Adrian V. Mitchell Sells 3,437 Shares of Macy’s, Inc. (NYSE:M) Stock

Macy’s, Inc. (NYSE:M) CFO Adrian V. Mitchell sold 3,437 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $20.28, for a total transaction of $69,702.36. Following the completion of the transaction, the chief financial officer now owns 104,200 shares of the company’s stock, valued at approximately $2,113,176. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Macy’s Price Performance

M stock opened at $19.85 on Thursday. 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 one year low of $10.54 and a one year high of $22.10. The firm has a market capitalization of $5.44 billion, a PE ratio of 53.64 and a beta of 2.14. The firm has a 50-day moving average of $19.43 and a two-hundred day moving average of $16.30.

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

Macy’s Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, March 14th. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.69 dividend on an annualized basis and a yield of 3.50%. Macy’s’s dividend payout ratio is currently 186.49%.

Institutional Trading of Macy’s

Hedge funds have recently made changes to their positions in the stock. Glassman Wealth Services lifted its position in shares of 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 purchasing an additional 743 shares in the last quarter. Lindbrook Capital LLC lifted its position 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 worth $26,000 after purchasing an additional 944 shares in the last quarter. FinTrust Capital Advisors LLC purchased a new stake in shares of Macy’s in the fourth quarter worth approximately $26,000. Atlas Capital Advisors LLC purchased a new stake in shares of Macy’s in the fourth quarter worth approximately $29,000. Finally, Quarry LP acquired a new position in Macy’s in the first quarter worth approximately $33,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Macy’s in a research report on Saturday, March 23rd. They issued a “hold” rating for the company. TD Cowen downgraded shares of Macy’s from an “outperform” rating to a “market perform” rating and cut their price target for the company from $23.00 to $20.00 in a report on Thursday, February 29th. Citigroup raised shares of Macy’s from a “sell” rating to a “neutral” rating and upped their price target for the company from $14.00 to $18.00 in a report on Friday, February 2nd. Morgan Stanley cut their price target on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group upped their price target 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 research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Macy’s presently has an average rating of “Hold” and a consensus price target 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.