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

Macy's, Inc. (NYSE:M - Get Free Report) SVP Paul Griscom sold 522 shares of the firm'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 completion of the transaction, the senior vice president now directly 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 through the SEC website.

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

• On Monday, March 25th, Paul Griscom sold 340 shares of Macy's stock. The stock was sold at an average price of $20.29, for a total transaction 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 transaction of $60,656.67.

Macy's Stock Performance

NYSE M traded down $0.48 during trading hours on Tuesday, hitting $19.06. The company's stock had a trading volume of 8,352,532 shares, compared to its average volume of 8,416,221. Macy's, Inc. has a 12 month low of $10.54 and a 12 month high of $22.10. The company's 50 day simple moving average is $19.55 and its two-hundred day simple moving average is $16.51. 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 company has a market cap of $5.23 billion, a P/E ratio of 51.54 and a beta of 2.15.

Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.47. Macy's had a net margin of 0.45% and a return on equity of 23.34%. The firm had revenue of $8.12 billion during the quarter, compared to analysts' expectations of $8.07 billion. During the same period in the prior year, the company posted $1.88 earnings per share. The company's revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, sell-side analysts expect that Macy's, Inc. will post 2.57 EPS for the current fiscal year.

Macy's Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a dividend yield of 3.65%. The ex-dividend date was Thursday, March 14th. This is a positive change from Macy's's previous quarterly dividend of $0.17. Macy's's payout ratio is 186.49%.

Analyst Upgrades and Downgrades

M has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their target price on Macy's from $16.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday, February 28th. Morgan Stanley cut their target price on shares of Macy's from $21.00 to $20.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 28th. Citigroup upgraded Macy's from a "sell" rating to a "neutral" rating and boosted their price target for the company from $14.00 to $18.00 in a report on Friday, February 2nd. StockNews.com assumed coverage on shares of Macy's in a report on Sunday. They issued a "hold" rating for the company. Finally, Telsey Advisory Group restated a "market perform" rating and set a $21.00 price target on shares of Macy's in a research report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $17.45.

Institutional Trading of Macy's

Institutional investors and hedge funds have recently made changes to their positions in the business. Glassman Wealth Services increased its holdings in Macy's by 154.5% during the 4th quarter. Glassman Wealth Services now owns 1,224 shares of the company's stock worth $25,000 after purchasing an additional 743 shares during the period. Lindbrook Capital LLC increased its stake in shares of Macy's by 253.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company's stock valued at $26,000 after buying an additional 944 shares during the period. FinTrust Capital Advisors LLC bought a new stake in shares of Macy's in the fourth quarter valued at about $26,000. Atlas Capital Advisors LLC purchased a new stake in Macy's in the fourth quarter worth about $29,000. Finally, Quarry LP bought a new position in Macy's during the 1st quarter worth about $33,000. 87.36% of the stock is currently owned by institutional investors.

Macy's Company Profile

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.