Macy’s Inc (NYSE:M) Director William H. Lenehan Buys 3,154 Shares

Macy’s Inc (NYSE:M) Director William H. Lenehan acquired 3,154 shares of Macy’s stock in a transaction that occurred on Friday, November 16th. The shares were purchased at an average cost of $31.74 per share, with a total value of $100,107.96. Following the completion of the acquisition, the director now owns 11,214 shares of the company’s stock, valued at approximately $355,932.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

M stock traded down $1.93 during trading on Wednesday, reaching $32.42. 8,617,618 shares of the stock traded hands, compared to its average volume of 9,889,946. Macy’s Inc has a 52-week low of $22.47 and a 52-week high of $41.99. The company has a current ratio of 1.35, a quick ratio of 0.24 and a debt-to-equity ratio of 0.97. The company has a market cap of $10.50 billion, a PE ratio of 8.60, a price-to-earnings-growth ratio of 0.99 and a beta of 0.56.

Macy’s (NYSE:M) last posted its quarterly earnings results on Wednesday, November 14th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.13. Macy’s had a return on equity of 22.33% and a net margin of 6.72%. The firm had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the previous year, the business earned $0.23 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts forecast that Macy’s Inc will post 4.08 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be given a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend is Thursday, December 13th. Macy’s’s dividend payout ratio (DPR) is presently 40.05%.

A number of hedge funds have recently bought and sold shares of M. AQR Capital Management LLC boosted its position in shares of Macy’s by 88.7% in the third quarter. AQR Capital Management LLC now owns 11,960,108 shares of the company’s stock worth $415,374,000 after buying an additional 5,620,910 shares during the period. Vanguard Group Inc. boosted its position in shares of Macy’s by 6.5% in the third quarter. Vanguard Group Inc. now owns 35,205,128 shares of the company’s stock worth $1,222,675,000 after buying an additional 2,133,597 shares during the period. Janus Henderson Group PLC boosted its position in shares of Macy’s by 998.6% in the third quarter. Janus Henderson Group PLC now owns 2,135,151 shares of the company’s stock worth $74,153,000 after buying an additional 1,940,793 shares during the period. TIAA CREF Investment Management LLC boosted its position in shares of Macy’s by 290.3% in the third quarter. TIAA CREF Investment Management LLC now owns 2,597,586 shares of the company’s stock worth $90,214,000 after buying an additional 1,932,030 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Macy’s by 87.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 3,760,431 shares of the company’s stock worth $130,745,000 after buying an additional 1,750,507 shares during the period. 92.58% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on the company. Standpoint Research cut Macy’s from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Deutsche Bank upped their target price on Macy’s from $35.00 to $38.00 and gave the company a “hold” rating in a research note on Thursday, November 15th. Morgan Stanley upped their target price on Macy’s from $25.00 to $27.00 and gave the company an “underweight” rating in a research note on Thursday, August 16th. Canaccord Genuity upgraded Macy’s from an “average” rating to a “buy” rating and set a $5.50 target price for the company in a research note on Friday, November 16th. Finally, Royal Bank of Canada set a $39.00 target price on Macy’s and gave the company a “hold” rating in a research note on Thursday, August 16th. 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 given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $34.91.

ILLEGAL ACTIVITY NOTICE: “Macy’s Inc (NYSE:M) Director William H. Lenehan Buys 3,154 Shares” was originally published by Baseball Daily News and is the sole property of of Baseball Daily News. If you are viewing this report on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The legal version of this report can be accessed at https://www.baseballdailydigest.com/news/2018/12/06/william-h-lenehan-purchases-3154-shares-of-macys-inc-m-stock.html.

About Macy’s

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.

Featured Story: Futures Contract

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

Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply