Macy’s Inc. (NYSE:M) Chairman Jeffrey Gennette acquired 10,000 shares of Macy’s stock in a transaction on Thursday, April 12th. The shares were purchased at an average price of $29.10 per share, with a total value of $291,000.00. Following the completion of the purchase, the chairman now owns 89,303 shares in the company, valued at approximately $2,598,717.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
M opened at $28.26 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.45 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $8,808.72, a P/E ratio of 7.50, a price-to-earnings-growth ratio of 0.94 and a beta of 0.75. Macy’s Inc. has a 12-month low of $17.41 and a 12-month high of $31.04.
Macy’s (NYSE:M) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. The company had revenue of $8.67 billion for the quarter, compared to the consensus estimate of $8.70 billion. Macy’s had a net margin of 6.23% and a return on equity of 24.93%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.02 earnings per share. equities research analysts predict that Macy’s Inc. will post 3.63 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Thursday, March 15th were issued a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date of this dividend was Wednesday, March 14th. Macy’s’s payout ratio is 40.05%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Kistler Tiffany Companies LLC lifted its holdings in Macy’s by 31.3% during the fourth quarter. Kistler Tiffany Companies LLC now owns 8,900 shares of the company’s stock valued at $224,000 after purchasing an additional 2,120 shares in the last quarter. Advisory Services Network LLC lifted its holdings in Macy’s by 18.1% during the fourth quarter. Advisory Services Network LLC now owns 14,696 shares of the company’s stock valued at $370,000 after purchasing an additional 2,253 shares in the last quarter. CapWealth Advisors LLC lifted its holdings in Macy’s by 1.0% during the fourth quarter. CapWealth Advisors LLC now owns 256,310 shares of the company’s stock valued at $6,456,000 after purchasing an additional 2,500 shares in the last quarter. Wealthsource Partners LLC lifted its holdings in Macy’s by 16.6% during the third quarter. Wealthsource Partners LLC now owns 18,780 shares of the company’s stock valued at $410,000 after purchasing an additional 2,675 shares in the last quarter. Finally, Enterprise Financial Services Corp lifted its holdings in Macy’s by 102.4% during the fourth quarter. Enterprise Financial Services Corp now owns 5,348 shares of the company’s stock valued at $135,000 after purchasing an additional 2,706 shares in the last quarter. 86.88% of the stock is currently owned by institutional investors.
A number of brokerages have recently issued reports on M. TheStreet raised shares of Macy’s from a “c+” rating to a “b-” rating in a report on Wednesday, March 28th. Morgan Stanley raised their price target on shares of Macy’s from $23.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, February 28th. Gordon Haskett raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Thursday, March 1st. BMO Capital Markets raised their price target on shares of Macy’s from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, March 1st. Finally, ValuEngine raised shares of Macy’s from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Macy’s presently has an average rating of “Hold” and an average price target of $26.60.
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Macy’s Company Profile
Macy's, Inc, together with its subsidiaries, operates stores, Websites, and mobile applications. Its stores and Websites sell a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. The company also operates stores that offer a range of women's, men's, and children's apparel; shoes; fashion accessories; housewares; home textiles; intimate apparel; and jewelry.
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