Macys Inc (NYSE:M) has tumbled 0.03% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 6.2% in the last four weeks. In the past week, the company has outperformed the S&P 500 by 1.17% and the outperformance has advanced to 5.23% for the last 4 weeks period.
Macys Inc (NYSE:M): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $32.32 and $32.32 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $33.42. The buying momentum continued till the end and the stock did not give up its gains. It closed at $33.23, notching a gain of 2.72% for the day. The total traded volume was 11,334,969 . The stock had closed at $32.35 on the previous day.
The company shares have dropped -52.46% from its 1 Year high price. On Jul 17, 2015, the shares registered one year high at $73.61 and the one year low was seen on May 18, 2016. The 50-Day Moving Average price is $33.68 and the 200 Day Moving Average price is recorded at $38.58.
On the companys insider trading activities, The Securities and Exchange Commission has divulged that Lundgren Terry J, director officer (Chairman and CEO) of Macys, Inc., had unloaded 177,352 shares at an average price of $43.48 in a transaction dated on March 23, 2016. The total value of the transaction was worth $7,711,265.
Many analysts have stated their opinion on the company shares. Major Brokerage house, Morgan Stanley maintains its ratings on Macys Inc (NYSE:M). In the latest research report, Morgan Stanley lowers the target price from $40 per share to $35 per share. According to the latest information available, the shares are now rated Equal-weight by the analysts at the agency. The rating by the firm was issued on May 12, 2016. Currently the company Insiders own 1.7% of Macys Inc shares according to the proxy statements. Institutional Investors own 86.56% of Macys Inc shares. During last six month period, the net percent change held by insiders has seen a change of 77.26%.
Macys, Inc. is an omnichannel retail company operating stores, Websites (macys.com, bloomingdales.com and bluemercury.com) and mobile. As of January 31, 2015, the operations of the Company included 823 stores with an area of approximately 147,400,000 square feet in 45 states of the United States, the District of Columbia, Guam and Puerto Rico. Of these 823 stores, 447 were owned, 267 were leased and 109 stores were operated under arrangements where the Company owned the building and leased the land. The Company operates its stores under the names of Macys, Bloomingdales, Bloomingdales Outlet and Bluemercury. The Company operates 13 Bloomingdales outlet stores. Bloomingdales in Dubai, the United Arab Emirates is operated under a license agreement with Al Tayer Insignia, a company of Al Tayer Group, LLC.