Jeffrey Gennette Purchases 10,000 Shares of Macy’s Inc. (M) Stock

Macy’s Inc. (NYSE:M) Chairman Jeffrey Gennette purchased 10,000 shares of the company’s stock in a transaction on Thursday, April 12th. The shares were purchased at an average cost of $29.10 per share, with a total value of $291,000.00. Following the transaction, the chairman now directly owns 89,303 shares in the company, valued at $2,598,717.30. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of Macy’s stock opened at $28.26 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.47 and a quick ratio of 0.45. The stock 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 1 year low of $17.41 and a 1 year high of $31.04.

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Macy’s (NYSE:M) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.71 by $0.11. The company had revenue of $8.67 billion during the quarter, compared to analyst estimates of $8.70 billion. Macy’s had a net margin of 6.23% and a return on equity of 24.93%. Macy’s’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the business earned $2.02 EPS. equities research analysts expect that Macy’s Inc. will post 3.63 earnings per share for the current fiscal year.



The firm also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Thursday, March 15th were paid a $0.3775 dividend. The ex-dividend date was Wednesday, March 14th. This represents a $1.51 annualized dividend and a dividend yield of 5.34%. Macy’s’s payout ratio is 40.05%.

Several brokerages have weighed in on M. Zacks Investment Research raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Wednesday, January 10th. TheStreet upgraded shares of Macy’s from a “c+” rating to a “b-” rating in a report on Wednesday, March 28th. Royal Bank of Canada set a $26.00 price objective on shares of Macy’s and gave the stock a “hold” rating in a report on Friday, January 19th. ValuEngine upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Jefferies Group restated a “hold” rating on shares of Macy’s in a report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Macy’s has a consensus rating of “Hold” and a consensus price target of $26.60.

Several institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. increased its stake in Macy’s by 27.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 13,997 shares of the company’s stock valued at $353,000 after purchasing an additional 3,055 shares in the last quarter. Xact Kapitalforvaltning AB increased its stake in Macy’s by 7.1% during the 4th quarter. Xact Kapitalforvaltning AB now owns 53,586 shares of the company’s stock valued at $1,350,000 after purchasing an additional 3,568 shares in the last quarter. Delek Group Ltd. bought a new stake in Macy’s during the 4th quarter valued at about $7,414,000. Sawtooth Solutions LLC bought a new stake in Macy’s during the 4th quarter valued at about $1,064,000. Finally, Edmonds Duncan Registered Investment Advisors LLC bought a new stake in Macy’s during the 4th quarter valued at about $243,000. Institutional investors own 86.88% of the company’s stock.

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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.

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

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