Danielle L. Kirgan Sells 6,680 Shares of Macy’s, Inc. (NYSE:M) Stock

Macy’s, Inc. (NYSE:M) EVP Danielle L. Kirgan sold 6,680 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $19.66, for a total value of $131,328.80. Following the transaction, the executive vice president now directly owns 324,635 shares in the company, valued at approximately $6,382,324.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Macy’s Price Performance

M stock opened at $18.86 on Thursday. The stock has a 50-day moving average price of $19.58 and a two-hundred day moving average price of $16.58. The stock has a market cap of $5.17 billion, a PE ratio of 50.96 and a beta of 2.15. The company has a current ratio of 1.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.72. Macy’s, Inc. has a 1 year low of $10.54 and a 1 year high of $22.10.

Macy’s (NYSE:M) last released its 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 during 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 was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.88 EPS. 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 disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a $0.1737 dividend. This is a boost from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.69 annualized dividend and a dividend yield of 3.68%. Macy’s’s dividend payout ratio (DPR) is presently 186.49%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price target on Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. StockNews.com initiated coverage on Macy’s in a research note on Sunday. They issued a “hold” rating on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research note on Thursday, March 28th. Morgan Stanley dropped their price objective on 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. Finally, TD Cowen downgraded Macy’s from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $23.00 to $20.00 in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $17.45.

Hedge Funds Weigh In On Macy’s

Hedge funds have recently modified their holdings of the stock. Glassman Wealth Services grew its holdings in Macy’s by 154.5% during the fourth quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock worth $25,000 after purchasing an additional 743 shares during the period. Lindbrook Capital LLC grew its holdings in Macy’s by 253.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after purchasing an additional 944 shares during the period. FinTrust Capital Advisors LLC bought a new position in Macy’s during the fourth quarter worth about $26,000. Atlas Capital Advisors LLC bought a new position in Macy’s during the fourth quarter worth about $29,000. Finally, Quarry LP bought a new position in Macy’s during the first quarter worth about $33,000. Institutional investors own 87.36% of the company’s stock.

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.