In yesterday’s Wall Street session, Macy’s Inc (NYSE:M) shares traded at $18.73, down -1.52% from the previous session.
M stock price is now -4.74% away from the 50-day moving average and 15.84% away from the 200-day moving average. The market capitalization of the company currently stands at $5.14B.
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With the price target reduced from $23 to $20, TD Cowen Downgraded its rating from Outperform to Market Perform for Macy’s Inc (NYSE: M). On February 28, 2024, Telsey Advisory Group reiterated its ‘Market Perform’ rating on the stock by increasing its target price from $15 to quote $21, while ‘Citigroup’ rates the stock as ‘Neutral’
In other news, Gennette Jeffrey, Director sold 30,090 shares of the company’s stock on Apr 01 ’24. The stock was sold for $591,422 at an average price of $19.66. Upon completion of the transaction, the Director now directly owns 1,073,699 shares in the company, valued at $20.11 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 01 ’24, CEO & Chair-Elect Spring Antony sold 14,859 shares of the business’s stock. A total of $291,743 was realized by selling the stock at an average price of $19.63. This leaves the insider owning 248,897 shares of the company worth $4.66 million. A total of 0.74% of the company’s stock is owned by insiders.
During the past 12 months, Macy’s Inc has had a low of $10.54 and a high of $22.10. As of last week, the company has a debt-to-equity ratio of 1.53, a current ratio of 1.37, and a quick ratio of 0.39.
The net profit margin was 0.44% and return on equity was 2.56% for M. The company reported revenue of $8.38 billion for the quarter, compared to $8.58 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -2.42 percent.
