Director Jeffrey Gennette Sells 78,567 Shares of Macy's Inc (M)
Macy's Inc (NYSE:M), a prominent retailer offering a wide range of merchandise including apparel, accessories, cosmetics, home furnishings, and other consumer goods, has reported an insider sale according to a recent SEC filing. Director Jeffrey Gennette sold 78,567 shares of the company on March 22, 2024.Jeffrey Gennettes recent transaction involved the sale of 78,567 shares at a market price of $20.42 per share. This transaction has altered the director's holdings in the company, following a year in which the insider has sold a total of 153,997 shares and has not made any purchases.The insider transaction history for Macy's Inc (NYSE:M) indicates a pattern of insider sales over the past year, with 12 recorded insider sells and no insider buys. This trend can be visualized in the following insider trend image:
In terms of valuation, Macy's Inc (NYSE:M) shares were trading at $20.42 on the day of the insider's sale, resulting in a market capitalization of $5.405 billion. The price-earnings ratio of the company stands at 53.28, which is above both the industry median of 18.39 and the historical median price-earnings ratio for Macy's Inc.The stock's valuation in relation to the GuruFocus Value (GF Value) is also noteworthy. With a share price of $20.42 and a GF Value of $21.13, the price-to-GF-Value ratio is 0.97, suggesting that Macy's Inc is Fairly Valued based on its GF Value. The GF Value is calculated considering historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates from analysts. The GF Value image below provides further context:
For investors monitoring insider activities, the sale by Director Jeffrey Gennette may be of interest as it reflects the actions of an individual with intimate knowledge of the company. However, it is important to consider the broader context of the company's financial performance and market valuation when interpreting insider transactions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
