Macy's Insider Tim M. Adams Unloads 10,000 Shares (M)
Macy's (NYSE:M) Insider Tim M. Adams sold 10,000 shares of the stock on the open market in a transaction dated Friday, June 20th. The shares were sold at an average price of $58.16, for a total value of $581,600.00. Following the sale, the insider now directly owns 43,393 shares of the company’s stock, valued at approximately $2,523,737. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Macy's (NYSE:M) traded up 0.93% on Monday, hitting $58.70. The stock had a trading volume of 1,931,000 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 $57.90 and a 200-day moving average of $56.11. The company has a market cap of $21.157 billion and a price-to-earnings ratio of 14.79.
Macy's (NYSE:M) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $0.60 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.59 by $0.01. The company had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.46 billion. During the same quarter last year, the company posted $0.55 earnings per share. Macy's’s revenue was down 1.7% compared to the same quarter last year. Analysts expect that Macy's will post $4.50 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Wednesday, June 11th. This is a boost from Macy's’s previous quarterly dividend of $0.25.
A number of analysts have recently weighed in on M shares. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Macy's in a research note on Wednesday, June 11th. They now have a $70.00 price target on the stock, up previously from $63.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Macy's in a research note on Friday, May 16th. They now have a $60.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $62.17.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.