Macy's, Inc. (NYSE:M) EVP Tracy M. Preston Sells 2,780 Shares

Macy's, Inc. (NYSE:M - Get Free Report) EVP Tracy M. Preston sold 2,780 shares of Macy's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $12.68, for a total value of $35,250.40. Following the completion of the sale, the executive vice president now directly owns 4,723 shares in the company, valued at $59,887.64. This trade represents a 37.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Macy's Stock Up 2.7 %

Macy's stock traded up $0.35 during mid-day trading on Wednesday, reaching $13.22. 6,200,581 shares of the company were exchanged, compared to its average volume of 6,071,394. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The firm has a market cap of $3.67 billion, a P/E ratio of 22.41 and a beta of 2.07. Macy's, Inc. has a 12-month low of $12.48 and a 12-month high of $20.70. The business has a fifty day moving average of $14.32 and a 200 day moving average of $15.25.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.55 by $0.25. The business had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. Macy's had a net margin of 0.73% and a return on equity of 21.99%. Research analysts anticipate that Macy's, Inc. will post 2.39 earnings per share for the current fiscal year.

Remove Ads

Macy's Increases Dividend

The firm also recently announced 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 of this dividend was Friday, March 14th. This is an increase from Macy's's previous quarterly dividend of $0.17. This represents a $0.73 dividend on an annualized basis and a yield of 5.52%. Macy's's payout ratio is currently 35.44%.

Hedge Funds Weigh In On Macy's

Several institutional investors and hedge funds have recently modified their holdings of M. Charles Schwab Investment Management Inc. increased its holdings in Macy's by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company's stock worth $41,765,000 after acquiring an additional 118,626 shares in the last quarter. FMR LLC increased its stake 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 worth $73,611,000 after purchasing an additional 195,880 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Macy's during the 3rd quarter worth about $594,000. HB Wealth Management LLC lifted its stake in Macy's by 724.1% in the 4th quarter. HB Wealth Management LLC now owns 103,584 shares of the company's stock valued at $1,754,000 after buying an additional 91,015 shares in the last quarter. Finally, Alerus Financial NA acquired a new stake in Macy's in the 3rd quarter worth about $2,144,000. Hedge funds and other institutional investors own 87.36% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on M. StockNews.com upgraded Macy's from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. UBS Group lowered their price target on Macy's from $9.00 to $8.00 and set a "sell" rating for the company in a research report on Friday, March 7th. Benchmark upgraded Macy's to a "strong-buy" rating in a research report on Monday, February 3rd. Gordon Haskett cut Macy's from an "accumulate" rating to a "hold" rating in a report on Thursday, March 6th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $15.00 price target on shares of Macy's in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average 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.