Macy’s, Inc. (NYSE:M) SVP Sells $12,029.34 in Stock

Macy’s, Inc. (NYSE:M) SVP Paul Griscom sold 942 shares of the company’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $12.77, for a total transaction of $12,029.34. Following the completion of the sale, the senior vice president now directly owns 33,940 shares in the company, valued at approximately $433,413.80. The trade was a 2.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Paul Griscom also recently made the following trade(s):

• On Monday, March 31st, Paul Griscom sold 444 shares of Macy’s stock. The stock was sold at an average price of $12.67, for a total transaction of $5,625.48.
• On Tuesday, March 25th, Paul Griscom sold 400 shares of Macy’s stock. The stock was sold at an average price of $13.74, for a total value of $5,496.00.

Macy’s Stock Down 1.7 %

Shares of NYSE M traded down $0.22 on Monday, reaching $12.60. 6,535,153 shares of the company’s stock traded hands, compared to its average volume of 6,063,796. The business’s 50 day simple moving average is $14.38 and its two-hundred day simple moving average is $15.28. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 21.35 and a beta of 2.07. Macy’s, Inc. has a 12 month low of $12.48 and a 12 month high of $20.70. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.25. The business had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. As a group, equities research analysts forecast that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.1824 per share. The ex-dividend date is Friday, March 14th. This represents a $0.73 annualized dividend and a yield of 5.79%. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio (DPR) is 35.44%.

Institutional Trading of Macy’s

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Macy’s in the fourth quarter worth about $96,689,000. Junto Capital Management LP acquired a new stake in Macy’s during the 4th quarter worth about $48,775,000. FMR LLC increased its holdings in shares of Macy’s by 59.9% during the 4th quarter. FMR LLC now owns 7,503,742 shares of the company’s stock valued at $127,038,000 after purchasing an additional 2,812,151 shares in the last quarter. Marshall Wace LLP grew its holdings in Macy’s by 1,230.8% in the fourth quarter. Marshall Wace LLP now owns 2,387,193 shares of the company’s stock valued at $40,415,000 after purchasing an additional 2,207,809 shares during the period. Finally, Cooper Creek Partners Management LLC raised its position in shares of Macy’s by 26.2% during the 4th quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company’s stock worth $132,701,000 after purchasing an additional 1,627,572 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Analysts Set New Price Targets

M has been the topic of a number of analyst reports. New Street Research set a $13.00 price target on Macy’s in a research report on Thursday, March 6th. Gordon Haskett downgraded Macy’s from an “accumulate” rating to a “hold” rating in a report on Thursday, March 6th. UBS Group cut their price target on shares of Macy’s from $9.00 to $8.00 and set a “sell” rating on the stock in a report on Friday, March 7th. Cowen restated a “hold” rating on shares of Macy’s in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. lowered Macy’s from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $19.00 to $14.00 in a research note on Thursday, March 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.30.

Macy’s Company Profile

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.