In yesterday’s Wall Street session, Macy’s Inc (NYSE:M) shares traded at $17.74, down -0.45% from the previous session.
M stock price is now 0.99% away from the 50-day moving average and -2.54% away from the 200-day moving average. The market capitalization of the company currently stands at $4.90B.
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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, Spring Antony, Chairman & CEO sold 18,981 shares of the company’s stock on Jul 10 ’24. The stock was sold for $359,817 at an average price of $18.96. Upon completion of the transaction, the Chairman & CEO now directly owns 267,265 shares in the company, valued at $4.74 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 10 ’24, SVP and Controller Griscom Paul sold 336 shares of the business’s stock. A total of $6,372 was realized by selling the stock at an average price of $18.97. This leaves the insider owning 26,348 shares of the company worth $0.47 million. A total of 0.86% 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 $17.5524 and a two-hundred day moving average price translates $18.23135 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.
