Macy's, Inc. (NYSE:M - Get Free Report) EVP Adrian V. Mitchell sold 3,489 shares of Macy's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total transaction of $47,938.86. Following the completion of the sale, the executive vice president now owns 116,165 shares in the company, valued at approximately $1,596,107.10. This represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Macy's Price Performance
Shares of NYSE M traded down $0.40 during mid-day trading on Friday, reaching $12.79. The company had a trading volume of 6,438,247 shares, compared to its average volume of 6,061,888. The company has a 50-day moving average price of $14.38 and a two-hundred day moving average price of $15.28. The stock has a market cap of $3.55 billion, a PE ratio of 21.67 and a beta of 2.07. 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, Inc. has a 1-year low of $12.60 and a 1-year high of $20.70.
Macy's (NYSE:M - Get Free Report) last posted its quarterly earnings data on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.76 billion. On average, equities analysts anticipate that Macy's, Inc. will post 2.39 earnings per share for the current year.
Macy's Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.1824 per share. This represents a $0.73 annualized dividend and a yield of 5.71%. This is a boost from Macy's's previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, March 14th. Macy's's payout ratio is presently 35.44%.
Wall Street Analyst Weigh In
Several analysts recently commented on the company. Morgan Stanley set a $14.00 target price on Macy's in a research report on Monday, March 10th. JPMorgan Chase & Co. cut shares of Macy's from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $19.00 to $14.00 in a research note on Thursday, March 6th. Telsey Advisory Group set a $15.00 target price on shares of Macy's in a research report on Friday, March 7th. StockNews.com upgraded shares of Macy's from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Finally, Cowen reiterated a "hold" rating on shares of Macy's in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $15.30.
Check Out Our Latest Stock Analysis on M
Institutional Trading of Macy's
Large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 valued at $41,765,000 after purchasing an additional 118,626 shares during the period. FMR LLC grew its position in 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 in the last quarter. Virtu Financial LLC acquired a new position in Macy's in the 3rd quarter valued at approximately $594,000. HB Wealth Management LLC lifted its position in Macy's by 724.1% in the 4th quarter. HB Wealth Management LLC now owns 103,584 shares of the company's stock worth $1,754,000 after buying an additional 91,015 shares in the last quarter. Finally, Alerus Financial NA acquired a new stake in shares of Macy's during the 3rd quarter valued at $2,144,000. 87.36% of the stock is owned by institutional investors and hedge funds.
About Macy's
(
Get Free Report)
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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