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

Macy’s, Inc. (NYSE:M) EVP Danielle L. Kirgan sold 3,274 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $20.28, for a total value of $66,396.72. Following the completion of 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 filing with the SEC, which can be accessed through this hyperlink.

Macy’s Price Performance

Shares of NYSE:M opened at $19.85 on Thursday. The company has a market capitalization of $5.44 billion, a P/E ratio of 53.64 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. The firm’s 50 day simple moving average is $19.43 and its two-hundred day simple moving average is $16.30. 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 released its earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share 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 for the quarter, compared to analysts’ expectations of $8.07 billion. During the same quarter in the previous year, the company earned $1.88 EPS. Macy’s’s revenue for the quarter was down 1.7% on a year-over-year basis. Research analysts expect that Macy’s, Inc. will post 2.57 EPS for the current fiscal year.

Macy’s Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have commented on M. StockNews.com began coverage on Macy’s in a research note on Saturday, March 23rd. They set a “hold” rating on the stock. Morgan Stanley cut their target price 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. JPMorgan Chase & Co. increased their target price on Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. TD Cowen downgraded Macy’s from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $23.00 to $20.00 in a report on Thursday, February 29th. Finally, Citigroup raised shares of Macy’s from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $14.00 to $18.00 in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $17.45.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Glassman Wealth Services lifted its stake in Macy’s by 154.5% in the 4th 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. FinTrust Capital Advisors LLC purchased a new stake in Macy’s in the 4th quarter worth $26,000. Lindbrook Capital LLC lifted its stake in Macy’s by 253.1% in the 4th 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. Atlas Capital Advisors LLC purchased a new stake in Macy’s in the 4th quarter worth $29,000. Finally, Estabrook Capital Management lifted its stake in Macy’s by 77.8% in the 1st quarter. Estabrook Capital Management now owns 1,600 shares of the company’s stock worth $39,000 after purchasing an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

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.