Macy’s, Inc. (NYSE:M) EVP Danielle L. Kirgan Sells 3,274 Shares

Macy’s, Inc. (NYSE:M) EVP Danielle L. Kirgan sold 3,274 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $20.28, for a total transaction of $66,396.72. Following the sale, the executive vice president now owns 311,820 shares in the company, valued at approximately $6,323,709.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Macy’s Stock Up 4.0 %

Shares of NYSE M opened at $19.85 on Thursday. Macy’s, Inc. has a 52-week low of $10.54 and a 52-week high of $22.10. The company’s 50-day simple moving average is $19.43 and its 200-day simple moving average is $16.30. 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 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 announced its earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, topping 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 firm had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $8.07 billion. During the same period in the prior year, the firm earned $1.88 EPS. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. Equities analysts predict that Macy’s, Inc. will post 2.57 EPS for the current fiscal year.

Macy’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors 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 annualized dividend and a yield of 3.50%. The ex-dividend date is Thursday, March 14th. Macy’s’s dividend payout ratio is presently 186.49%.

Institutional Investors Weigh In On Macy’s

A number of large investors have recently modified their holdings of M. Point72 Asset Management L.P. increased its position in shares of Macy’s by 1,054.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 10,846,841 shares of the company’s stock valued at $174,092,000 after purchasing an additional 9,906,912 shares during the last quarter. Holocene Advisors LP increased its position in shares of Macy’s by 171.1% in the 2nd quarter. Holocene Advisors LP now owns 5,582,759 shares of the company’s stock valued at $89,603,000 after purchasing an additional 3,523,368 shares during the last quarter. Norges Bank purchased a new stake in shares of Macy’s in the 4th quarter valued at approximately $62,529,000. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 2,645,577 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its position in shares of Macy’s by 196.2% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 3,453,241 shares of the company’s stock valued at $71,309,000 after purchasing an additional 2,287,287 shares during the last quarter. 87.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Morgan Stanley dropped 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. StockNews.com assumed coverage on shares of Macy’s in a research report on Saturday, March 23rd. They set a “hold” rating on the stock. JPMorgan Chase & Co. raised their price target on shares of Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Telsey Advisory Group raised their price target on shares of Macy’s from $15.00 to $21.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. Finally, The Goldman Sachs Group increased their price objective on shares of Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.45.

About Macy’s

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.