SVP and Controller Griscom Paul sale 1,223 shares of Macy’s Inc. [M]

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Macy’s Inc. shares valued at $20,852 were sold by Griscom Paul on Sep 06. At $17.05 per share, Griscom Paul sold 1,223 shares. The insider’s holdings dropped to 7,550 shares worth approximately $0.12 million following the completion of this transaction.


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Also, Griscom Paul sold 2,868 shares, netting a total of over 49,992 in proceeds. Following the sale of shares at $17.43 each, the insider now holds 4,688 shares.

Before that, Spring Antony had sold 19,678 shares from its account. In a trade valued at $341,693, the EVP-Macy’s/CEO-Bloomingdale’s traded Macy’s Inc. shares for $17.36 each. Upon closing the transaction, the insider’s holdings decreased to 19,678 shares, worth approximately $1.82 million.

As published in a research note from Morgan Stanley on May 27, 2022, Macy’s Inc. [M] has been rated up from an Underweight to an Equal-weight and the price target has been revised to $22 from $20. This represents a 25.23% premium over Wednesday’s closing price. Analysts at Citigroup upgraded the stock from ‘”a Sell”‘ to ‘”a Neutral”‘ outlook in a report released in late February. As of February 23, 2022, Jefferies has reiterated its “Buy” rating for M. Earlier on February 23, 2022, Gordon Haskett resumed its rating. Their recommendation was “a Buy” for M stock.

Analyzing M’s Price Performance

On Wednesday, Macy’s Inc. [NYSE: M] plunged -0.60% to $16.45. The stock’s lowest price that day was $16.44, but it reached a high of $17.02 in the same session. During the last five days, there has been a drop of approximately -0.78%. Over the course of the year, Macy’s Inc. shares have dropped approximately -37.17%. Shares of the company reached a 52-week high of $28.52 on 01/03/22 and a 52-week low of $15.85 on 07/14/22. A 50-day SMA is recorded $17.98, while a 200-day SMA reached $22.53. Nevertheless, trading volume fell to 10.51 million shares from 7.97 million shares the previous day.

Support And Resistance Levels for Macy’s Inc. (M)

According to the 24-hour chart, there is a support level at 16.25, which, if violated, would cause prices to drop to 16.06. In the upper region, resistance lies at 16.83. The next price resistance is at 17.22. RSI (Relative Strength Index) is 39.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.45, which suggests the price will decrease in the coming days. Percent R is at 91.83%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Macy’s Inc. subject to short interest?

Stocks of Macy’s Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -7.72 million shares to 27.26 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 34.98 million shares. A decline of -28.32% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.96 of the overall float, the days-to-cover ratio (short ratio) decline to 1.96.

Which companies own the most shares of Macy’s Inc. (M)?

According to The Vanguard Group, Inc. filings, the company currently owns 28,903,840 shares, which is about 10.67% of the total M shares outstanding. The investor’s shares have plunged by -1,117,868 from its previous 13-F filing of 30021708.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $391,020,719. Renaissance Technologies LLC acquire a 224.50% interest valued at $213.39 million while Arrowstreet Capital LP purchased a 523,196 stake. A total of -1,908,738 shares of Macy’s Inc. were bought by SSgA Funds Management, Inc. during the quarter, and -74,717 were sold by Newport Trust Co. In its current portfolio, Dimensional Fund Advisors LP holds 7,863,676 shares valued at $136.2 million.

In terms of Macy’s Inc. share price expectations, FactSet research, analysts set an average price target of $22.38 in the next 12 months, up nearly 38.97% from the previous closing price of $16.55. Analysts anticipate Macy’s Inc. stock to reach $30.00 by 2022, with the lowest price target being $13.00. In spite of this, 17 analysts ranked Macy’s Inc. stock as a Hold at the end of 2022. On February 23, 2022, Deutsche Bank assigned a price target of “a Hold” to the stock and reiterated coverage with a $34.

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