Macy’s Inc (NYSE:M)’s share price traded up 5.5% on Wednesday . The company traded as high as $22.25 and last traded at $22.17. 14,289,073 shares traded hands during trading, an increase of 49% from the average session volume of 9,605,970 shares. The stock had previously closed at $21.01.

A number of equities analysts recently weighed in on the stock. Cowen and Company set a $29.00 target price on shares of Macy’s and gave the stock a “hold” rating in a report on Saturday, May 13th. Royal Bank Of Canada set a $28.00 target price on shares of Macy’s and gave the stock a “hold” rating in a report on Saturday, May 13th. Jefferies Group LLC restated a “hold” rating and set a $21.00 target price (down from $24.00) on shares of Macy’s in a report on Friday, August 11th. Deutsche Bank AG boosted their target price on shares of Macy’s from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Tuesday, August 8th. Finally, Northcoast Research restated a “neutral” rating on shares of Macy’s in a report on Thursday, May 11th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $27.63.

The firm has a 50 day moving average of $21.87 and a 200-day moving average of $25.48. The stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of 9.87 and a beta of 0.83.

Macy’s (NYSE:M) last posted its earnings results on Thursday, August 10th. The company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.52 billion. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 EPS. Equities analysts expect that Macy’s Inc will post $3.38 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 6.95%. The ex-dividend date is Thursday, September 14th. Macy’s’s payout ratio is presently 68.64%.

In related news, insider Jeffrey Gennette bought 13,085 shares of Macy’s stock in a transaction on Monday, June 12th. The stock was acquired at an average price of $22.95 per share, with a total value of $300,300.75. Following the acquisition, the insider now directly owns 89,053 shares of the company’s stock, valued at $2,043,766.35. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John A. Bryant bought 9,825 shares of Macy’s stock in a transaction on Wednesday, August 23rd. The shares were bought at an average cost of $20.32 per share, with a total value of $199,644.00. Following the acquisition, the director now directly owns 9,825 shares in the company, valued at $199,644. The disclosure for this purchase can be found here. Insiders have acquired a total of 27,300 shares of company stock valued at $599,686 in the last ninety days. Insiders own 1.40% of the company’s stock.

A number of hedge funds have recently bought and sold shares of M. Vantage Financial Partners Ltd. Inc. bought a new stake in shares of Macy’s during the 2nd quarter valued at about $335,000. Penserra Capital Management LLC boosted its position in shares of Macy’s by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock valued at $109,000 after acquiring an additional 320 shares during the last quarter. Ropes Wealth Advisors LLC boosted its position in shares of Macy’s by 63.5% during the 1st quarter. Ropes Wealth Advisors LLC now owns 4,806 shares of the company’s stock valued at $142,000 after acquiring an additional 1,866 shares during the last quarter. Ffcm LLC boosted its position in shares of Macy’s by 251.6% during the 2nd quarter. Ffcm LLC now owns 5,052 shares of the company’s stock valued at $120,000 after acquiring an additional 3,615 shares during the last quarter. Finally, Financial Architects Inc boosted its position in shares of Macy’s by 254.5% during the 2nd quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock valued at $136,000 after acquiring an additional 4,200 shares during the last quarter. 81.71% of the stock is owned by institutional investors and hedge funds.

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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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