Macy’s, Inc. (NYSE:M) EVP Adrian V. Mitchell Sells 5,122 Shares

Macy’s, Inc. (NYSE:M) EVP Adrian V. Mitchell sold 5,122 shares of Macy’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $12.77, for a total value of $65,407.94. Following the completion of the sale, the executive vice president now directly owns 130,491 shares in the company, valued at $1,666,370.07. This represents a 3.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Macy’s Stock Performance

NYSE M traded down $0.22 during trading on Monday, reaching $12.60. 6,535,153 shares of the company’s stock were exchanged, compared to its average volume of 6,063,796. Macy’s, Inc. has a fifty-two week low of $12.48 and a fifty-two week high of $20.70. The stock has a market capitalization of $3.50 billion, a P/E ratio of 21.35 and a beta of 2.07. The business has a 50 day moving average price of $14.38 and a 200-day moving average price of $15.28. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17.

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

Macy’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.1824 per share. 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. This represents a $0.73 annualized dividend and a dividend yield of 5.79%. Macy’s’s payout ratio is presently 35.44%.

Analyst Upgrades and Downgrades

M has been the topic of a number of recent research reports. Benchmark raised Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. Citigroup lowered their price objective on shares of Macy’s from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. UBS Group reduced 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. The Goldman Sachs Group lowered their price target on shares of Macy’s from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. downgraded shares of Macy’s from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $19.00 to $14.00 in a research note 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 stock. Based on data from MarketBeat, Macy’s presently has an average rating of “Hold” and an average target price of $15.30.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC boosted its stake in Macy’s by 22.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 28,731 shares of the company’s stock valued at $486,000 after purchasing an additional 5,332 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Macy’s during the 4th quarter worth approximately $2,591,000. Forum Financial Management LP bought a new position in shares of Macy’s during the fourth quarter worth approximately $177,000. Vise Technologies Inc. raised its position in shares of Macy’s by 37.2% in the fourth quarter. Vise Technologies Inc. now owns 23,129 shares of the company’s stock valued at $392,000 after buying an additional 6,266 shares in the last quarter. Finally, MidWestOne Financial Group Inc. boosted its stake in shares of Macy’s by 14.5% in the fourth quarter. MidWestOne Financial Group Inc. now owns 135,646 shares of the company’s stock valued at $2,296,000 after buying an additional 17,167 shares during the period. 87.36% of the stock is owned by institutional investors.

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.