Macy’s, Inc. (NYSE:M) CFO Adrian V. Mitchell Sells 3,437 Shares

Macy’s, Inc. (NYSE:M) CFO Adrian V. Mitchell sold 3,437 shares of Macy’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $20.28, for a total value of $69,702.36. Following the transaction, the chief financial officer now owns 104,200 shares in the company, valued at approximately $2,113,176. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Macy’s Trading Up 4.0 %

NYSE M opened at $19.85 on Thursday. The company has a market cap of $5.44 billion, a PE ratio of 53.64 and a beta of 2.14. The company has a current ratio of 1.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.72. Macy’s, Inc. has a 12 month low of $10.54 and a 12 month high of $22.10. The stock has a 50 day moving average of $19.43 and a 200-day moving average of $16.30.

Macy’s (NYSE:M) last released its quarterly earnings data on Tuesday, February 27th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $1.98 by $0.47. The company had revenue of $8.12 billion during the quarter, compared to the consensus estimate 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 for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.88 EPS. On average, equities research analysts anticipate that Macy’s, Inc. will post 2.57 EPS for the current fiscal year.

Macy’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be issued a $0.1737 dividend. This represents a $0.69 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Thursday, March 14th. This is an increase from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio is presently 186.49%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citigroup upgraded Macy’s from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $14.00 to $18.00 in a report on Friday, February 2nd. Telsey Advisory Group boosted their target price on Macy’s from $15.00 to $21.00 and gave the company a “market perform” rating in a research note on Wednesday, February 28th. The Goldman Sachs Group boosted their target price on Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. StockNews.com initiated coverage on Macy’s in a research note on Saturday, March 23rd. They issued a “hold” rating on the stock. Finally, Morgan Stanley cut their target price on 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.45.

Institutional Investors Weigh In On Macy’s

A number of large investors have recently added to or reduced their stakes in the business. Gabelli Funds LLC raised its stake in Macy’s by 0.4% in the 1st quarter. Gabelli Funds LLC now owns 129,000 shares of the company’s stock valued at $3,142,000 after acquiring an additional 500 shares during the period. SummerHaven Investment Management LLC raised its stake in Macy’s by 1.3% in the 4th quarter. SummerHaven Investment Management LLC now owns 43,046 shares of the company’s stock valued at $866,000 after acquiring an additional 554 shares during the period. Private Advisor Group LLC raised its stake in Macy’s by 3.5% in the 4th quarter. Private Advisor Group LLC now owns 17,847 shares of the company’s stock valued at $359,000 after acquiring an additional 603 shares during the period. Vontobel Holding Ltd. increased its position in Macy’s by 1.8% during the 1st quarter. Vontobel Holding Ltd. now owns 35,384 shares of the company’s stock worth $862,000 after buying an additional 640 shares during the period. Finally, Lazard Asset Management LLC increased its position in Macy’s by 52.3% during the 1st quarter. Lazard Asset Management LLC now owns 1,995 shares of the company’s stock worth $48,000 after buying an additional 685 shares during the period. 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.