Macy’s, Inc. (NYSE:M) SVP Paul Griscom Sells 2,969 Shares

Macy’s, Inc. (NYSE:M) SVP Paul Griscom sold 2,969 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.43, for a total value of $60,656.67. Following the completion of the sale, the senior vice president now directly owns 21,436 shares of the company’s stock, valued at $437,937.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, March 25th, Paul Griscom sold 340 shares of Macy’s stock. The stock was sold at an average price of $20.29, for a total value of $6,898.60.

Macy’s Trading Up 4.0 %

Shares of M opened at $19.85 on Thursday. Macy’s, Inc. has a 1-year low of $10.54 and a 1-year high of $22.10. The company has a market capitalization of $5.44 billion, a P/E ratio of 53.64 and a beta of 2.14. 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 firm’s 50 day simple moving average is $19.43 and its 200 day simple moving average is $16.30.

Macy’s (NYSE:M) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.47. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The firm had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $8.07 billion. During the same quarter last year, the company posted $1.88 EPS. The business’s quarterly revenue was down 1.7% on a year-over-year basis. Sell-side analysts forecast that Macy’s, Inc. will post 2.57 earnings per share for the current fiscal year.

Macy’s Increases Dividend

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

Hedge Funds Weigh In On Macy’s

Several institutional investors have recently modified their holdings of M. Raymond James Financial Services Advisors Inc. boosted its stake in Macy’s by 7.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 44,210 shares of the company’s stock worth $1,077,000 after buying an additional 2,981 shares in the last quarter. US Bancorp DE boosted its stake in shares of Macy’s by 7.2% in the 1st quarter. US Bancorp DE now owns 18,576 shares of the company’s stock valued at $452,000 after purchasing an additional 1,244 shares in the last quarter. Natixis Advisors L.P. boosted its stake in shares of Macy’s by 34.4% in the 1st quarter. Natixis Advisors L.P. now owns 28,563 shares of the company’s stock valued at $696,000 after purchasing an additional 7,317 shares in the last quarter. APG Asset Management N.V. bought a new position in shares of Macy’s during the 1st quarter valued at $1,482,000. Finally, Great West Life Assurance Co. Can lifted its stake in Macy’s by 13.9% in the first quarter. Great West Life Assurance Co. Can now owns 219,731 shares of the company’s stock worth $5,550,000 after purchasing an additional 26,827 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. The Goldman Sachs Group raised their target price on Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Citigroup raised Macy’s from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $14.00 to $18.00 in a report on Friday, February 2nd. Telsey Advisory Group lifted their target price on 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 started coverage on Macy’s in a research report on Saturday, March 23rd. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. raised their price objective on shares of Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Macy’s has an average rating of “Hold” and an average price target of $17.45.

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.