Insider Selling: Macy’s, Inc. (NYSE:M) Director Sells 19,609 Shares of Stock

Macy’s, Inc. (NYSE:M) Director Jeffrey Gennette sold 19,609 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $20.28, for a total value of $397,670.52. Following the transaction, the director now directly owns 1,015,015 shares in the company, valued at $20,584,504.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Jeffrey Gennette also recently made the following trade(s):

• On Friday, March 22nd, Jeffrey Gennette sold 78,567 shares of Macy’s stock. The stock was sold at an average price of $20.42, for a total value of $1,604,338.14.

Macy’s Stock Up 4.0 %

NYSE:M opened at $19.85 on Thursday. Macy’s, Inc. has a 12-month low of $10.54 and a 12-month high of $22.10. The company has a quick ratio of 0.39, a current ratio of 1.37 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $5.44 billion, a P/E ratio of 53.64 and a beta of 2.14. The stock’s fifty day simple moving average is $19.43 and its 200-day simple moving average is $16.30.

Macy’s (NYSE:M) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.47. The business had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.07 billion. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. The firm’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the company earned $1.88 EPS. Equities research analysts expect that Macy’s, Inc. will post 2.57 earnings per share for the current year.

Macy’s Increases Dividend

The firm 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. The ex-dividend date is Thursday, March 14th. 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 3.50%. Macy’s’s payout ratio is currently 186.49%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Glassman Wealth Services boosted its position in shares of Macy’s by 154.5% during the fourth quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock worth $25,000 after buying an additional 743 shares during the period. Lindbrook Capital LLC raised its holdings in Macy’s by 253.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after acquiring an additional 944 shares in the last quarter. FinTrust Capital Advisors LLC bought a new stake in Macy’s during the fourth quarter worth about $26,000. Atlas Capital Advisors LLC bought a new stake in Macy’s during the fourth quarter worth about $29,000. Finally, Quarry LP bought a new stake in Macy’s during the first quarter worth about $33,000. 87.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Telsey Advisory Group upped their target price on Macy’s from $15.00 to $21.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. The Goldman Sachs Group upped their target price on Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. upped their target price on Macy’s from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. StockNews.com assumed coverage on Macy’s in a research report on Saturday, March 23rd. They issued a “hold” rating on the stock. Finally, Morgan Stanley dropped their target price on Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Macy’s currently has a consensus rating of “Hold” and a consensus price target of $17.45.

About Macy’s

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.