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.
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.
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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