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

Macy’s, Inc. (NYSE:MGet Free Report) EVP Danielle L. Kirgan sold 6,680 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $19.66, for a total transaction of $131,328.80. Following the completion of the sale, the executive vice president now owns 324,635 shares in the company, valued at $6,382,324.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Macy’s Stock Down 2.5 %

NYSE:M opened at $19.06 on Wednesday. The stock has a 50-day simple moving average of $19.56 and a 200 day simple moving average of $16.56. Macy’s, Inc. has a 52-week low of $10.54 and a 52-week high of $22.10. The company has a market cap of $5.23 billion, a PE ratio of 51.51 and a beta of 2.15. 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 (NYSE:MGet Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.47. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. The firm had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.07 billion. During the same quarter in the prior year, the firm posted $1.88 EPS. The business’s revenue was down 1.7% on a year-over-year basis. On average, sell-side analysts expect that Macy’s, Inc. will post 2.57 EPS for the current fiscal year.

Macy’s Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a $0.1737 dividend. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend was Thursday, March 14th. Macy’s’s payout ratio is presently 186.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. The Goldman Sachs Group upped their target price on shares of Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. lifted their target price on Macy’s from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. TD Cowen downgraded Macy’s from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $23.00 to $20.00 in a report on Thursday, February 29th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 price target on shares of Macy’s in a research report on Thursday, March 28th. Finally, StockNews.com initiated coverage on Macy’s in a research report on Sunday. They issued a “hold” rating for the company. 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, the company currently has a consensus rating of “Hold” and an average price target of $17.45.

Get Our Latest Stock Analysis on M

Institutional Investors Weigh In On Macy’s

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its stake in Macy’s by 8.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 133,126 shares of the company’s stock valued at $2,679,000 after purchasing an additional 10,508 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Macy’s by 2.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 126,161 shares of the company’s stock valued at $2,538,000 after buying an additional 3,092 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Macy’s in the fourth quarter valued at $297,000. Legal & General Group Plc increased its holdings in Macy’s by 0.8% during the fourth quarter. Legal & General Group Plc now owns 755,204 shares of the company’s stock worth $15,195,000 after buying an additional 6,206 shares during the last quarter. Finally, Atlas Capital Advisors LLC bought a new stake in Macy’s during the fourth quarter worth $29,000. 87.36% of the stock is owned by institutional investors.

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.

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