Macy's, Inc. (NYSE:M - Get Free Report) SVP Paul Griscom sold 942 shares of the company's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $12.77, for a total transaction of $12,029.34. Following the completion of the sale, the senior vice president now owns 33,940 shares of the company's stock, valued at approximately $433,413.80. The trade was a 2.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
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 transaction 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 Stock Performance
Shares of NYSE M traded down $1.82 during mid-day trading on Thursday, hitting $11.37. The company had a trading volume of 7,657,367 shares, compared to its average volume of 6,071,440. 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 $11.04 and a 1 year high of $20.70. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 19.27 and a beta of 2.07. The stock's 50-day moving average price is $14.30 and its 200-day moving average price is $15.24.
Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings data 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 net margin of 0.73% and a return on equity of 21.99%. The company had revenue of $7.77 billion during the quarter, compared to analysts' expectations of $7.76 billion. On average, sell-side analysts forecast that Macy's, Inc. will post 2.39 earnings per share for the current year.
Macy's Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a dividend of $0.1824 per share. This is a positive change from Macy's's previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.73 annualized dividend and a yield of 6.42%. Macy's's dividend payout ratio (DPR) is currently 35.44%.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on M shares. Morgan Stanley set a $14.00 price objective on Macy's in a research note on Monday, March 10th. Guggenheim restated a "neutral" rating on shares of Macy's in a research report on Thursday, December 12th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $15.00 price objective on shares of Macy's in a research report on Wednesday. Citigroup reduced their price objective on Macy's from $16.00 to $14.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Finally, Benchmark upgraded Macy's to a "strong-buy" rating in a research note on Monday, February 3rd. One research 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. Based on data from MarketBeat, Macy's currently has an average rating of "Hold" and an average price target of $15.30.
Check Out Our Latest Analysis on M
Hedge Funds Weigh In On Macy's
Institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Macy's during the 4th quarter valued at about $96,689,000. Junto Capital Management LP bought a new stake in Macy's during the fourth quarter valued at approximately $48,775,000. FMR LLC grew its stake in Macy's by 59.9% in the 4th quarter. FMR LLC now owns 7,503,742 shares of the company's stock worth $127,038,000 after buying an additional 2,812,151 shares in the last quarter. Marshall Wace LLP grew its stake in Macy's by 1,230.8% in the 4th quarter. Marshall Wace LLP now owns 2,387,193 shares of the company's stock worth $40,415,000 after buying an additional 2,207,809 shares in the last quarter. Finally, Cooper Creek Partners Management LLC increased its holdings in shares of Macy's by 26.2% in the 4th quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company's stock worth $132,701,000 after buying an additional 1,627,572 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors.
About Macy's
(
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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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