Adrian V. Mitchell Sells 5,122 Shares of Macy’s, Inc. (NYSE:M) Stock

Macy’s, Inc. (NYSE:M) EVP Adrian V. Mitchell sold 5,122 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $12.77, for a total transaction of $65,407.94. Following the transaction, the executive vice president now owns 130,491 shares in the company, valued at approximately $1,666,370.07. This trade represents a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Macy’s Price Performance

Macy’s stock opened at $12.87 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. Macy’s, Inc. has a one year low of $12.48 and a one year high of $20.70. The company has a market cap of $3.57 billion, a P/E ratio of 21.81 and a beta of 2.07. The business has a fifty day moving average of $14.32 and a two-hundred day moving average of $15.25.

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

Macy’s Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.1824 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.67%. This is a boost from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio is currently 35.44%.

Hedge Funds Weigh In On Macy’s

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on M shares. Benchmark raised shares of Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. Citigroup dropped their price target on Macy’s from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. The Goldman Sachs Group lowered their target price on Macy’s from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Finally, New Street Research set a $13.00 price target on Macy’s 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 given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Macy’s has an average rating of “Hold” and a consensus price target of $15.30.

About Macy’s

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.