Macy’s Inc (NYSE:M) Director William H. Lenehan purchased 2,092 shares of the company’s stock in a transaction dated Friday, August 17th. The stock was purchased at an average price of $35.78 per share, for a total transaction of $74,851.76. Following the transaction, the director now directly owns 8,060 shares in the company, valued at approximately $288,386.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
NYSE:M opened at $38.24 on Wednesday. The firm has a market capitalization of $11.04 billion, a PE ratio of 9.97, a P/E/G ratio of 1.07 and a beta of 0.79. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.53 and a quick ratio of 0.43. Macy’s Inc has a twelve month low of $17.41 and a twelve month high of $41.99.
Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, August 15th. The company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.20. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.55 billion. Macy’s had a net margin of 6.65% and a return on equity of 23.55%. Macy’s’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.48 EPS. analysts forecast that Macy’s Inc will post 3.95 EPS for the current fiscal year.
A number of research analysts have recently issued reports on the stock. Deutsche Bank boosted their price target on shares of Macy’s from $33.00 to $35.00 and gave the stock a “hold” rating in a research report on Thursday, August 16th. Cowen boosted their price target on shares of Macy’s from $35.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, August 16th. Morgan Stanley boosted their price target on shares of Macy’s from $25.00 to $27.00 and gave the stock an “underweight” rating in a research report on Thursday, August 16th. UBS Group assumed coverage on shares of Macy’s in a research note on Thursday, June 21st. They issued a “neutral” rating and a $39.00 price objective for the company. Finally, Susquehanna Bancshares reiterated a “positive” rating on shares of Macy’s in a research note on Thursday, June 7th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Macy’s has an average rating of “Hold” and an average target price of $33.61.
A number of hedge funds have recently made changes to their positions in M. Baker Ellis Asset Management LLC bought a new stake in Macy’s during the 2nd quarter valued at $112,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in Macy’s during the 2nd quarter valued at $116,000. Point72 Asia Hong Kong Ltd increased its stake in Macy’s by 10,087.2% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 3,973 shares of the company’s stock valued at $118,000 after purchasing an additional 3,934 shares in the last quarter. Harvest Fund Management Co. Ltd increased its stake in Macy’s by 78.4% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 4,067 shares of the company’s stock valued at $120,000 after purchasing an additional 1,787 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in Macy’s during the 2nd quarter valued at $150,000. Institutional investors and hedge funds own 86.04% of the company’s stock.
Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.
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