Insider Selling: Macy’s, Inc. (NYSE:M) EVP Sells 3,489 Shares of Stock

Macy’s, Inc. (NYSE:M) EVP Adrian V. Mitchell sold 3,489 shares of the company’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 transaction, the executive vice president now directly owns 116,165 shares of the company’s stock, valued at $1,596,107.10. This represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Macy’s Stock Performance

NYSE:M traded down $0.30 during mid-day trading on Wednesday, hitting $13.29. 5,825,748 shares of the stock were exchanged, compared to its average volume of 5,984,544. The firm’s 50-day simple moving average is $14.43 and its 200 day simple moving average is $15.31. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 22.52 and a beta of 2.07. Macy’s, Inc. has a fifty-two week low of $12.60 and a fifty-two week high of $20.70. 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 posted its earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.25. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The company had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.76 billion. As a group, equities analysts anticipate that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.49%. 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. Macy’s’s dividend payout ratio is presently 35.44%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on M. Telsey Advisory Group set a $15.00 target price on shares of Macy’s in a report on Friday, March 7th. Cowen reaffirmed a “hold” rating on shares of Macy’s in a research report on Friday, March 7th. New Street Research set a $13.00 price objective on Macy’s in a report on Thursday, March 6th. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Finally, Citigroup reduced their price target on Macy’s from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Macy’s presently has an average rating of “Hold” and an average price target of $15.30.

Institutional Investors Weigh In On Macy’s

A number of hedge funds and other institutional investors have recently made changes to their positions in M. Trifecta Capital Advisors LLC acquired a new stake in Macy’s during the fourth quarter worth approximately $34,000. Quest Partners LLC bought a new stake in shares of Macy’s during the 3rd quarter valued at $35,000. Jones Financial Companies Lllp lifted its position in shares of Macy’s by 82.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after acquiring an additional 969 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Macy’s during the 4th quarter worth $38,000. Finally, Bessemer Group Inc. increased its position 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 worth $58,000 after purchasing an additional 2,839 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

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.