Macy’s, Inc. (NYSE:M) SVP Sells $12,029.34 in Stock

Macy’s, Inc. (NYSE:M) SVP Paul Griscom sold 942 shares of the stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $12.77, for a total transaction of $12,029.34. Following the completion of the transaction, the senior vice president now owns 33,940 shares in the company, valued at $433,413.80. The trade was a 2.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Paul Griscom also recently made the following trade(s):

• On Monday, March 31st, Paul Griscom sold 444 shares of Macy’s stock. The stock was sold at an average price of $12.67, for a total value of $5,625.48.
• On Tuesday, March 25th, Paul Griscom sold 400 shares of Macy’s stock. The shares were sold at an average price of $13.74, for a total value of $5,496.00.

Macy’s Stock Performance

NYSE M opened at $12.87 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. Macy’s, Inc. has a 1-year low of $12.48 and a 1-year high of $20.70. The business has a 50 day simple moving average of $14.32 and a two-hundred day simple moving average of $15.25. The stock has a market capitalization of $3.57 billion, a PE ratio of 21.81 and a beta of 2.07.

Macy’s (NYSE:M) last posted its 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 firm had revenue of $7.77 billion during 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%. On average, research analysts predict that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.1824 dividend. This is an increase from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.67%. Macy’s’s dividend payout ratio (DPR) is presently 35.44%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Trifecta Capital Advisors LLC bought a new stake in shares of Macy’s in the 4th quarter valued at approximately $34,000. Quest Partners LLC purchased a new stake in Macy’s during the 3rd quarter valued at $35,000. Jones Financial Companies Lllp lifted its position in Macy’s by 82.1% in the fourth 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 last quarter. Kestra Investment Management LLC purchased a new position in Macy’s during the fourth quarter worth $38,000. Finally, Bessemer Group Inc. increased its position in Macy’s by 495.5% during the fourth quarter. Bessemer Group Inc. now owns 3,412 shares of the company’s stock valued at $58,000 after acquiring an additional 2,839 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on M shares. The Goldman Sachs Group lowered their price objective on Macy’s from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Morgan Stanley set a $14.00 price target on shares of Macy’s in a research report on Monday, March 10th. JPMorgan Chase & Co. downgraded shares of Macy’s from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $19.00 to $14.00 in a research report on Thursday, March 6th. Cowen reiterated a “hold” rating on shares of Macy’s in a research note on Friday, March 7th. Finally, Gordon Haskett downgraded Macy’s from an “accumulate” rating to a “hold” rating in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $15.30.

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.