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 firm’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total transaction of $47,938.86. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Macy’s Stock Performance

Macy’s stock opened at $13.17 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. The firm has a market capitalization of $3.66 billion, a P/E ratio of 22.31 and a beta of 2.07. Macy’s, Inc. has a 1-year low of $12.60 and a 1-year high of $20.70. The company’s 50-day moving average is $14.41 and its 200 day moving average is $15.28.

Macy’s (NYSE:M) last issued its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.25. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The firm had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.76 billion. Research analysts forecast that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.1824 per share. This represents a $0.73 annualized dividend and a dividend yield of 5.54%. This is an increase from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, March 14th. Macy’s’s dividend payout ratio (DPR) is 35.44%.

Institutional Trading of Macy’s

Large investors have recently made changes to their positions in the stock. Trifecta Capital Advisors LLC bought a new stake in Macy’s during the 4th quarter valued at about $34,000. Quest Partners LLC bought a new position in Macy’s in the 3rd quarter worth about $35,000. Jones Financial Companies Lllp increased its position in shares of Macy’s by 82.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after acquiring an additional 969 shares during the period. Kestra Investment Management LLC bought a new stake in shares of Macy’s during the fourth quarter valued at approximately $38,000. Finally, Bessemer Group Inc. boosted its holdings in shares of Macy’s by 495.5% in the fourth quarter. Bessemer Group Inc. now owns 3,412 shares of the company’s stock valued at $58,000 after purchasing an additional 2,839 shares during the period. 87.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on M shares. Cowen restated a “hold” rating on shares of Macy’s in a research report on Friday, March 7th. JPMorgan Chase & Co. cut Macy’s from an “overweight” rating to a “neutral” rating and cut their price target for the company from $19.00 to $14.00 in a report on Thursday, March 6th. Morgan Stanley set a $14.00 price objective on Macy’s in a research note on Monday, March 10th. UBS Group cut their target price on shares of Macy’s from $9.00 to $8.00 and set a “sell” rating for the company in a report on Friday, March 7th. Finally, Telsey Advisory Group set a $15.00 price target on shares of Macy’s in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Macy’s has an average rating of “Hold” and an average target price of $15.30.

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.