Macy’s (NYSE:M) Hits New 12-Month Low Following Insider Selling

Macy’s, Inc. (NYSE:M) shares hit 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. The stock had previously closed at $12.81.

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

Analyst Ratings Changes

M has been the topic of a number of research reports. Citigroup lowered their price target on Macy’s from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Gordon Haskett lowered Macy’s from an “accumulate” rating to a “hold” rating in a research note on Thursday, March 6th. UBS Group decreased their price target on shares of Macy’s from $9.00 to $8.00 and set a “sell” rating on the stock in a research note on Friday, March 7th. Finally, New Street Research set a $13.00 target price on shares of Macy’s in a report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.30.

Macy’s Price Performance

The stock has a market cap of $3.57 billion, a PE ratio of 21.81 and a beta of 2.07. The business’s 50-day simple moving average is $14.32 and its 200-day simple moving average is $15.25. 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) last announced its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share (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 company had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.76 billion. On average, research analysts expect that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.1824 per share. 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 yield of 5.67%. The ex-dividend date was Friday, March 14th. Macy’s’s payout ratio is presently 35.44%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in M. Trifecta Capital Advisors LLC purchased a new position in shares of Macy’s in the 4th quarter valued at approximately $34,000. Jones Financial Companies Lllp boosted 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 valued at $36,000 after buying an additional 969 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Macy’s in the 4th quarter worth about $38,000. Bessemer Group Inc. increased its stake in shares of 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 acquiring an additional 2,839 shares in the last quarter. Finally, Tompkins Financial Corp bought a new stake in Macy’s during the fourth quarter worth about $102,000. 87.36% of the stock is currently owned by institutional investors.

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.