Macy’s, Inc. (NYSE:M) EVP Adrian V. Mitchell Sells 5,122 Shares

Macy’s, Inc. (NYSE:M) EVP Adrian V. Mitchell sold 5,122 shares of the company’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $12.77, for a total transaction of $65,407.94. Following the completion of the sale, the executive vice president now directly owns 130,491 shares in the company, valued at $1,666,370.07. This trade represents a 3.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Macy’s Price Performance

M opened at $12.60 on Tuesday. Macy’s, Inc. has a 1 year low of $12.48 and a 1 year high of $20.70. The company’s 50 day simple moving average is $14.36 and its 200 day simple moving average is $15.26. The stock has a market capitalization of $3.50 billion, a PE ratio of 21.35 and a beta of 2.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26.

Macy’s (NYSE:M) last announced its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.25. The company had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.76 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. As a group, sell-side analysts expect that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.1824 per share. The ex-dividend date 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 5.79%. Macy’s’s dividend payout ratio is currently 35.44%.

Hedge Funds Weigh In On Macy’s

A number of large investors have recently modified their holdings of M. Norges Bank purchased a new position in shares of Macy’s in the 4th quarter valued at $96,689,000. Junto Capital Management LP acquired a new stake in Macy’s in the 4th quarter valued at $48,775,000. FMR LLC raised its position in Macy’s by 59.9% in the fourth quarter. FMR LLC now owns 7,503,742 shares of the company’s stock valued at $127,038,000 after purchasing an additional 2,812,151 shares during the period. Marshall Wace LLP lifted its stake in shares of Macy’s by 1,230.8% during the fourth quarter. Marshall Wace LLP now owns 2,387,193 shares of the company’s stock worth $40,415,000 after purchasing an additional 2,207,809 shares in the last quarter. Finally, Cooper Creek Partners Management LLC boosted its position in shares of Macy’s by 26.2% in the fourth quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company’s stock worth $132,701,000 after buying an additional 1,627,572 shares during the period. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on M shares. StockNews.com raised Macy’s from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. New Street Research set a $13.00 price objective on Macy’s in a research report on Thursday, March 6th. Morgan Stanley set a $14.00 price objective on Macy’s in a research report on Monday, March 10th. Guggenheim restated a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Finally, Benchmark raised shares of Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.