Macy's, Inc. (NYSE:M) EVP Sells $65,407.94 in Stock

Macy's, Inc. (NYSE:M - Get Free Report) EVP Adrian V. Mitchell sold 5,122 shares of the company's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $12.77, for a total transaction of $65,407.94. Following the completion of the transaction, the executive vice president now owns 130,491 shares of the company's stock, valued at $1,666,370.07. This trade represents a 3.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Macy's Price Performance

M stock traded up $0.35 during midday trading on Wednesday, reaching $13.22. 6,200,581 shares of the stock were exchanged, compared to its average volume of 6,071,394. The company has a fifty day moving average price of $14.32 and a 200 day moving average price of $15.25. Macy's, Inc. has a 52 week low of $12.48 and a 52 week high of $20.70. The stock has a market capitalization of $3.67 billion, a PE ratio of 22.41 and a beta of 2.07. 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 announced its 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. 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. As a group, analysts expect that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

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Macy's Increases Dividend

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

Institutional Investors Weigh In On Macy's

A number of institutional investors and hedge funds have recently bought and sold shares of M. Trifecta Capital Advisors LLC purchased a new stake in shares of Macy's during the 4th quarter valued at $34,000. Quest Partners LLC purchased a new position in Macy's in the third quarter valued at about $35,000. Jones Financial Companies Lllp grew its position in shares of Macy's by 82.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock valued at $36,000 after acquiring an additional 969 shares during the period. Kestra Investment Management LLC purchased a new stake in shares of Macy's during the 4th quarter worth approximately $38,000. Finally, Bessemer Group Inc. raised its holdings in shares of Macy's by 495.5% in the 4th quarter. Bessemer Group Inc. now owns 3,412 shares of the company's stock worth $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

Several research analysts recently commented on the stock. New Street Research set a $13.00 target price on shares of Macy's in a report on Thursday, March 6th. Morgan Stanley set a $14.00 target price on Macy's in a research report on Monday, March 10th. Cowen reissued a "hold" rating on shares of Macy's in a research report on Friday, March 7th. StockNews.com raised Macy's from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Finally, UBS Group cut their price objective 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target 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.