Macy’s Inc (M) Director William H. Lenehan Buys 3,154 Shares
Macy’s Inc (NYSE:M) Director William H. Lenehan bought 3,154 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The shares were acquired at an average cost of $31.74 per share, for a total transaction of $100,107.96. Following the purchase, the director now directly owns 11,214 shares in the company, valued at approximately $355,932.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Macy’s stock traded down $0.29 on Monday, reaching $33.01. The company had a trading volume of 816,099 shares, compared to its average volume of 9,982,614. The stock has a market cap of $10.22 billion, a price-to-earnings ratio of 8.76, a price-to-earnings-growth ratio of 0.96 and a beta of 0.62. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.24 and a current ratio of 1.35. Macy’s Inc has a 1 year low of $20.11 and a 1 year high of $41.99.
Macy’s (NYSE:M) last announced its earnings results on Wednesday, November 14th. The company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.13. The firm had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Macy’s had a return on equity of 22.33% and a net margin of 6.72%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 EPS. Sell-side analysts predict that Macy’s Inc will post 4.09 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Princeton Capital Management LLC purchased a new position in Macy’s during the 3rd quarter valued at $104,000. Baker Ellis Asset Management LLC purchased a new position in Macy’s during the 2nd quarter valued at $112,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Macy’s during the 2nd quarter valued at $116,000. First Hawaiian Bank purchased a new position in Macy’s during the 3rd quarter valued at $147,000. Finally, Qube Research & Technologies Ltd purchased a new position in Macy’s during the 2nd quarter valued at $150,000. Hedge funds and other institutional investors own 90.78% of the company’s stock.
A number of analysts have issued reports on M shares. Zacks Investment Research reaffirmed a “hold” rating and issued a $43.00 price objective on shares of Macy’s in a research note on Wednesday, November 14th. Cowen lifted their price objective on Macy’s from $35.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday, August 16th. Royal Bank of Canada set a $39.00 price objective on Macy’s and gave the stock a “hold” rating in a research note on Thursday, August 16th. Goldman Sachs Group started coverage on Macy’s in a research note on Monday, September 3rd. They issued a “sell” rating and a $33.00 price objective on the stock. Finally, Morgan Stanley lifted their price objective on Macy’s from $25.00 to $27.00 and gave the stock an “underweight” rating in a research note on Thursday, August 16th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $34.91.
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Macy’s Company Profile
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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