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 Macy’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total value of $47,938.86. Following the completion of the transaction, the executive vice president now owns 116,165 shares in the company, valued at $1,596,107.10. The trade was a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Macy’s Trading Down 2.2 %

Shares of NYSE:M traded down $0.30 during midday trading on Wednesday, hitting $13.29. The company had a trading volume of 5,825,748 shares, compared to its average volume of 5,984,544. The firm has a fifty day simple moving average of $14.43 and a 200 day simple moving average of $15.31. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 22.52 and a beta of 2.07. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. Macy’s, Inc. has a 12 month low of $12.60 and a 12 month high of $20.70.

Macy’s (NYSE:M) last posted its earnings results on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.25. The company had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. On average, analysts predict that Macy’s, Inc. will post 2.39 EPS for the current 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 issued a $0.1824 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a yield of 5.49%. Macy’s’s dividend payout ratio (DPR) is 35.44%.

Hedge Funds Weigh In On Macy’s

Hedge funds and other institutional investors have recently made changes to their positions in the company. Trifecta Capital Advisors LLC bought a new position in shares of Macy’s during the 4th quarter valued at about $34,000. Jones Financial Companies Lllp raised its holdings in Macy’s by 82.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after buying an additional 969 shares during the period. Quest Partners LLC acquired a new stake in Macy’s during the 3rd quarter worth approximately $35,000. Kestra Investment Management LLC bought a new position in Macy’s in the fourth quarter valued at approximately $38,000. Finally, Bessemer Group Inc. boosted its holdings 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 buying an additional 2,839 shares during the period. 87.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. lowered Macy’s from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $19.00 to $14.00 in a research note on Thursday, March 6th. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. The Goldman Sachs Group decreased their price target on shares of Macy’s from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Citigroup lowered their price target on shares of Macy’s from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $15.30.

About Macy’s

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.