Macy's (NYSE:M) Trading Down 15.9% - What's Next?

Shares of Macy's, Inc. (NYSE:M - Get Free Report) traded down 15.9% during mid-day trading on Thursday . The stock traded as low as $11.26 and last traded at $11.10. 3,378,997 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 6,054,961 shares. The stock had previously closed at $13.19.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Citigroup cut their target price on shares of Macy's from $16.00 to $14.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Guggenheim restated a "neutral" rating on shares of Macy's in a report on Thursday, December 12th. Benchmark raised shares of Macy's to a "strong-buy" rating in a research note on Monday, February 3rd. The Goldman Sachs Group reduced their price objective on shares of Macy's from $19.00 to $17.00 and set a "buy" rating for the company in a research note on Friday, March 7th. Finally, Morgan Stanley set a $14.00 price target on Macy's in a research note on Monday, March 10th. One equities 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 given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $15.30.

Macy's Stock Down 8.3 %

The firm's 50 day moving average is $13.84 and its two-hundred day moving average is $15.08. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 16.87 and a beta of 1.73.

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, beating analysts' consensus estimates of $1.55 by $0.25. The company had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.76 billion. Macy's had a net margin of 0.73% and a return on equity of 21.99%. On average, sell-side analysts predict that Macy's, Inc. will post 2.39 EPS for the current year.

Macy's Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.1824 dividend. The ex-dividend date was Friday, March 14th. This is a boost from Macy's's previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a dividend yield of 7.33%. Macy's's dividend payout ratio (DPR) is 35.44%.

Insider Buying and Selling

In other Macy's news, EVP Tracy M. Preston sold 2,780 shares of Macy's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $12.68, for a total transaction of $35,250.40. Following the sale, the executive vice president now owns 4,723 shares in the company, valued at $59,887.64. The trade was a 37.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Antony Spring sold 3,124 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $42,923.76. Following the sale, the chief executive officer now owns 272,680 shares of the company's stock, valued at $3,746,623.20. This trade represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,751 shares of company stock worth $537,790. Corporate insiders own 2.77% of the company's stock.

Institutional Trading of Macy's

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in M. Trifecta Capital Advisors LLC bought a new stake in shares of Macy's during the 4th quarter worth approximately $34,000. Jones Financial Companies Lllp lifted its holdings in shares of Macy's by 82.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock worth $36,000 after acquiring an additional 969 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Macy's during the 4th quarter valued at $38,000. Bessemer Group Inc. raised its position in Macy's by 495.5% in the fourth quarter. Bessemer Group Inc. now owns 3,412 shares of the company's stock valued at $58,000 after purchasing an additional 2,839 shares during the last quarter. Finally, Tompkins Financial Corp acquired a new position in shares of Macy's during the fourth quarter worth $102,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

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.