Macy’s, Inc. (NYSE:M) CFO Adrian V. Mitchell Sells 13,249 Shares

Macy’s, Inc. (NYSE:M) CFO Adrian V. Mitchell sold 13,249 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total value of $270,544.58. Following the sale, the chief financial officer now owns 99,098 shares of the company’s stock, valued at $2,023,581.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Macy’s Stock Up 4.0 %

Shares of Macy’s stock opened at $19.85 on Thursday. The stock’s 50-day moving average is $19.43 and its 200 day moving average is $16.30. Macy’s, Inc. has a one year low of $10.54 and a one year high of $22.10. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 53.64 and a beta of 2.14. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.39.

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

Macy’s Increases Dividend

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

Analyst Ratings Changes

A number of research firms recently commented on M. JPMorgan Chase & Co. boosted their price target on Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. The Goldman Sachs Group upped their target price on Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. StockNews.com began coverage on Macy’s in a report on Saturday, March 23rd. They issued a “hold” rating on the stock. TD Cowen downgraded Macy’s from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $23.00 to $20.00 in a research note on Thursday, February 29th. Finally, Morgan Stanley decreased their target price on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $17.45.

Institutional Investors Weigh In On Macy’s

Several hedge funds and other institutional investors have recently bought and sold shares of M. Vanguard Group Inc. increased its position in Macy’s by 7.8% in the 3rd quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock valued at $422,390,000 after buying an additional 2,645,577 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Macy’s by 15.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,398,149 shares of the company’s stock valued at $249,456,000 after acquiring an additional 1,685,986 shares during the period. State Street Corp increased its holdings in shares of Macy’s by 10.3% during the second quarter. State Street Corp now owns 11,241,180 shares of the company’s stock valued at $182,203,000 after acquiring an additional 1,050,825 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Macy’s by 1,054.0% in the second quarter. Point72 Asset Management L.P. now owns 10,846,841 shares of the company’s stock valued at $174,092,000 after buying an additional 9,906,912 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Macy’s by 27.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,106,073 shares of the company’s stock worth $246,184,000 after purchasing an additional 2,155,936 shares in the last quarter. 87.36% of the stock is 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.