The stock of Macy’s Inc. (NYSE:M) last traded at $15.61, up 5.76% from the previous session.
M stock price is now -10.10% away from the 50-day moving average and -19.94% away from the 200-day moving average. The market capitalization of the company currently stands at $4.24B.
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With the price target enhanced from $28 to $29, JP Morgan Upgraded its rating from Neutral to Overweight for Macy’s Inc. (NYSE: M). On March 29, 2023, Gordon Haskett Downgraded its previous ‘Accumulate’ rating to ‘Hold’ on the stock keeping its target price maintained at $18, while ‘Goldman’ rates the stock as ‘Buy’.
In other news, Mitchell Adrian V, EVP, Chief Financial Officer sold 3,255 shares of the company’s stock on Nov 25. The stock was sold for $77,035 at an average price of $23.67. Upon completion of the transaction, the EVP, Chief Financial Officer now directly owns 12,546 shares in the company, valued at $0.2 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 06, SVP and Controller Griscom Paul sold 1,223 shares of the business’s stock. A total of $20,852 was realized by selling the stock at an average price of $17.05. This leaves the insider owning 7,550 shares of the company worth $0.12 million. Insiders disposed of 939,003 shares of company stock worth roughly $14.66 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in M stock. A new stake in Macy’s Inc. shares was purchased by CEREDEX VALUE ADVISORS LLC during the first quarter worth $39,706,000. JUPITER ASSET MANAGEMENT LTD invested $14,528,000 in shares of M during the first quarter. In the first quarter, NOMURA HOLDINGS INC acquired a new stake in Macy’s Inc. valued at approximately $3,592,000. BROOKFIELD CORP /ON/ acquired a new stake in M for approximately $3,253,000. PRENTICE CAPITAL MANAGEMENT, LP purchased a new stake in M valued at around $2,442,000 in the second quarter. In total, there are 611 active investors with 83.60% ownership of the company’s stock.
With an opening price of $14.88 on Wednesday morning, Macy’s Inc. (NYSE: M) set off the trading day. During the past 12 months, Macy’s Inc. has had a low of $14.48 and a high of $25.12. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.20, and a quick ratio of 0.30. The fifty day moving average price for M is $17.25 and a two-hundred day moving average price translates $19.49 for the stock.
The latest earnings results from Macy’s Inc. (NYSE: M) was released for Jan, 2023. According to the Department Stores Company, earnings per share came in at $1.71, beating analysts’ expectations of $1.57 by 0.14. This compares to $2.39 EPS in the same period last year. The net profit margin was 4.70% and return on equity was 32.80% for M. The company reported revenue of $8.53 billion for the quarter, compared to $8.93 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -4.52 percent. For the current quarter, analysts expect M to generate $5.06B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 04/03/2023. Investors who held shares on 03/15/2023 were paid a $0.1654 dividend. On an annualized basis, this represents a $0.66 dividend and a 4.24% percent yield. There was an ex-dividend date of 03/14/2023 for this dividend. In terms of dividend payout ratio, M is presently at 15.30%.
Macy’s Inc.(M) Company Profile
Macy’s, Inc., an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy’s, Bloomingdale’s, and bluemercury brands. It also operates in Dubai, the United Arab Emirates, and Al Zahra, Kuwait under the license agreements. The company was formerly known as Federated Department Stores, Inc. and changed its name to Macy’s, Inc. in June 2007. The company was founded in 1830 and is based in New York, New York.
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