Adrian V. Mitchell Sells 13,249 Shares of Macy’s, Inc. (NYSE:M) Stock

Macy’s, Inc. (NYSE:M) CFO Adrian V. Mitchell sold 13,249 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $270,544.58. Following the sale, the chief financial officer now directly owns 99,098 shares in the company, valued at approximately $2,023,581.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Macy’s Stock Down 2.8 %

Macy’s stock opened at $19.09 on Wednesday. The company’s 50 day simple moving average is $19.39 and its 200 day simple moving average is $16.27. Macy’s, Inc. has a fifty-two week low of $10.54 and a fifty-two week high of $22.10. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 51.59 and a beta of 2.14. 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 announced its earnings results on Tuesday, February 27th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $1.98 by $0.47. The firm had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $8.07 billion. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the company posted $1.88 EPS. As a group, sell-side analysts anticipate that Macy’s, Inc. will post 2.57 EPS for the current year.

Macy’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be issued a dividend of $0.1737 per share. This is an increase from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a yield of 3.64%. The ex-dividend date is Thursday, March 14th. Macy’s’s dividend payout ratio (DPR) is 186.49%.

Institutional Trading of Macy’s

Several hedge funds have recently bought and sold shares of M. Point72 Asset Management L.P. raised its holdings in shares of Macy’s by 1,054.0% in the second quarter. Point72 Asset Management L.P. now owns 10,846,841 shares of the company’s stock valued at $174,092,000 after purchasing an additional 9,906,912 shares during the last quarter. Holocene Advisors LP raised its holdings in shares of Macy’s by 171.1% in the second quarter. Holocene Advisors LP now owns 5,582,759 shares of the company’s stock valued at $89,603,000 after purchasing an additional 3,523,368 shares during the last quarter. Norges Bank acquired a new stake in shares of Macy’s in the fourth quarter valued at approximately $62,529,000. Vanguard Group Inc. raised its holdings in shares of Macy’s by 7.8% in the third quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock valued at $422,390,000 after purchasing an additional 2,645,577 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its holdings in shares of Macy’s by 196.2% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 3,453,241 shares of the company’s stock valued at $71,309,000 after purchasing an additional 2,287,287 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

M has been the topic of several recent research reports. StockNews.com initiated coverage on shares of Macy’s in a research note on Saturday. They issued a “hold” rating on the stock. TD Cowen lowered shares of Macy’s from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $23.00 to $20.00 in a research note on Thursday, February 29th. Citigroup raised shares of Macy’s from a “sell” rating to a “neutral” rating and raised their target price for the company from $14.00 to $18.00 in a research note on Friday, February 2nd. Morgan Stanley reduced their target price on shares of 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. Finally, JPMorgan Chase & Co. raised their target price on shares of Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Macy’s has an average rating of “Hold” and a consensus price target of $17.45.

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.