Macy’s, Inc. (NYSE:M) Director Sells $397,670.52 in Stock

Macy’s, Inc. (NYSE:M) Director Jeffrey Gennette sold 19,609 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $20.28, for a total value of $397,670.52. Following the completion of the sale, the director now directly owns 1,015,015 shares in the company, valued at approximately $20,584,504.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Jeffrey Gennette also recently made the following trade(s):

• On Friday, March 22nd, Jeffrey Gennette sold 78,567 shares of Macy’s stock. The stock was sold at an average price of $20.42, for a total value of $1,604,338.14.

Macy’s Stock Up 0.7 %

Shares of Macy’s stock opened at $19.98 on Friday. The business has a 50-day moving average of $19.47 and a 200-day moving average of $16.32. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.39. The company has a market capitalization of $5.48 billion, a PE ratio of 54.00 and a beta of 2.14. Macy’s, Inc. has a 1-year low of $10.54 and a 1-year high of $22.10.

Macy’s (NYSE:M) last announced its 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. The company had revenue of $8.12 billion during the quarter, compared to the consensus estimate 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 was down 1.7% on a year-over-year basis. During the same period last year, the firm earned $1.88 earnings per share. As a group, equities analysts forecast that Macy’s, Inc. will post 2.57 EPS for the current fiscal year.

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be given a dividend of $0.1737 per share. 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. This represents a $0.69 annualized dividend and a dividend yield of 3.48%. Macy’s’s dividend payout ratio (DPR) is presently 186.49%.

Hedge Funds Weigh In On Macy’s

Several large investors have recently modified their holdings of M. Glassman Wealth Services lifted its holdings in Macy’s by 154.5% in the fourth quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock worth $25,000 after acquiring an additional 743 shares during the last quarter. Lindbrook Capital LLC increased its stake in shares of Macy’s by 253.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock valued at $26,000 after purchasing an additional 944 shares during the period. FinTrust Capital Advisors LLC acquired a new stake in shares of Macy’s in the fourth quarter valued at approximately $26,000. Atlas Capital Advisors LLC acquired a new stake in shares of Macy’s in the fourth quarter valued at approximately $29,000. Finally, Quarry LP acquired a new stake in shares of Macy’s in the first quarter valued at approximately $33,000. Institutional investors own 87.36% of the company’s stock.

Wall Street Analysts Forecast Growth

M has been the subject of a number of research analyst reports. StockNews.com initiated coverage on Macy’s in a report on Saturday, March 23rd. They set a “hold” rating for the company. Citigroup upgraded Macy’s from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $14.00 to $18.00 in a report on Friday, February 2nd. Telsey Advisory Group restated a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a report on Thursday. JPMorgan Chase & Co. increased their price target on Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Finally, Morgan Stanley lowered their price target on Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Macy’s presently has an average rating of “Hold” and an average target price of $17.45.

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.