Macy's (NYSE:M) Reaches New 1-Year Low After Insider Selling

Macy's, Inc. (NYSE:M - Get Free Report) shares hit a new 52-week low on Monday after an insider sold shares in the company. The stock traded as low as $12.48 and last traded at $12.62, with a volume of 448077 shares traded. The stock had previously closed at $12.81.

Specifically, EVP Adrian V. Mitchell sold 5,122 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $12.77, for a total value of $65,407.94. Following the completion of the transaction, the executive vice president now owns 130,491 shares in the company, 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 SEC, which can be accessed through the SEC website. Also, EVP Tracy M. Preston sold 2,780 shares of Macy's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $12.68, for a total transaction of $35,250.40. Following the completion of the transaction, the executive vice president now directly owns 4,723 shares in the company, valued at approximately $59,887.64. This trade represents a 37.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CEO Antony Spring sold 20,868 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $12.68, for a total value of $264,606.24. Following the completion of the sale, the chief executive officer now owns 321,244 shares in the company, valued at $4,073,373.92. This represents a 6.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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Analysts Set New Price Targets

A number of brokerages have commented on M. Telsey Advisory Group restated a "market perform" rating and set a $15.00 price objective on shares of Macy's in a research report on Wednesday. Benchmark raised shares of Macy's to a "strong-buy" rating in a research note on Monday, February 3rd. UBS Group reduced 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. Guggenheim restated a "neutral" rating on shares of Macy's in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group cut their price target on Macy's from $19.00 to $17.00 and set a "buy" rating for the company in a research note on Friday, March 7th. One research 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. According to data from MarketBeat, Macy's currently has an average rating of "Hold" and an average target price of $15.30.

Macy's Price Performance

The company has a market capitalization of $3.19 billion, a P/E ratio of 19.45 and a beta of 2.07. The stock's fifty day simple moving average is $14.23 and its 200-day simple moving average is $15.21. 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 earnings results on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $7.76 billion. On average, equities analysts forecast that Macy's, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy's Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.1824 dividend. This represents a $0.73 annualized dividend and a yield of 6.35%. This is a positive change from Macy's's previous quarterly dividend of $0.17. The ex-dividend date was Friday, March 14th. Macy's's dividend payout ratio (DPR) is currently 35.44%.

Hedge Funds Weigh In On Macy's

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in Macy's by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,751,211 shares of the company's stock worth $266,666,000 after purchasing an additional 1,149,454 shares in the last quarter. Cooper Creek Partners Management LLC lifted its position in shares of Macy's by 26.2% during 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 period. FMR LLC boosted 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 valued at $127,038,000 after buying an additional 2,812,151 shares in the last quarter. American Century Companies Inc. grew its position in Macy's by 12.2% in the fourth quarter. American Century Companies Inc. now owns 7,137,132 shares of the company's stock valued at $120,832,000 after acquiring an additional 774,693 shares during the period. Finally, Norges Bank acquired a new position in Macy's during the fourth quarter worth $96,689,000. Institutional investors and hedge funds own 87.36% of the company's stock.

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.