Insider Selling: Julie Greiner Weiser Unloads 25,000 Shares of Macy's Stock (M)
Macy's (NYSE:M) Insider Julie Greiner Weiser unloaded 25,000 shares of the company’s stock on the open market in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $60.52, for a total value of $1,513,000.00. Following the completion of the transaction, the insider now directly owns 39,272 shares in the company, valued at approximately $2,376,741. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Macy's (NYSE:M) traded down 2.48% on Monday, hitting $58.26. The stock had a trading volume of 3,048,096 shares. Macy's has a 52 week low of $42.18 and a 52 week high of $61.26. The stock has a 50-day moving average of $57.74 and a 200-day moving average of $51.75. The company has a market cap of $21.259 billion and a P/E ratio of 15.48.
Macy's (NYSE:M) last released its earnings data on Tuesday, February 25th. The company reported $2.31 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.17 by $0.14. The company had revenue of $9.20 billion for the quarter, compared to the consensus estimate of $9.27 billion. On average, analysts predict that Macy's will post $4.50 earnings per share for the current fiscal year.
M has been the subject of a number of recent research reports. Analysts at Wells Fargo & Co. upgraded shares of Macy's from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 11th. They now have a $68.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Macy's in a research note on Tuesday, March 4th. They now have a $61.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Macy's in a research note on Wednesday, February 26th. They now have a $68.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Macy's currently has an average rating of “Buy” and a consensus price target of $61.03.
Macy’s, Inc (NYSE:M) is a retail organization operating stores and Internet Websites under two brands (Macy’s and Bloomingdale’s) that sell a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods in 45 states, the District of Columbia, Guam and Puerto Rico.
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