Macy’s, Inc. (NYSE:M) SVP Sells $60,656.67 in Stock

Macy’s, Inc. (NYSE:M) SVP Paul Griscom sold 2,969 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.43, for a total value of $60,656.67. Following the sale, the senior vice president now owns 21,436 shares in the company, valued at $437,937.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, March 25th, Paul Griscom sold 340 shares of Macy’s stock. The shares were sold at an average price of $20.29, for a total value of $6,898.60.

Macy’s Trading Up 4.0 %

Shares of M opened at $19.85 on Thursday. The company has a quick ratio of 0.39, a current ratio of 1.37 and a debt-to-equity ratio of 0.72. Macy’s, Inc. has a 12-month low of $10.54 and a 12-month high of $22.10. The firm has a market capitalization of $5.44 billion, a PE ratio of 53.64 and a beta of 2.14. The stock’s fifty day simple moving average is $19.43 and its 200-day simple moving average is $16.30.

Macy’s (NYSE:M) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.47. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. The business had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.07 billion. During the same quarter in the prior year, the firm posted $1.88 earnings per share. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, research analysts predict that Macy’s, Inc. will post 2.57 earnings per share for the current year.

Macy’s Increases Dividend

The company 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 dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Thursday, March 14th. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio is 186.49%.

Hedge Funds Weigh In On Macy’s

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Macy’s by 7.8% in the third quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock valued at $422,390,000 after buying an additional 2,645,577 shares during the period. Deutsche Bank AG increased its holdings in shares of Macy’s by 260.8% in the third quarter. Deutsche Bank AG now owns 2,547,529 shares of the company’s stock worth $29,577,000 after acquiring an additional 1,841,432 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Macy’s by 15.7% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 544,534 shares of the company’s stock worth $6,322,000 after acquiring an additional 73,924 shares in the last quarter. Cartenna Capital LP bought a new stake in shares of Macy’s in the second quarter worth about $8,025,000. Finally, American Century Companies Inc. increased its holdings in shares of Macy’s by 20.8% in the third quarter. American Century Companies Inc. now owns 3,287,930 shares of the company’s stock worth $38,173,000 after acquiring an additional 565,269 shares in the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on M shares. TD Cowen cut Macy’s from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $23.00 to $20.00 in a research report on Thursday, February 29th. Morgan Stanley lowered their price target on Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. Telsey Advisory Group upped their price target on Macy’s from $15.00 to $21.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. StockNews.com started coverage on Macy’s in a research report on Saturday, March 23rd. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. upped their price target on Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.45.

About Macy’s

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.