Macy’s Inc (NYSE:M) Chairman Jeffrey Gennette bought 5,000 shares of Macy’s stock in a transaction on Friday, May 17th. The shares were purchased at an average price of $21.96 per share, for a total transaction of $109,800.00. Following the acquisition, the chairman now directly owns 102,525 shares in the company, valued at approximately $2,251,449. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of M traded down $0.15 during mid-day trading on Tuesday, reaching $21.43. The company had a trading volume of 248,676 shares, compared to its average volume of 9,715,053. The company has a quick ratio of 0.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.19. Macy’s Inc has a 52 week low of $21.08 and a 52 week high of $41.99. The stock has a market cap of $6.69 billion, a P/E ratio of 5.12, a P/E/G ratio of 0.83 and a beta of 0.41.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, May 15th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.11. Macy’s had a return on equity of 20.66% and a net margin of 4.43%. The firm had revenue of $5.50 billion for the quarter, compared to analysts’ expectations of $5.52 billion. During the same period in the previous year, the firm posted $0.48 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. On average, equities analysts anticipate that Macy’s Inc will post 3.11 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 7.05%. Macy’s’s dividend payout ratio is currently 36.12%.

M has been the topic of a number of research analyst reports. Standpoint Research upgraded Macy’s from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Guggenheim reiterated a “buy” rating and set a $30.00 target price on shares of Macy’s in a report on Tuesday, February 26th. OTR Global downgraded Macy’s to a “positive” rating in a report on Wednesday, February 6th. Jefferies Financial Group reiterated a “hold” rating and set a $27.00 target price on shares of Macy’s in a report on Wednesday, February 27th. Finally, ValuEngine downgraded Macy’s from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. Macy’s has an average rating of “Hold” and an average target price of $28.10.

Institutional investors and hedge funds have recently modified their holdings of the company. Private Capital Group LLC lifted its position in Macy’s by 110.1% in the 4th quarter. Private Capital Group LLC now owns 1,002 shares of the company’s stock valued at $30,000 after acquiring an additional 525 shares in the last quarter. Liberty Wealth Management LLC bought a new position in Macy’s in the 4th quarter valued at approximately $34,000. We Are One Seven LLC bought a new position in Macy’s in the 4th quarter valued at approximately $35,000. Avestar Capital LLC lifted its position in Macy’s by 2,168.2% in the 1st quarter. Avestar Capital LLC now owns 1,497 shares of the company’s stock valued at $35,000 after acquiring an additional 1,431 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new position in Macy’s in the 1st quarter valued at approximately $41,000. 90.18% of the stock is currently owned by hedge funds and other institutional investors.

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About Macy’s

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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