Insider Selling: Macy’s, Inc. (NYSE:M) EVP Sells $307,729.40 in Stock

Macy’s, Inc. (NYSE:M) EVP Danielle L. Kirgan sold 15,070 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total transaction of $307,729.40. Following the completion of the sale, the executive vice president now directly owns 306,555 shares in the company, valued at $6,259,853.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Macy’s Stock Performance

NYSE:M opened at $19.85 on Thursday. The stock has a market cap of $5.44 billion, a P/E ratio of 53.64 and a beta of 2.14. The firm’s fifty day simple moving average is $19.43 and its 200 day simple moving average is $16.30. Macy’s, Inc. has a twelve month low of $10.54 and a twelve month high of $22.10. The company has a quick ratio of 0.39, a current ratio of 1.37 and a debt-to-equity ratio of 0.72.

Macy’s (NYSE:M) last released its quarterly earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.47. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The business had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $8.07 billion. During the same quarter in the previous year, the business posted $1.88 earnings per share. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, research analysts predict that Macy’s, Inc. will post 2.57 EPS for the current year.

Macy’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be paid a dividend of $0.1737 per share. This is an increase from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Thursday, March 14th. Macy’s’s payout ratio is currently 186.49%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. TD Cowen downgraded shares of Macy’s from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $23.00 to $20.00 in a research note on Thursday, February 29th. Citigroup upgraded shares of Macy’s from a “sell” rating to a “neutral” rating and increased their price target for the company from $14.00 to $18.00 in a research report on Friday, February 2nd. Morgan Stanley reduced their price target on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. The Goldman Sachs Group increased their price target on shares of Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Finally, Telsey Advisory Group raised their target price on shares of Macy’s from $15.00 to $21.00 and gave the stock a “market perform” rating in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Macy’s currently has a consensus rating of “Hold” and a consensus target price of $17.45.

Institutional Investors Weigh In On Macy’s

A number of large investors have recently made changes to their positions in M. Raymond James Financial Services Advisors Inc. grew its stake in shares of Macy’s by 7.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 44,210 shares of the company’s stock valued at $1,077,000 after purchasing an additional 2,981 shares during the period. US Bancorp DE grew its stake in shares of Macy’s by 7.2% during the 1st quarter. US Bancorp DE now owns 18,576 shares of the company’s stock valued at $452,000 after acquiring an additional 1,244 shares during the period. Natixis Advisors L.P. grew its stake in shares of Macy’s by 34.4% during the 1st quarter. Natixis Advisors L.P. now owns 28,563 shares of the company’s stock valued at $696,000 after acquiring an additional 7,317 shares during the period. APG Asset Management N.V. bought a new position in shares of Macy’s during the 1st quarter valued at approximately $1,482,000. Finally, Great West Life Assurance Co. Can grew its stake in shares of Macy’s by 13.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 219,731 shares of the company’s stock valued at $5,550,000 after acquiring an additional 26,827 shares during the period. 87.36% of the stock is currently owned by institutional investors.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.