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.

Insider Buying and Selling by Quarter for Macy`s (NYSE:M)

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%.

TRADEMARK VIOLATION WARNING: This news story was first published by Financial Market News and is owned by of Financial Market News. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of United States & international copyright laws. The correct version of this news story can be read at http://www.financial-market-news.com/macys-inc-m-director-sells-840000-00-in-stock/1211165/.

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.

About Macy’s

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.

5 Day Chart for NYSE:M

Receive News & Ratings for Macy's Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's Inc. and related companies with MarketBeat.com's FREE daily email newsletter.