Macy’s, Inc. (NYSE:M) EVP Sells $47,938.86 in Stock

Macy’s, Inc. (NYSE:M) EVP Adrian V. Mitchell sold 3,489 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $47,938.86. Following the sale, the executive vice president now owns 116,165 shares of the company’s stock, valued at approximately $1,596,107.10. This represents a 2.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Macy’s Price Performance

Shares of NYSE M opened at $12.79 on Friday. The company’s fifty day moving average is $14.38 and its two-hundred day moving average is $15.27. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The firm has a market capitalization of $3.55 billion, a P/E ratio of 21.67 and a beta of 2.07. Macy’s, Inc. has a one year low of $12.60 and a one year high of $20.70.

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

Macy’s Increases Dividend

The company also recently announced 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. This represents a $0.73 dividend on an annualized basis and a yield of 5.71%. This is an increase from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, March 14th. Macy’s’s payout ratio is presently 35.44%.

Institutional Trading of Macy’s

Several large investors have recently bought and sold shares of the company. Trifecta Capital Advisors LLC purchased a new stake in shares of Macy’s in the 4th quarter worth about $34,000. Quest Partners LLC acquired a new position in Macy’s during the third quarter worth about $35,000. Jones Financial Companies Lllp lifted its holdings in shares of Macy’s by 82.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after purchasing an additional 969 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Macy’s in the fourth quarter valued at approximately $38,000. Finally, Bessemer Group Inc. grew its position in shares of Macy’s by 495.5% in the fourth quarter. Bessemer Group Inc. now owns 3,412 shares of the company’s stock valued at $58,000 after purchasing an additional 2,839 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Gordon Haskett cut shares of Macy’s from an “accumulate” rating to a “hold” rating in a report on Thursday, March 6th. Citigroup decreased their price objective on Macy’s from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Benchmark raised Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Finally, Cowen reaffirmed a “hold” rating on shares of Macy’s in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.