Macy’s (NYSE:M) EVP Sells $94,456.32 in Stock

Macy’s, Inc. (NYSE:M) EVP Tracy Preston sold 5,271 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $17.92, for a total value of $94,456.32. Following the transaction, the executive vice president owned 28,773 shares of the company’s stock, valued at approximately $515,612.16. This trade represents a 15.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Macy’s Stock Down 0.2%

M stock traded down $0.03 during trading hours on Tuesday, reaching $18.10. 4,733,326 shares of the stock were exchanged, compared to its average volume of 7,639,447. The firm’s 50-day moving average is $19.55 and its 200-day moving average is $20.19. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 7.80 and a beta of 1.51. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.49 and a quick ratio of 0.50. Macy’s, Inc. has a 12 month low of $9.76 and a 12 month high of $24.41.

Macy’s (NYSE:M) last released its earnings results on Wednesday, March 18th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.12. The firm had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.48 billion. Macy’s had a return on equity of 14.22% and a net margin of 2.84%.The company’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.80 EPS. On average, equities research analysts expect that Macy’s, Inc. will post 2.39 earnings per share for the current year.

Macy’s Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were given a $0.1915 dividend. This is an increase from Macy’s’s previous quarterly dividend of $0.18. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, March 13th. Macy’s’s dividend payout ratio (DPR) is presently 33.19%.

Hedge Funds Weigh In On Macy’s

A number of hedge funds and other institutional investors have recently bought and sold shares of M. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Macy’s by 38.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 162,989 shares of the company’s stock worth $2,047,000 after purchasing an additional 45,149 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Macy’s by 5.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,116,170 shares of the company’s stock worth $14,019,000 after purchasing an additional 55,821 shares during the period. Focus Partners Wealth grew its holdings in Macy’s by 33.1% during the first quarter. Focus Partners Wealth now owns 58,197 shares of the company’s stock worth $731,000 after purchasing an additional 14,489 shares during the period. Cetera Investment Advisers grew its holdings in Macy’s by 49.6% during the second quarter. Cetera Investment Advisers now owns 24,300 shares of the company’s stock worth $283,000 after purchasing an additional 8,053 shares during the period. Finally, XTX Topco Ltd bought a new position in Macy’s during the second quarter worth about $268,000. Institutional investors own 87.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on M. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $20.00 target price on shares of Macy’s in a research report on Wednesday, April 1st. TD Cowen lowered their target price on Macy’s from $21.00 to $20.00 and set a “hold” rating on the stock in a research report on Thursday, March 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $22.00 target price on shares of Macy’s in a research report on Wednesday, March 18th. Zacks Research downgraded Macy’s from a “hold” rating to a “strong sell” rating in a research report on Friday, March 13th. Finally, UBS Group lifted their target price on Macy’s from $8.00 to $9.00 and gave the company a “sell” rating in a research report on Monday, March 9th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Macy’s has a consensus rating of “Reduce” and an average target price of $18.90.

Macy’s Company Profile

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.