Macy’s Sees Unusually High Options Volume (M)
Macy’s Inc (NYSE:M) was the target of some unusual options trading activity on Wednesday. Stock traders bought 33,975 call options on the stock. This is an increase of 489% compared to the average volume of 5,766 call options.
Shares of Macy’s (NYSE M) opened at 20.62 on Friday. Macy’s has a one year low of $20.16 and a one year high of $45.41. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 11.12 and a beta of 0.84. The company’s 50 day moving average is $22.86 and its 200-day moving average is $26.87.
Macy’s (NYSE:M) last posted its quarterly earnings data on Thursday, August 10th. The company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. Macy’s had a net margin of 2.26% and a return on equity of 22.37%. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period in the prior year, the firm posted $0.51 EPS. The company’s quarterly revenue was down 5.4% on a year-over-year basis. Equities analysts expect that Macy’s will post $3.33 EPS for the current year.
Several analysts have recently commented on the stock. Vetr cut shares of Macy’s from a “buy” rating to a “hold” rating and set a $30.62 price target on the stock. in a research note on Thursday, April 20th. Jefferies Group LLC reissued a “hold” rating and set a $27.00 price target on shares of Macy’s in a research note on Thursday, May 11th. Zacks Investment Research cut shares of Macy’s from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. Wunderlich reissued a “buy” rating and set a $24.00 price target on shares of Macy’s in a research note on Friday, May 5th. Finally, Gordon Haskett assumed coverage on shares of Macy’s in a research note on Tuesday, May 9th. They set a “hold” rating and a $29.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Macy’s presently has a consensus rating of “Hold” and a consensus target price of $30.84.
In related news, insider Jeffrey Gennette purchased 13,085 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were acquired at an average cost of $22.95 per share, with a total value of $300,300.75. Following the completion of the purchase, the insider now directly owns 89,053 shares of the company’s stock, valued at $2,043,766.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William H. Lenehan purchased 4,390 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were bought at an average cost of $22.72 per share, for a total transaction of $99,740.80. Following the completion of the purchase, the director now directly owns 5,968 shares of the company’s stock, valued at $135,592.96. The disclosure for this purchase can be found here. 1.40% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of M. Penserra Capital Management LLC raised its stake 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 in the last quarter. Ffcm LLC raised its stake 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 in the last quarter. Financial Architects Inc raised its stake in Macy’s by 254.5% in the second quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock worth $136,000 after buying an additional 4,200 shares in the last quarter. Ropes Wealth Advisors LLC raised its stake 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 in the last quarter. Finally, Edge Wealth Management LLC purchased a new stake in Macy’s during the second quarter worth approximately $142,000. 84.30% of the stock is currently owned by institutional investors.
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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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