Macy’s, Inc. (NYSE:M) EVP Adrian V. Mitchell Sells 5,122 Shares

Macy’s, Inc. (NYSE:M) EVP Adrian V. Mitchell sold 5,122 shares of the company’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $12.77, for a total transaction of $65,407.94. Following the completion of the transaction, the executive vice president now directly owns 130,491 shares in the company, valued at $1,666,370.07. This trade represents a 3.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Macy’s Price Performance

NYSE M opened at $13.22 on Thursday. The stock has a 50-day simple moving average of $14.30 and a 200 day simple moving average of $15.24. Macy’s, Inc. has a twelve month low of $12.48 and a twelve month high of $20.70. The stock has a market capitalization of $3.67 billion, a PE ratio of 22.41 and a beta of 2.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26.

Macy’s (NYSE:M) last posted its quarterly earnings data on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.25. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The company had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.76 billion. Research analysts anticipate that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.1824 per share. This is an increase from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, March 14th. This represents a $0.73 annualized dividend and a dividend yield of 5.52%. Macy’s’s payout ratio is presently 35.44%.

Analyst Ratings Changes

M has been the topic of several research reports. The Goldman Sachs Group dropped their target price on Macy’s from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. New Street Research set a $13.00 price target on shares of Macy’s in a report on Thursday, March 6th. Finally, Morgan Stanley set a $14.00 price objective on shares of Macy’s in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $15.30.

Institutional Investors Weigh In On Macy’s

Hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Macy’s in the 4th quarter valued at $96,689,000. Junto Capital Management LP acquired a new position in Macy’s in the fourth quarter worth about $48,775,000. FMR LLC lifted its stake in Macy’s by 59.9% during the fourth quarter. FMR LLC now owns 7,503,742 shares of the company’s stock worth $127,038,000 after purchasing an additional 2,812,151 shares during the period. Marshall Wace LLP grew its stake in shares of Macy’s by 1,230.8% in the 4th quarter. Marshall Wace LLP now owns 2,387,193 shares of the company’s stock valued at $40,415,000 after purchasing an additional 2,207,809 shares during the period. Finally, Cooper Creek Partners Management LLC raised its holdings in shares of Macy’s by 26.2% in the 4th quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company’s stock worth $132,701,000 after buying an additional 1,627,572 shares in the last quarter. Institutional investors own 87.36% of the company’s stock.

Macy’s Company Profile

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.