Stocks of Macy’s Inc (NYSE:M) traded higher last session on Wall Street, down -0.49% to $16.37.
M stock price is now -13.37% away from the 50-day moving average and -7.24% away from the 200-day moving average. The market capitalization of the company currently stands at $4.52B.
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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, Kirgan Danielle L., EVP, Chief HR Officer sold 24,147 shares of the company’s stock on Jul 10 ’24. The stock was sold for $457,714 at an average price of $18.96. Upon completion of the transaction, the EVP, Chief HR Officer now directly owns 348,000 shares in the company, valued at $5.7 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 10 ’24, Chairman & CEO Spring Antony sold 18,981 shares of the business’s stock. A total of $359,817 was realized by selling the stock at an average price of $18.96. This leaves the insider owning 267,265 shares of the company worth $4.38 million. A total of 0.75% 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 1.44, a current ratio of 1.38, and a quick ratio of 0.35. The fifty day moving average price for M is $18.8356 and a two-hundred day moving average price translates $17.6712 for the stock.
The latest earnings results from Macy’s Inc (NYSE: M) was released for 2024-05-04. The net profit margin was 0.05% and return on equity was 0.29% for M. The company reported revenue of $5.0 billion for the quarter, compared to $5.17 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -3.34 percent.
