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Macy's (NYSE:M) Insider Tim M. Adams unloaded 18,014 shares of Macy's stock on the open market in a transaction dated Friday, August 22nd. The shares were sold at an average price of $61.65, for a total transaction of $1,110,563.10. Following the sale, the insider now directly owns 43,393 shares in the company, valued at approximately $2,675,178. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Macy's (NYSE:M) traded up 1.76% during mid-day trading on Friday, hitting $61.77. 5,830,854 shares of the company’s stock traded hands. Macy's has a one year low of $42.18 and a one year high of $61.26. The stock has a 50-day moving average of $58.2 and a 200-day moving average of $57.57. The company has a market cap of $21.836 billion and a P/E ratio of 15.07.

Macy's (NYSE:M) last released its earnings data on Wednesday, August 13th. The company reported $0.80 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.86 by $0.06. The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.30 billion. On average, analysts predict that Macy's will post $4.45 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 2.02%.

Several analysts have recently commented on the stock. Analysts at Stifel Nicolaus raised their price target on shares of Macy's from $64.00 to $70.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Macy's from $60.00 to $67.00 in a research note on Thursday. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Macy's in a research note on Thursday, August 14th. They now have a $59.00 price target on the stock. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $63.79.

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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