Investors Buy High Volume of Put Options on Macy’s (NYSE:M)

Macy’s, Inc. (NYSE:M) saw some unusual options trading on Tuesday. Stock traders acquired 27,822 put options on the stock. This is an increase of 38% compared to the typical volume of 20,107 put options.

Analyst Upgrades and Downgrades

A number of research firms recently commented on M. JPMorgan Chase & Co. lifted their price target on Macy’s from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. Evercore ISI cut their price target on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 16th. Telsey Advisory Group reissued a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research report on Wednesday, August 21st. Morgan Stanley decreased their price objective on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Finally, TD Cowen increased their target price on shares of Macy’s from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday, May 22nd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $19.50.

Macy’s Stock Down 1.2 %

Shares of M opened at $15.77 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.35 and a current ratio of 1.38. The stock has a market capitalization of $4.36 billion, a PE ratio of 525.50 and a beta of 2.18. The company’s 50-day simple moving average is $17.27 and its 200-day simple moving average is $18.68. Macy’s has a 1 year low of $10.54 and a 1 year high of $22.10.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.23. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. The firm had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter in the previous year, the company posted $0.26 EPS. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. Analysts forecast that Macy’s will post 2.79 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $0.1737 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.41%. Macy’s’s payout ratio is 2,300.00%.

Insider Buying and Selling at Macy’s

In other news, EVP Danielle L. Kirgan sold 24,147 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $457,827.12. Following the transaction, the executive vice president now owns 348,000 shares of the company’s stock, valued at $6,598,080. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Danielle L. Kirgan sold 24,147 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $457,827.12. Following the sale, the executive vice president now owns 348,000 shares of the company’s stock, valued at approximately $6,598,080. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Antony Spring sold 18,981 shares of Macy’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $359,879.76. Following the transaction, the chief executive officer now owns 267,265 shares in the company, valued at $5,067,344.40. The disclosure for this sale can be found here. Insiders sold a total of 43,464 shares of company stock valued at $824,081 in the last three months. 2.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Glassman Wealth Services grew its holdings in Macy’s by 154.5% in the 4th quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock valued at $25,000 after buying an additional 743 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of Macy’s in the 1st quarter valued at $27,000. Fidelis Capital Partners LLC acquired a new stake in shares of Macy’s during the first quarter worth $42,000. Future Financial Wealth Managment LLC bought a new stake in Macy’s during the 1st quarter worth approximately $50,000. Finally, EntryPoint Capital LLC acquired a new position in Macy’s during the 1st quarter worth approximately $51,000. Institutional investors own 87.36% of the company’s stock.

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.