Macy’s, Inc. (NYSE:M) CFO Adrian V. Mitchell Sells 13,279 Shares

Macy’s, Inc. (NYSE:MGet Free Report) CFO Adrian V. Mitchell sold 13,279 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $19.63, for a total transaction of $260,666.77. Following the completion of the transaction, the chief financial officer now owns 120,457 shares in the company, valued at $2,364,570.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Macy’s Stock Down 2.5 %

Shares of Macy’s stock opened at $19.06 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.39 and a current ratio of 1.37. Macy’s, Inc. has a 52-week low of $10.54 and a 52-week high of $22.10. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 51.51 and a beta of 2.15. The company’s 50 day moving average price is $19.56 and its 200-day moving average price is $16.56.

Macy’s (NYSE:MGet Free Report) last issued its earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share (EPS) 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 analysts’ expectations of $8.07 billion. During the same quarter last year, the business earned $1.88 earnings per share. The business’s revenue was down 1.7% on a year-over-year basis. Equities research analysts forecast that Macy’s, Inc. will post 2.57 EPS for the current year.

Macy’s Increases Dividend

The company also recently announced 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 3.65%. Macy’s’s dividend payout ratio (DPR) is currently 186.49%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in M. Glassman Wealth Services lifted its stake 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 period. FinTrust Capital Advisors LLC purchased a new stake in Macy’s in the fourth quarter worth $26,000. Lindbrook Capital LLC lifted its stake in 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 acquiring an additional 944 shares during the period. Atlas Capital Advisors LLC purchased a new stake in Macy’s in the fourth quarter worth $29,000. Finally, Estabrook Capital Management lifted its stake in Macy’s by 77.8% in the first quarter. Estabrook Capital Management now owns 1,600 shares of the company’s stock worth $39,000 after acquiring an additional 700 shares during the period. Institutional investors own 87.36% of the company’s stock.

Analysts Set New Price Targets

M has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Macy’s from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Morgan Stanley decreased their price objective 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. TD Cowen cut shares of Macy’s from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $23.00 to $20.00 in a research report on Thursday, February 29th. StockNews.com initiated coverage on shares of Macy’s in a research report on Sunday. They issued a “hold” rating on the stock. Finally, Citigroup upgraded shares of 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 research report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $17.45.

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Macy’s Company Profile

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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.

Further Reading

Insider Buying and Selling by Quarter for Macy's (NYSE:M)

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