Adrian V. Mitchell Sells 13,279 Shares of Macy’s, Inc. (NYSE:M) Stock

Macy’s, Inc. (NYSE:MGet Free Report) CFO Adrian V. Mitchell sold 13,279 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $19.63, for a total transaction of $260,666.77. Following the completion of the transaction, the chief financial officer now owns 120,457 shares of the company’s stock, valued at approximately $2,364,570.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Macy’s Stock Performance

Shares of M stock opened at $18.86 on Thursday. The company has a current ratio of 1.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.72. The firm has a fifty day moving average price of $19.58 and a 200 day moving average price of $16.58. The company has a market cap of $5.17 billion, a P/E ratio of 50.96 and a beta of 2.15. Macy’s, Inc. has a 12 month low of $10.54 and a 12 month high of $22.10.

Macy’s (NYSE:MGet Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, beating 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 analysts’ expectations of $8.07 billion. During the same period in the previous year, the company earned $1.88 earnings per share. Macy’s’s quarterly revenue was down 1.7% compared to the same quarter last year. Sell-side analysts predict that Macy’s, Inc. will post 2.57 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a $0.1737 dividend. The ex-dividend date was Thursday, March 14th. This is a boost from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.69 dividend on an annualized basis and a yield of 3.68%. Macy’s’s payout ratio is 186.49%.

Institutional Investors Weigh In On Macy’s

Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. increased its stake in shares of Macy’s by 1,054.0% during the second quarter. Point72 Asset Management L.P. now owns 10,846,841 shares of the company’s stock worth $174,092,000 after acquiring an additional 9,906,912 shares during the period. Holocene Advisors LP increased its stake in shares of Macy’s by 171.1% during the second quarter. Holocene Advisors LP now owns 5,582,759 shares of the company’s stock worth $89,603,000 after acquiring an additional 3,523,368 shares during the period. Norges Bank acquired a new position in Macy’s during the fourth quarter worth about $62,529,000. Vanguard Group Inc. grew its position in Macy’s by 7.8% during the third quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock worth $422,390,000 after buying an additional 2,645,577 shares during the period. Finally, Schonfeld Strategic Advisors LLC grew its position in Macy’s by 196.2% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 3,453,241 shares of the company’s stock worth $71,309,000 after buying an additional 2,287,287 shares during the period. 87.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on M shares. TD Cowen downgraded shares of Macy’s from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $23.00 to $20.00 in a research note on Thursday, February 29th. The Goldman Sachs Group boosted their price target on shares of Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Telsey Advisory Group restated a “market perform” rating and issued a $21.00 price target on shares of Macy’s in a research note on Thursday, March 28th. Morgan Stanley dropped their price target on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 28th. Finally, StockNews.com assumed coverage on shares of Macy’s in a research note on Sunday. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $17.45.

Check Out Our Latest Report on M

About Macy’s

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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.

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Insider Buying and Selling by Quarter for Macy's (NYSE:M)

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