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Macy’s Inc. (NYSE: M), a well-known retailer that offers a variety of merchandise including apparel, accessories, cosmetics, home furnishings and other consumer products, reported an insider selling incident according to its latest SEC filing. Danielle Kirgan, the company’s executive vice president, chief transformation and human resources officer, sold 15,070 Macy’s shares on March 22, 2024. Danielle Kirgans The transaction was executed at an average price of $20.42 per share, for total sales of $307,729.40. SEC filings detailing the transaction can be found here. Over the past year, Danielle Kirgan sold a total of 64,272 Macy’s shares and purchased no shares. This latest transaction continues the company’s trend of insider selling, which has seen 12 insider sales and no insider buying occur during the same period.
Macy’s Inc has a market capitalization of US$5.405bn, with the insider most recently selling shares at US$20.42. The company’s price-to-earnings ratio is 53.28, which is higher than the industry median of 18.39 and higher than Macy’s Inc.’s historical median price-to-earnings ratio. In terms of valuation, Macy’s has a P/E ratio of 0.97, indicating that the stock is fairly valued compared to its GF value of $21.13. GF Value is GuruFocus’ proprietary intrinsic value estimate that takes into account historical trading multiples, GuruFocus adjustment factors based on past returns and growth, and Morningstar analyst estimates of future business performance.
Investors and analysts often monitor insider trading because they can provide insight into a company’s inside view on a stock’s valuation and future prospects. Macy’s Inc.’s consistent pattern of insider sales may be a point of interest to stakeholders and market observers.
This article was generated by GuruFocus and is intended to provide general insight and is not tailored financial advice. Our commentary is rooted in historical data and analyst forecasts, employs an unbiased methodology, and is not intended to serve as specific investment guidance. It does not make a recommendation to purchase or divest any stock and does not take into account personal investment objectives or financial situation. Our goal is to provide long-term, fundamental data-driven analysis. Please note that our analysis may not include the latest, price-sensitive company announcements or qualitative information. GuruFocus does not hold a position in the stocks mentioned in this article.
This article first appeared on GuruFocus.
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