Macy's, Inc. (NYSE:M) SVP Sells $18,291.23 in Stock

Macy's, Inc. (NYSE:M - Get Free Report) SVP Paul Griscom sold 1,201 shares of the business's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $15.23, for a total value of $18,291.23. Following the sale, the senior vice president now directly owns 29,232 shares in the company, valued at $445,203.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Paul Griscom also recently made the following trade(s):

• On Wednesday, July 10th, Paul Griscom sold 336 shares of Macy's stock. The stock was sold at an average price of $18.97, for a total value of $6,373.92.

Macy's Stock Down 2.7 %

Shares of NYSE M traded down $0.42 during mid-day trading on Thursday, reaching $14.88. The company had a trading volume of 6,456,382 shares, compared to its average volume of 6,750,458. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. Macy's, Inc. has a twelve month low of $10.54 and a twelve month high of $22.10. The stock's 50 day moving average is $16.75 and its 200-day moving average is $18.47. The stock has a market capitalization of $4.11 billion, a PE ratio of 496.00 and a beta of 2.18.

Macy's (NYSE:M - Get Free Report) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.23. The company had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $5.06 billion. Macy's had a return on equity of 23.14% and a net margin of 0.80%. The business's quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the business earned $0.26 EPS. As a group, equities analysts anticipate that Macy's, Inc. will post 2.73 earnings per share for the current fiscal year.

Macy's Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.1737 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.67%. The ex-dividend date of this dividend is Friday, September 13th. Macy's's payout ratio is presently 2,300.00%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Telsey Advisory Group reissued a "market perform" rating and issued a $21.00 target price on shares of Macy's in a research report on Wednesday, August 21st. TD Cowen lifted their price objective on shares of Macy's from $20.00 to $21.00 and gave the stock a "hold" rating in a research report on Wednesday, May 22nd. Morgan Stanley reduced their target price on Macy's from $18.00 to $17.00 and set an "equal weight" rating for the company in a report on Thursday, August 22nd. StockNews.com assumed coverage on Macy's in a report on Friday, August 30th. They set a "hold" rating on the stock. Finally, Evercore ISI reduced their price objective on Macy's from $22.00 to $17.00 and set an "in-line" rating for the company in a research note on Tuesday, July 16th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Macy's has an average rating of "Hold" and a consensus price target of $19.50.

Institutional Investors Weigh In On Macy's

Several institutional investors and hedge funds have recently added to or reduced their stakes in M. Atria Wealth Solutions Inc. acquired a new position in shares of Macy's during the fourth quarter valued at about $210,000. Private Advisor Group LLC raised its holdings in Macy's by 3.5% in the 4th quarter. Private Advisor Group LLC now owns 17,847 shares of the company's stock valued at $359,000 after acquiring an additional 603 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Macy's by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,371,257 shares of the company's stock worth $47,710,000 after acquiring an additional 13,712 shares during the period. Principal Securities Inc. acquired a new stake in shares of Macy's during the 4th quarter worth approximately $59,000. Finally, Teacher Retirement System of Texas increased its position in shares of Macy's by 34.6% during the fourth quarter. Teacher Retirement System of Texas now owns 60,493 shares of the company's stock valued at $1,217,000 after purchasing an additional 15,566 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy's Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.

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