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.
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.
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.
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