Jeffrey Gennette Sells 19,609 Shares of Macy’s, Inc. (NYSE:M) Stock

Macy’s, Inc. (NYSE:M) Director Jeffrey Gennette sold 19,609 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $20.28, for a total transaction of $397,670.52. Following the completion of the sale, the director now directly owns 1,015,015 shares in the company, valued at approximately $20,584,504.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Jeffrey Gennette also recently made the following trade(s):

• On Friday, March 22nd, Jeffrey Gennette sold 78,567 shares of Macy’s stock. The stock was sold at an average price of $20.42, for a total transaction of $1,604,338.14.

Macy’s Stock Up 4.0 %

Shares of Macy’s stock opened at $19.85 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.39 and a current ratio of 1.37. The stock has a market capitalization of $5.44 billion, a PE ratio of 53.64 and a beta of 2.14. Macy’s, Inc. has a 52-week low of $10.54 and a 52-week high of $22.10. The company has a 50-day simple moving average of $19.43 and a two-hundred day simple moving average of $16.30.

Macy’s (NYSE:M) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.47. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The firm had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.07 billion. During the same period in the previous year, the business posted $1.88 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, analysts anticipate that Macy’s, Inc. will post 2.57 EPS for the current fiscal year.

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be paid a $0.1737 dividend. The ex-dividend date is Thursday, March 14th. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.50%. Macy’s’s payout ratio is currently 186.49%.

Wall Street Analyst Weigh In

M has been the topic of a number of recent analyst reports. TD Cowen lowered shares of Macy’s from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $23.00 to $20.00 in a report on Thursday, February 29th. Morgan Stanley dropped their target price on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 28th. The Goldman Sachs Group raised their target price on shares of Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. raised their target price on shares of Macy’s from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Finally, Telsey Advisory Group raised their target price on shares of Macy’s from $15.00 to $21.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $17.45.

Institutional Trading of Macy’s

A number of large investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. grew its position in Macy’s by 7.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 44,210 shares of the company’s stock valued at $1,077,000 after buying an additional 2,981 shares during the period. US Bancorp DE grew its position in Macy’s by 7.2% during the first quarter. US Bancorp DE now owns 18,576 shares of the company’s stock valued at $452,000 after buying an additional 1,244 shares during the period. Natixis Advisors L.P. grew its position in Macy’s by 34.4% during the first quarter. Natixis Advisors L.P. now owns 28,563 shares of the company’s stock valued at $696,000 after buying an additional 7,317 shares during the period. APG Asset Management N.V. bought a new position in shares of Macy’s in the first quarter worth approximately $1,482,000. Finally, Great West Life Assurance Co. Can boosted its position in shares of Macy’s by 13.9% in the first quarter. Great West Life Assurance Co. Can now owns 219,731 shares of the company’s stock worth $5,550,000 after purchasing an additional 26,827 shares during the period. 87.36% of the stock is currently owned by institutional investors.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.