Jeffrey Gennette Sells 30,090 Shares of Macy’s, Inc. (NYSE:M) Stock

Macy’s, Inc. (NYSE:MGet Free Report) Director Jeffrey Gennette sold 30,090 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $19.66, for a total transaction of $591,569.40. Following the completion of the transaction, the director now directly owns 1,073,699 shares in the company, valued at $21,108,922.34. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

  • On Monday, March 25th, Jeffrey Gennette sold 19,609 shares of Macy’s stock. The shares were sold at an average price of $20.28, for a total value of $397,670.52.
  • 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 value of $1,604,338.14.

Macy’s Stock Down 1.1 %

Shares of NYSE:M opened at $18.86 on Thursday. The company has a market capitalization of $5.17 billion, a price-to-earnings 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. The business has a 50-day moving average price of $19.58 and a 200 day moving average price of $16.58. The company has a current ratio of 1.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.72.

Macy’s (NYSE:MGet Free Report) last announced its earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.47. The company had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.07 billion. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. Macy’s’s revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.88 earnings per share. Sell-side analysts expect that Macy’s, Inc. will post 2.57 EPS for the current year.

Macy’s Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.1737 per share. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Thursday, March 14th. Macy’s’s dividend payout ratio (DPR) is currently 186.49%.

Institutional Investors Weigh In On Macy’s

Several institutional investors and hedge funds have recently modified their holdings of M. Raymond James Financial Services Advisors Inc. increased its stake in Macy’s by 7.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 44,210 shares of the company’s stock worth $1,077,000 after buying an additional 2,981 shares during the period. US Bancorp DE increased its position in shares of Macy’s by 7.2% during the first quarter. US Bancorp DE now owns 18,576 shares of the company’s stock worth $452,000 after acquiring an additional 1,244 shares during the period. Natixis Advisors L.P. raised its stake in shares of Macy’s by 34.4% in the first quarter. Natixis Advisors L.P. now owns 28,563 shares of the company’s stock valued at $696,000 after acquiring an additional 7,317 shares in the last quarter. APG Asset Management N.V. purchased a new position in Macy’s in the first quarter valued at $1,482,000. Finally, Great West Life Assurance Co. Can grew its stake in Macy’s by 13.9% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Wall Street Analysts Forecast Growth

M has been the topic of several recent research reports. Citigroup raised shares of Macy’s from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $14.00 to $18.00 in a research note on Friday, February 2nd. StockNews.com initiated coverage on shares of Macy’s in a research report on Sunday. They set a “hold” rating on the stock. TD Cowen lowered shares of Macy’s from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $23.00 to $20.00 in a research note on Thursday, February 29th. The Goldman Sachs Group upped their price target on Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Finally, Morgan Stanley reduced their price objective 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $17.45.

Check Out Our Latest Stock Analysis on M

About Macy’s

(Get Free Report)

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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