Adrian V. Mitchell Sells 3,489 Shares of Macy’s, Inc. (NYSE:M) Stock

Macy’s, Inc. (NYSE:M) EVP Adrian V. Mitchell sold 3,489 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total transaction of $47,938.86. Following the completion of the transaction, the executive vice president now directly owns 116,165 shares of the company’s stock, valued at $1,596,107.10. The trade was a 2.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Macy’s Price Performance

Macy’s stock opened at $12.79 on Friday. The firm has a fifty day moving average of $14.38 and a 200-day moving average of $15.27. Macy’s, Inc. has a 52-week low of $12.60 and a 52-week high of $20.70. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $3.55 billion, a P/E ratio of 21.67 and a beta of 2.07.

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

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.1824 per share. The ex-dividend date is Friday, March 14th. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a yield of 5.71%. Macy’s’s payout ratio is 35.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on M shares. Cowen reissued a “hold” rating on shares of Macy’s in a research report on Friday, March 7th. UBS Group cut their price target on Macy’s from $9.00 to $8.00 and set a “sell” rating for the company in a report on Friday, March 7th. JPMorgan Chase & Co. downgraded Macy’s from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $19.00 to $14.00 in a research report on Thursday, March 6th. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Finally, New Street Research set a $13.00 price target on Macy’s in a report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Macy’s has an average rating of “Hold” and a consensus price target of $15.30.

Institutional Trading of Macy’s

Hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of Macy’s by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock worth $41,765,000 after acquiring an additional 118,626 shares during the last quarter. FMR LLC increased its holdings in Macy’s by 4.4% during the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company’s stock worth $73,611,000 after purchasing an additional 195,880 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Macy’s in the 3rd quarter valued at approximately $594,000. HB Wealth Management LLC boosted its stake in shares of Macy’s by 724.1% during the 4th quarter. HB Wealth Management LLC now owns 103,584 shares of the company’s stock valued at $1,754,000 after buying an additional 91,015 shares during the last quarter. Finally, Alerus Financial NA acquired a new stake in shares of Macy’s during the third quarter worth approximately $2,144,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

About Macy’s

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.