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

Macy’s, Inc. (NYSE:M) SVP Paul Griscom sold 942 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 value of $12,029.34. Following the transaction, the senior vice president now owns 33,940 shares in the company, valued at $433,413.80. The trade was a 2.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 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 transaction of $5,496.00.

Macy’s Trading Down 1.7 %

Macy’s stock opened at $12.60 on Tuesday. The stock has a market cap of $3.50 billion, a PE ratio of 21.35 and a beta of 2.07. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The stock 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 52 week low of $12.48 and a 52 week high of $20.70.

Macy’s (NYSE:M) last posted its quarterly earnings data 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. The business had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. Equities research analysts predict that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on M shares. The Goldman Sachs Group reduced their price objective on shares of Macy’s from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Telsey Advisory Group set a $15.00 price target on Macy’s in a research note on Friday, March 7th. UBS Group dropped 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. JPMorgan Chase & Co. cut 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 report on Thursday, March 6th. Finally, StockNews.com raised 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 given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $15.30.

Hedge Funds Weigh In On Macy’s

Several institutional investors have recently added to or reduced their stakes in M. Trifecta Capital Advisors LLC acquired a new position in Macy’s during the fourth quarter worth approximately $34,000. Jones Financial Companies Lllp increased its holdings 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 worth $36,000 after buying an additional 969 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Macy’s in the 3rd quarter worth $35,000. Kestra Investment Management LLC acquired a new position in Macy’s in the fourth quarter valued at $38,000. Finally, Bessemer Group Inc. grew its position in Macy’s by 495.5% during the fourth quarter. Bessemer Group Inc. now owns 3,412 shares of the company’s stock valued at $58,000 after acquiring an additional 2,839 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

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.