Macy’s, Inc. (NYSE:M) SVP Paul Griscom Sells 942 Shares

Macy’s, Inc. (NYSE:M) SVP Paul Griscom sold 942 shares of Macy’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $12.77, for a total value of $12,029.34. Following the completion of the transaction, the senior vice president now owns 33,940 shares of the company’s stock, valued at $433,413.80. The trade was a 2.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Monday, March 31st, Paul Griscom sold 444 shares of Macy’s stock. The shares were sold at an average price of $12.67, for a total transaction of $5,625.48.
• On Tuesday, March 25th, Paul Griscom sold 400 shares of Macy’s stock. The shares were sold at an average price of $13.74, for a total transaction of $5,496.00.

Macy’s Stock Down 1.7 %

Shares of NYSE M traded down $0.22 during trading on Monday, reaching $12.60. The company had a trading volume of 6,535,153 shares, compared to its average volume of 6,063,796. The stock has a market cap of $3.50 billion, a PE ratio of 21.35 and a beta of 2.07. The business’s 50-day moving average is $14.38 and its 200 day moving average is $15.28. Macy’s, Inc. has a 12-month low of $12.48 and a 12-month high of $20.70. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, March 6th. The company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.55 by $0.25. The firm had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.76 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. As a group, equities analysts forecast that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.1824 dividend. This represents a $0.73 annualized dividend and a dividend yield of 5.79%. The ex-dividend date is Friday, March 14th. This is a boost from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio is presently 35.44%.

Institutional Trading of Macy’s

A number of institutional investors have recently made changes to their positions in M. Quest Partners LLC purchased a new stake in shares of Macy’s during the 3rd quarter worth about $35,000. Charles Schwab Investment Management Inc. boosted its position in shares of Macy’s by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock worth $41,765,000 after buying an additional 118,626 shares during the period. FMR LLC lifted its holdings in Macy’s by 4.4% during the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company’s stock worth $73,611,000 after buying an additional 195,880 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Macy’s by 8.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 362,508 shares of the company’s stock worth $5,688,000 after purchasing an additional 27,985 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Macy’s by 8.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,751 shares of the company’s stock worth $1,000,000 after buying an additional 4,783 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on M shares. UBS Group lowered their price objective on shares of Macy’s from $9.00 to $8.00 and set a “sell” rating for the company in a research report on Friday, March 7th. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. New Street Research set a $13.00 price objective on Macy’s in a research report on Thursday, March 6th. JPMorgan Chase & Co. lowered Macy’s from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $19.00 to $14.00 in a research note on Thursday, March 6th. Finally, StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.30.

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.