Macy’s (NYSE:M) Reaches New 12-Month Low After Insider Selling

Shares of Macy’s, Inc. (NYSE:M) reached a new 52-week low during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $12.48 and last traded at $12.62, with a volume of 448077 shares trading hands. The stock had previously closed at $12.81.

Specifically, EVP Adrian V. Mitchell sold 5,122 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $12.77, for a total transaction of $65,407.94. Following the transaction, the executive vice president now owns 130,491 shares in the company, valued at approximately $1,666,370.07. The trade was a 3.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Tracy M. Preston sold 2,780 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $12.68, for a total value of $35,250.40. Following the completion of the sale, the executive vice president now directly owns 4,723 shares of the company’s stock, valued at $59,887.64. This represents a 37.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CEO Antony Spring sold 20,868 shares of the company’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $12.68, for a total transaction of $264,606.24. Following the transaction, the chief executive officer now owns 321,244 shares of the company’s stock, valued at $4,073,373.92. This represents a 6.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Wall Street Analyst Weigh In

Several equities research analysts have commented on M shares. New Street Research set a $13.00 target price on shares of Macy’s in a research report on Thursday, March 6th. Morgan Stanley set a $14.00 price objective on shares of Macy’s in a research note on Monday, March 10th. StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Benchmark upgraded shares of Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. Finally, UBS Group decreased their price target on Macy’s from $9.00 to $8.00 and set a “sell” rating on the stock in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $15.30.

Macy’s Trading Up 2.4 %

The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The business has a fifty day simple moving average of $14.32 and a 200 day simple moving average of $15.25. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 21.81 and a beta of 2.07.

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

Macy’s Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.1824 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.67%. Macy’s’s payout ratio is 35.44%.

Hedge Funds Weigh In On Macy’s

Several institutional investors and hedge funds have recently modified their holdings of M. Trifecta Capital Advisors LLC purchased a new position in Macy’s during the fourth quarter worth about $34,000. Jones Financial Companies Lllp increased its stake in shares of Macy’s by 82.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after acquiring an additional 969 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of Macy’s during the 4th quarter worth about $38,000. Bessemer Group Inc. boosted its position in shares of Macy’s by 495.5% in the fourth quarter. Bessemer Group Inc. now owns 3,412 shares of the company’s stock worth $58,000 after acquiring an additional 2,839 shares during the last quarter. Finally, Tompkins Financial Corp purchased a new stake in Macy’s in the fourth quarter valued at approximately $102,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

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.