Macy's, Inc. (NYSE:M - Get Free Report) CEO Antony Spring sold 3,124 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 value of $42,923.76. Following the completion of the sale, the chief executive officer now owns 272,680 shares of the company's stock, valued at approximately $3,746,623.20. This trade represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Macy's Stock Down 3.0 %
Shares of M traded down $0.40 during midday trading on Friday, hitting $12.79. The stock had a trading volume of 6,438,247 shares, compared to its average volume of 6,061,888. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 21.67 and a beta of 2.07. The company has a 50 day simple moving average of $14.38 and a two-hundred day simple moving average of $15.28. Macy's, Inc. has a twelve month low of $12.60 and a twelve month high of $20.70. 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 - Get Free Report) last released its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, topping 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 firm had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.76 billion. On average, analysts anticipate that Macy's, Inc. will post 2.39 EPS for the current year.
Macy's Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.1824 dividend. This is a positive change from Macy's's previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a yield of 5.71%. The ex-dividend date is Friday, March 14th. Macy's's payout ratio is presently 35.44%.
Hedge Funds Weigh In On Macy's
A number of large investors have recently modified their holdings of M. Charles Schwab Investment Management Inc. raised its holdings in 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 worth $41,765,000 after acquiring an additional 118,626 shares in the last quarter. FMR LLC grew its stake in Macy's by 4.4% in 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 in the last quarter. Virtu Financial LLC acquired a new position in shares of Macy's during the 3rd quarter worth approximately $594,000. HB Wealth Management LLC raised its stake in shares of Macy's by 724.1% during the 4th quarter. HB Wealth Management LLC now owns 103,584 shares of the company's stock worth $1,754,000 after purchasing an additional 91,015 shares in the last quarter. Finally, Alerus Financial NA acquired a new stake in shares of Macy's in the 3rd quarter valued at approximately $2,144,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
M has been the topic of a number of recent research reports. StockNews.com upgraded Macy's from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Guggenheim reissued a "neutral" rating on shares of Macy's in a research note on Thursday, December 12th. The Goldman Sachs Group reduced their target price on Macy's from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Friday, March 7th. Citigroup lowered their price target on 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, New Street Research set a $13.00 price objective on shares of Macy's in a research note on Thursday, March 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $15.30.
Read Our Latest Research Report on M
Macy's Company Profile
(
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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.
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