Insider Selling: Macy’s, Inc. (NYSE:M) SVP Sells 1,201 Shares of Stock

Macy’s, Inc. (NYSE:M) SVP Paul Griscom sold 1,201 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $15.23, for a total transaction of $18,291.23. Following the transaction, the senior vice president now owns 29,232 shares of the company’s stock, valued at approximately $445,203.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, July 10th, Paul Griscom sold 336 shares of Macy’s stock. The shares were sold at an average price of $18.97, for a total value of $6,373.92.

Macy’s Trading Up 0.3 %

M opened at $14.92 on Friday. Macy’s, Inc. has a 1-year low of $10.54 and a 1-year high of $22.10. The stock has a market capitalization of $4.12 billion, a PE ratio of 496.00 and a beta of 2.18. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $16.75 and a two-hundred day moving average price of $18.47.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The business had revenue of $4.94 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same quarter last year, the business posted $0.26 earnings per share. Macy’s’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, equities analysts anticipate that Macy’s, Inc. will post 2.73 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a dividend yield of 4.66%. The ex-dividend date is Friday, September 13th. Macy’s’s dividend payout ratio (DPR) is presently 2,300.00%.

Institutional Trading of Macy’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Planning lifted its position in Macy’s by 4.2% during the 2nd quarter. Creative Planning now owns 62,703 shares of the company’s stock valued at $1,204,000 after purchasing an additional 2,554 shares during the period. Algert Global LLC raised its stake in shares of Macy’s by 200.3% during the second quarter. Algert Global LLC now owns 230,559 shares of the company’s stock worth $4,427,000 after buying an additional 153,789 shares during the last quarter. Abich Financial Wealth Management LLC bought a new stake in shares of Macy’s during the second quarter worth approximately $57,000. Affinity Capital Advisors LLC acquired a new position in Macy’s in the second quarter valued at approximately $209,000. Finally, Alden Global Capital LLC boosted its stake in Macy’s by 56.1% in the second quarter. Alden Global Capital LLC now owns 606,741 shares of the company’s stock valued at $11,649,000 after acquiring an additional 218,146 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Morgan Stanley decreased their price target on Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. StockNews.com initiated coverage on shares of Macy’s in a research note on Friday, August 30th. They issued a “hold” rating on the stock. TD Cowen increased their target price on shares of Macy’s from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. lifted their price target on shares of Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research note on Wednesday, August 21st. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $19.50.

About Macy’s

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.