Macy’s Target of Unusually High Options Trading (M)
Macy’s Inc (NYSE:M) was the recipient of some unusual options trading activity on Wednesday. Traders purchased 813 put options on the stock. This represents an increase of approximately 166% compared to the typical daily volume of 306 put options.
A number of equities research analysts recently commented on M shares. Wunderlich reiterated a “buy” rating and issued a $24.00 target price on shares of Macy’s in a research report on Friday, May 5th. Guggenheim reiterated a “buy” rating and issued a $26.00 target price on shares of Macy’s in a research report on Friday, June 16th. Vetr lowered Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 target price on the stock. in a research report on Thursday, July 27th. BMO Capital Markets set a $36.00 target price on Macy’s and gave the company a “buy” rating in a research report on Friday, August 11th. Finally, Royal Bank Of Canada set a $28.00 target price on Macy’s and gave the company a “hold” rating in a research report on Saturday, May 13th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Macy’s has an average rating of “Hold” and a consensus target price of $29.74.
In other news, insider Jeffrey Gennette bought 13,085 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were purchased at an average price of $22.95 per share, for a total transaction of $300,300.75. Following the completion of the transaction, the insider now directly owns 89,053 shares in the company, valued at $2,043,766.35. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William H. Lenehan bought 4,390 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was purchased at an average price of $22.72 per share, for a total transaction of $99,740.80. Following the transaction, the director now owns 5,968 shares of the company’s stock, valued at $135,592.96. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in M. Vantage Financial Partners Ltd. Inc. bought a new position in Macy’s during the second quarter worth $335,000. Penserra Capital Management LLC boosted its position in Macy’s by 9.5% in the first quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock worth $109,000 after buying an additional 320 shares during the period. Ropes Wealth Advisors LLC boosted its position in Macy’s by 63.5% in the first quarter. Ropes Wealth Advisors LLC now owns 4,806 shares of the company’s stock worth $142,000 after buying an additional 1,866 shares during the period. Ffcm LLC boosted its position in Macy’s by 251.6% in the second quarter. Ffcm LLC now owns 5,052 shares of the company’s stock worth $120,000 after buying an additional 3,615 shares during the period. Finally, First Manhattan Co. boosted its position in Macy’s by 0.6% in the first quarter. First Manhattan Co. now owns 5,076 shares of the company’s stock worth $188,000 after buying an additional 29 shares during the period. 84.21% of the stock is owned by institutional investors.
Macy’s (M) opened at 19.49 on Friday. The firm has a market capitalization of $5.94 billion, a P/E ratio of 8.86 and a beta of 0.84. The stock’s 50 day moving average price is $22.46 and its 200 day moving average price is $26.52. Macy’s has a 52 week low of $19.35 and a 52 week high of $45.41.
Macy’s (NYSE:M) last posted its earnings results on Thursday, August 10th. The company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the previous year, the business earned $0.51 earnings per share. Macy’s’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, equities analysts expect that Macy’s will post $3.38 EPS for the current year.
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Macy’s Company Profile
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
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