Insider Selling: Macy’s, Inc. (NYSE:M) CFO Sells $270,544.58 in Stock

Macy’s, Inc. (NYSE:M) CFO Adrian V. Mitchell sold 13,249 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total transaction of $270,544.58. Following the completion of the transaction, the chief financial officer now owns 99,098 shares in the company, valued at $2,023,581.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Macy’s Stock Up 4.0 %

Shares of M stock opened at $19.85 on Thursday. Macy’s, Inc. has a one year low of $10.54 and a one year high of $22.10. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.39. The stock has a fifty day moving average price of $19.43 and a 200 day moving average price of $16.30. The stock has a market cap of $5.44 billion, a P/E ratio of 53.64 and a beta of 2.14.

Macy’s (NYSE:M) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $2.45 earnings per share (EPS) for the quarter, beating 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 company had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $8.07 billion. During the same quarter in the prior year, the company posted $1.88 EPS. The business’s revenue was down 1.7% on a year-over-year basis. Analysts predict that Macy’s, Inc. will post 2.57 earnings per share for the current year.

Macy’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be paid a $0.1737 dividend. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Thursday, March 14th. Macy’s’s dividend payout ratio is currently 186.49%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on M. Telsey Advisory Group upped their price target on shares of Macy’s from $15.00 to $21.00 and gave the company a “market perform” rating in a report on Wednesday, February 28th. StockNews.com began coverage on Macy’s in a research note on Saturday, March 23rd. They set a “hold” rating for the company. Morgan Stanley dropped their price target on Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research 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. Finally, 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 research note on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $17.45.

Hedge Funds Weigh In On Macy’s

A number of hedge funds have recently modified their holdings of M. Vanguard Group Inc. grew its position in Macy’s by 7.8% in the third quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock valued at $422,390,000 after acquiring an additional 2,645,577 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Macy’s by 15.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,398,149 shares of the company’s stock valued at $249,456,000 after purchasing an additional 1,685,986 shares in the last quarter. State Street Corp grew its holdings in shares of Macy’s by 10.3% in the 2nd quarter. State Street Corp now owns 11,241,180 shares of the company’s stock worth $182,203,000 after purchasing an additional 1,050,825 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Macy’s by 1,054.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 10,846,841 shares of the company’s stock worth $174,092,000 after purchasing an additional 9,906,912 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Macy’s by 27.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 10,106,073 shares of the company’s stock worth $246,184,000 after buying an additional 2,155,936 shares in the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

About Macy’s

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.