Insider Selling: Macy’s Inc (NYSE:M) CFO Sells $25,325.70 in Stock
Macy’s Inc (NYSE:M) CFO Paula A. Price sold 1,189 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $21.30, for a total transaction of $25,325.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of M opened at $21.91 on Friday. The stock has a 50 day simple moving average of $21.34. The firm has a market cap of $6.61 billion, a PE ratio of 5.31, a P/E/G ratio of 0.92 and a beta of 0.54. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.42 and a quick ratio of 0.32. Macy’s Inc has a 12-month low of $20.02 and a 12-month high of $41.99.
Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, May 15th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.11. The company had revenue of $5.50 billion for the quarter, compared to analysts’ expectations of $5.52 billion. Macy’s had a net margin of 4.43% and a return on equity of 20.66%. The business’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS. On average, equities research analysts forecast that Macy’s Inc will post 3.12 earnings per share for the current fiscal year.
M has been the topic of several research analyst reports. Deutsche Bank raised their target price on shares of Macy’s from $27.00 to $28.00 and gave the company a “hold” rating in a research note on Thursday, May 16th. Goldman Sachs Group set a €28.60 ($33.26) target price on shares of Hapag-Lloyd and gave the company a “neutral” rating in a research note on Thursday, May 16th. UBS Group set a $25.00 target price on shares of Macy’s and gave the company a “hold” rating in a research note on Friday, May 17th. Standpoint Research raised shares of GAP from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Finally, Zacks Investment Research cut shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. Macy’s currently has a consensus rating of “Hold” and a consensus target price of $26.58.
Institutional investors and hedge funds have recently made changes to their positions in the company. Horizon Investments LLC acquired a new position in shares of Macy’s in the 1st quarter worth approximately $2,288,000. Cognios Capital LLC grew its stake in shares of Macy’s by 40.4% in the 1st quarter. Cognios Capital LLC now owns 93,052 shares of the company’s stock worth $2,235,000 after purchasing an additional 26,792 shares during the last quarter. QV Investors Inc. grew its stake in shares of Macy’s by 1.2% in the 1st quarter. QV Investors Inc. now owns 621,935 shares of the company’s stock worth $14,945,000 after purchasing an additional 7,510 shares during the last quarter. HCR Wealth Advisors acquired a new position in shares of Macy’s in the 1st quarter worth approximately $17,350,000. Finally, Destination Wealth Management grew its stake in shares of Macy’s by 27.1% in the 1st quarter. Destination Wealth Management now owns 2,344 shares of the company’s stock worth $56,000 after purchasing an additional 500 shares during the last quarter. 87.23% of the stock is currently owned by institutional investors.
Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.
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