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Macy's (NYSE:M) CEO Terry J. Lundgren sold 550,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $62.35, for a total transaction of $34,292,500.00. Following the sale, the chief executive officer now directly owns 413,334 shares of the company’s stock, valued at approximately $25,771,375. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Macy's (NYSE:M) traded down 0.02% on Wednesday, hitting $62.58. The stock had a trading volume of 5,110,833 shares. Macy's has a 1-year low of $42.18 and a 1-year high of $63.10. The stock has a 50-day moving average of $58.63 and a 200-day moving average of $57.9. The company has a market cap of $22.122 billion and a price-to-earnings ratio of 15.53.

Macy's (NYSE:M) last released its earnings data on Wednesday, August 13th. The company reported $0.80 earnings per share for the quarter, missing the analysts’ 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. Analysts expect that Macy's will post $4.42 EPS 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 2.00%. The ex-dividend date is Thursday, September 11th.

A number of research firms have recently commented on M. 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, August 22nd. 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, August 21st. 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 investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average 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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