Macy’s, Inc. (NYSE:M) CFO Sells $69,702.36 in Stock

Macy’s, Inc. (NYSE:M) CFO Adrian V. Mitchell sold 3,437 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $20.28, for a total transaction of $69,702.36. Following the completion of the transaction, the chief financial officer now directly owns 104,200 shares in the company, valued at $2,113,176. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Macy’s Trading Down 2.4 %

Shares of M stock traded down $0.48 during trading hours on Tuesday, reaching $19.15. 5,181,564 shares of the stock were exchanged, compared to its average volume of 8,464,878. The company has a current ratio of 1.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.72. Macy’s, Inc. has a 12-month low of $10.54 and a 12-month high of $22.10. The company’s 50-day moving average price is $19.38 and its 200-day moving average price is $16.22. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 52.19 and a beta of 2.14.

Macy’s (NYSE:M) last released its earnings results on Tuesday, February 27th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.47. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The business had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $8.07 billion. During the same quarter in the previous year, the company earned $1.88 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, equities analysts anticipate that Macy’s, Inc. will post 2.57 earnings per share for the current year.

Macy’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be issued a $0.1737 dividend. The ex-dividend date is Thursday, March 14th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.63%. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio is currently 186.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Morgan Stanley reduced their target price on Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 28th. Citigroup upgraded Macy’s from a “sell” rating to a “neutral” rating and upped their price target for the stock from $14.00 to $18.00 in a report on Friday, February 2nd. TD Cowen cut Macy’s from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $23.00 to $20.00 in a research report on Thursday, February 29th. The Goldman Sachs Group raised their price objective on shares of Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. raised their price target on Macy’s from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.45.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in M. Vanguard Group Inc. lifted its position in shares of Macy’s by 7.8% during the 3rd quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock worth $422,390,000 after purchasing an additional 2,645,577 shares during the last quarter. Deutsche Bank AG raised its stake in Macy’s by 260.8% during the 3rd quarter. Deutsche Bank AG now owns 2,547,529 shares of the company’s stock valued at $29,577,000 after acquiring an additional 1,841,432 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Macy’s by 15.7% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 544,534 shares of the company’s stock valued at $6,322,000 after acquiring an additional 73,924 shares during the last quarter. Cartenna Capital LP purchased a new stake in shares of Macy’s during the second quarter worth approximately $8,025,000. Finally, American Century Companies Inc. raised its holdings in Macy’s by 20.8% during the third quarter. American Century Companies Inc. now owns 3,287,930 shares of the company’s stock worth $38,173,000 after purchasing an additional 565,269 shares in the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

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.