objective for the company. Zacks Investment Research cut shares of Macy’s from a “buy” rating to a “hold” rating in a research report on Monday, October 24th. Finally, Credit Suisse Group AG cut shares of Macy’s from an “outperform” rating to a “neutral” rating and set a $40.00 price objective for the company. in a research report on Wednesday, September 28th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $42.92.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Washington Trust Bank increased its stake in Macy’s by 11.2% in the third quarter. Washington Trust Bank now owns 2,947 shares of the company’s stock worth $109,000 after buying an additional 297 shares during the period. Global X Management Co. LLC increased its stake 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 worth $118,000 after buying an additional 1,577 shares during the period. Americafirst Capital Management LLC acquired a new stake in Macy’s during the second quarter worth about $133,000. Acadian Asset Management LLC increased its stake 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 worth $178,000 after buying an additional 4,722 shares during the period. Finally, Advisory Services Network LLC increased its stake in Macy’s by 13.3% in the second quarter. Advisory Services Network LLC now owns 4,800 shares of the company’s stock worth $161,000 after buying an additional 565 shares during the period. Institutional investors and hedge funds own 85.30% of the company’s stock.
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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