Macy’s, Inc. (NYSE:M) SVP Paul Griscom Sells 522 Shares of Stock

Macy’s, Inc. (NYSE:MGet Free Report) SVP Paul Griscom sold 522 shares of Macy’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $19.64, for a total value of $10,252.08. Following the sale, the senior vice president now owns 25,553 shares of the company’s stock, valued at $501,860.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Monday, March 25th, Paul Griscom sold 340 shares of Macy’s stock. The shares were sold at an average price of $20.29, for a total value of $6,898.60.
  • On Friday, March 22nd, Paul Griscom sold 2,969 shares of Macy’s stock. The shares were sold at an average price of $20.43, for a total value of $60,656.67.

Macy’s Price Performance

M opened at $19.06 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.39. The firm has a market capitalization of $5.23 billion, a PE ratio of 51.51 and a beta of 2.15. The business’s 50-day moving average is $19.56 and its two-hundred day moving average is $16.56. Macy’s, Inc. has a 1 year low of $10.54 and a 1 year high of $22.10.

Macy’s (NYSE:MGet Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.47. The business had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.07 billion. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the company earned $1.88 earnings per share. Research analysts anticipate that Macy’s, Inc. will post 2.57 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.1737 dividend. This represents a $0.69 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio (DPR) is currently 186.49%.

Institutional Investors Weigh In On Macy’s

Institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Macy’s by 7.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 44,210 shares of the company’s stock worth $1,077,000 after purchasing an additional 2,981 shares during the period. US Bancorp DE lifted its holdings in shares of Macy’s by 7.2% during the first quarter. US Bancorp DE now owns 18,576 shares of the company’s stock worth $452,000 after purchasing an additional 1,244 shares during the period. Natixis Advisors L.P. lifted its holdings in shares of Macy’s by 34.4% during the first quarter. Natixis Advisors L.P. now owns 28,563 shares of the company’s stock worth $696,000 after purchasing an additional 7,317 shares during the period. APG Asset Management N.V. acquired a new stake in shares of Macy’s during the first quarter worth about $1,482,000. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of Macy’s by 13.9% during the first quarter. Great West Life Assurance Co. Can now owns 219,731 shares of the company’s stock worth $5,550,000 after purchasing an additional 26,827 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. TD Cowen lowered Macy’s from an “outperform” rating to a “market perform” rating and cut their price target for the company from $23.00 to $20.00 in a research note on Thursday, February 29th. Citigroup upgraded Macy’s from a “sell” rating to a “neutral” rating and raised their price target for the company from $14.00 to $18.00 in a research note on Friday, February 2nd. Telsey Advisory Group restated a “market perform” rating and set a $21.00 price target on shares of Macy’s in a research note on Thursday, March 28th. The Goldman Sachs Group raised their price target on Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Finally, Morgan Stanley cut their target price on Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $17.45.

Check Out Our Latest Report on Macy’s

Macy’s Company Profile

(Get Free Report)

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.

Featured Stories

Insider Buying and Selling by Quarter for Macy's (NYSE:M)

Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter.