Macy's, Inc. (NYSE:M - Get Free Report) SVP Paul Griscom sold 942 shares of the firm's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $12.77, for a total transaction of $12,029.34. Following the completion of the transaction, the senior vice president now directly owns 33,940 shares in the company, valued at approximately $433,413.80. This represents a 2.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
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 value of $5,625.48.
- On Tuesday, March 25th, Paul Griscom sold 400 shares of Macy's stock. The stock was sold at an average price of $13.74, for a total value of $5,496.00.
Macy's Stock Down 1.7 %
Shares of Macy's stock opened at $12.60 on Tuesday. The business has a 50-day moving average price of $14.36 and a 200 day moving average price of $15.26. Macy's, Inc. has a fifty-two week low of $12.48 and a fifty-two week high of $20.70. The firm has a market cap of $3.50 billion, a P/E ratio of 21.35 and a beta of 2.07. 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 - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share 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 during the quarter, compared to the consensus estimate of $7.76 billion. On average, sell-side 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 issued a $0.1824 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Macy's's previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a dividend yield of 5.79%. Macy's's payout ratio is 35.44%.
Institutional Investors Weigh In On Macy's
Several institutional investors and hedge funds have recently bought and sold shares of M. Trifecta Capital Advisors LLC acquired a new stake in Macy's in the fourth quarter worth $34,000. Quest Partners LLC bought a new position in shares of Macy's during the third quarter worth about $35,000. Jones Financial Companies Lllp increased its holdings in shares of Macy's by 82.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock worth $36,000 after acquiring an additional 969 shares during the period. Kestra Investment Management LLC acquired a new position in Macy's during the 4th quarter valued at about $38,000. Finally, Bessemer Group Inc. grew its position in Macy's by 495.5% in the 4th quarter. Bessemer Group Inc. now owns 3,412 shares of the company's stock worth $58,000 after purchasing an additional 2,839 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on M shares. Gordon Haskett lowered Macy's from an "accumulate" rating to a "hold" rating in a research report on Thursday, March 6th. StockNews.com raised shares of Macy's from a "hold" rating to a "buy" rating in a report on Friday, February 14th. UBS Group cut their price objective on shares of Macy's from $9.00 to $8.00 and set a "sell" rating on the stock in a report on Friday, March 7th. Citigroup lowered their target price on Macy's from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. Finally, The Goldman Sachs Group cut their price target on Macy's from $19.00 to $17.00 and set a "buy" rating on the stock in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Macy's has a consensus rating of "Hold" and an average price target of $15.30.
Read Our Latest Research Report on Macy's
Macy's Company Profile
(
Get Free Report)
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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