Macy’s, Inc. (NYSE:M) EVP Sells $65,407.94 in Stock

Macy’s, Inc. (NYSE:M) EVP Adrian V. Mitchell sold 5,122 shares of the firm’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $12.77, for a total transaction of $65,407.94. Following the sale, the executive vice president now directly owns 130,491 shares of the company’s stock, valued at approximately $1,666,370.07. The trade was a 3.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Macy’s Trading Down 1.7 %

NYSE M opened at $12.60 on Tuesday. 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, Inc. has a one year low of $12.48 and a one year high of $20.70. The company has a 50-day simple moving average of $14.36 and a 200-day simple moving average of $15.26. The firm has a market capitalization of $3.50 billion, a PE ratio of 21.35 and a beta of 2.07.

Macy’s (NYSE:M) last issued its earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.25. The company had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.76 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. On average, equities analysts forecast that Macy’s, Inc. will post 2.39 earnings per share for the current year.

Macy’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.1824 per share. This is an increase from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date of this dividend is Friday, March 14th. Macy’s’s dividend payout ratio is presently 35.44%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on M shares. Benchmark raised shares of Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. UBS Group reduced their price target on Macy’s from $9.00 to $8.00 and set a “sell” rating for the company in a report on Friday, March 7th. Telsey Advisory Group set a $15.00 price objective on Macy’s in a report on Friday, March 7th. Citigroup reduced their target price on Macy’s from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. lowered shares of Macy’s from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $19.00 to $14.00 in a research note on Thursday, March 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Macy’s 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 have recently added to or reduced their stakes in M. Wealth Enhancement Advisory Services LLC grew its position in shares of Macy’s by 22.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 28,731 shares of the company’s stock worth $486,000 after acquiring an additional 5,332 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Macy’s during the 4th quarter valued at about $2,591,000. Forum Financial Management LP acquired a new position in Macy’s during the 4th quarter valued at about $177,000. Vise Technologies Inc. grew its position in Macy’s by 37.2% in the 4th quarter. Vise Technologies Inc. now owns 23,129 shares of the company’s stock worth $392,000 after purchasing an additional 6,266 shares during the last quarter. Finally, MidWestOne Financial Group Inc. increased its stake in shares of Macy’s by 14.5% in the fourth quarter. MidWestOne Financial Group Inc. now owns 135,646 shares of the company’s stock valued at $2,296,000 after purchasing an additional 17,167 shares during the period. 87.36% of the stock is currently owned by institutional investors.

Macy’s Company Profile

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.