Insider Selling: Macy’s (NYSE:M) SVP Sells 745 Shares of Stock

Macy’s, Inc. (NYSE:M) SVP Paul Griscom sold 745 shares of Macy’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $17.92, for a total value of $13,350.40. Following the sale, the senior vice president directly owned 35,450 shares in the company, valued at approximately $635,264. This trade represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, April 1st, Paul Griscom sold 490 shares of Macy’s stock. The stock was sold at an average price of $18.08, for a total value of $8,859.20.

Macy’s Stock Performance

M stock traded down $0.03 during trading on Tuesday, reaching $18.10. 4,733,326 shares of the stock were exchanged, compared to its average volume of 7,639,447. Macy’s, Inc. has a twelve month low of $9.76 and a twelve month high of $24.41. The company has a market capitalization of $4.77 billion, a P/E ratio of 7.80 and a beta of 1.51. The stock has a 50 day simple moving average of $19.55 and a 200-day simple moving average of $20.19. The company has a current ratio of 1.49, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50.

Macy’s (NYSE:M) last released its earnings results on Wednesday, March 18th. The company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.12. Macy’s had a return on equity of 14.22% and a net margin of 2.84%.The business had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.48 billion. During the same period last year, the business earned $1.80 earnings per share. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Macy’s, Inc. will post 2.39 earnings per share for the current year.

Macy’s Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were issued a dividend of $0.1915 per share. The ex-dividend date of this dividend was Friday, March 13th. This is a positive change from Macy’s’s previous quarterly dividend of $0.18. This represents a $0.77 dividend on an annualized basis and a yield of 4.2%. Macy’s’s dividend payout ratio (DPR) is presently 33.19%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on M. TD Cowen decreased their price objective on Macy’s from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Thursday, March 19th. Zacks Research downgraded Macy’s from a “hold” rating to a “strong sell” rating in a report on Friday, March 13th. Guggenheim began coverage on Macy’s in a report on Tuesday, December 9th. They set a “neutral” rating on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Macy’s in a report on Friday, March 27th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $20.00 price objective on shares of Macy’s in a report on Wednesday, April 1st. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $18.90.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of M. Strengthening Families & Communities LLC acquired a new position in shares of Macy’s in the 4th quarter worth approximately $28,000. V Square Quantitative Management LLC acquired a new position in shares of Macy’s in the 4th quarter worth approximately $29,000. Cullen Frost Bankers Inc. acquired a new position in shares of Macy’s in the 3rd quarter worth approximately $31,000. Smartleaf Asset Management LLC boosted its holdings in shares of Macy’s by 51.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company’s stock worth $34,000 after acquiring an additional 526 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Macy’s by 41.4% in the 3rd quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock worth $37,000 after acquiring an additional 592 shares in the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

About Macy’s

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.