Insider Selling: Macy’s, Inc. (NYSE:M) SVP Sells $12,029.34 in Stock

Macy’s, Inc. (NYSE:M) SVP Paul Griscom sold 942 shares of the business’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $12.77, for a total transaction of $12,029.34. Following the completion of the transaction, the senior vice president now owns 33,940 shares in the company, valued at $433,413.80. The trade was a 2.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Paul Griscom also recently made the following trade(s):

• On Monday, March 31st, Paul Griscom sold 444 shares of Macy’s stock. The stock was sold at an average price of $12.67, for a total value of $5,625.48.
• On Tuesday, March 25th, Paul Griscom sold 400 shares of Macy’s stock. The shares were sold at an average price of $13.74, for a total value of $5,496.00.

Macy’s Trading Up 2.7 %

Macy’s stock opened at $13.22 on Thursday. Macy’s, Inc. has a 12 month low of $12.48 and a 12 month high of $20.70. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 22.41 and a beta of 2.07. The business’s fifty day simple moving average is $14.30 and its two-hundred day simple moving average is $15.24. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67.

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

Macy’s Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.1824 per share. The ex-dividend date was Friday, March 14th. This represents a $0.73 annualized dividend and a dividend yield of 5.52%. This is an increase from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio (DPR) is 35.44%.

Hedge Funds Weigh In On Macy’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC purchased a new position in Macy’s in the 3rd quarter worth about $35,000. Charles Schwab Investment Management Inc. raised its holdings 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 valued at $41,765,000 after purchasing an additional 118,626 shares during the last quarter. FMR LLC raised its holdings in shares of Macy’s by 4.4% during the third quarter. FMR LLC now owns 4,691,591 shares of the company’s stock valued at $73,611,000 after purchasing an additional 195,880 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Macy’s by 8.4% during the third quarter. BNP Paribas Financial Markets now owns 362,508 shares of the company’s stock valued at $5,688,000 after purchasing an additional 27,985 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Macy’s by 8.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,751 shares of the company’s stock worth $1,000,000 after purchasing an additional 4,783 shares during the last quarter. 87.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Guggenheim reissued a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. Telsey Advisory Group reissued a “market perform” rating and set a $15.00 price objective on shares of Macy’s in a research report on Wednesday. UBS Group cut their target price on shares of Macy’s from $9.00 to $8.00 and set a “sell” rating on the stock in a research note on Friday, March 7th. Citigroup decreased their price target on shares of Macy’s from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Finally, Gordon Haskett cut Macy’s from an “accumulate” rating to a “hold” rating in a research report on Thursday, March 6th. One 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.30.

Macy’s Company Profile

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.