Macy's, Inc. (NYSE:M - Get Free Report) CEO Antony Spring sold 3,124 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $42,923.76. Following the sale, the chief executive officer now directly owns 272,680 shares of the company's stock, valued at approximately $3,746,623.20. This trade represents a 1.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Macy's Price Performance
M stock opened at $13.29 on Thursday. Macy's, Inc. has a one year low of $12.60 and a one year high of $20.70. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. The stock has a market cap of $3.69 billion, a PE ratio of 22.52 and a beta of 2.07. The firm has a 50 day simple moving average of $14.42 and a two-hundred day simple moving average of $15.30.
Macy's (NYSE:M - Get Free Report) last released its earnings results 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 analysts' expectations of $7.76 billion. On average, analysts predict that Macy's, Inc. will post 2.39 EPS for the current fiscal year.
Macy's Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.49%. This is a boost from Macy's's previous quarterly dividend of $0.17. The ex-dividend date is Friday, March 14th. Macy's's dividend payout ratio (DPR) is currently 35.44%.
Institutional Trading of Macy's
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Trifecta Capital Advisors LLC bought a new stake in shares of Macy's in the 4th quarter valued at about $34,000. Jones Financial Companies Lllp lifted its position in Macy's by 82.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock valued at $36,000 after purchasing an additional 969 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Macy's during the third quarter valued at approximately $35,000. Kestra Investment Management LLC bought a new position in shares of Macy's in the fourth quarter worth approximately $38,000. Finally, Bessemer Group Inc. increased its stake 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 buying an additional 2,839 shares during the period. Hedge funds and other institutional investors own 87.36% of the company's stock.
Analysts Set New Price Targets
M has been the subject of several research reports. The Goldman Sachs Group reduced their target price on Macy's from $19.00 to $17.00 and set a "buy" rating for the company in a research note on Friday, March 7th. Cowen reissued a "hold" rating on shares of Macy's in a research report on Friday, March 7th. JPMorgan Chase & Co. downgraded Macy's from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $19.00 to $14.00 in a research report on Thursday, March 6th. UBS Group reduced their price objective on Macy's from $9.00 to $8.00 and set a "sell" rating for the company in a research note on Friday, March 7th. Finally, StockNews.com upgraded 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 issued a strong buy rating to the company. According to MarketBeat.com, Macy's currently has an average rating of "Hold" and an average price target of $15.30.
Check Out Our Latest Research Report on Macy's
About Macy's
(
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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.
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