Paul Griscom Sells 12,843 Shares of Macy's (NYSE:M) Stock

Key Points

• SVP Paul Griscom sold 12,843 shares of Macy's stock at an average price of $17.26, resulting in a 35.46% decrease in his holdings.
• Macy's recently reported earnings that beat estimates, with a net income margin of 2.18% and revenue of $4.81 billion, though this was down 2.5% year-over-year.
• The company announced a quarterly dividend of $0.1824 per share, reflecting an annualized yield of 4.2%, payable on October 1st.

Macy's, Inc. (NYSE:M - Get Free Report) SVP Paul Griscom sold 12,843 shares of Macy's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $17.26, for a total value of $221,670.18. Following the completion of the transaction, the senior vice president owned 23,379 shares of the company's stock, valued at approximately $403,521.54. The trade was a 35.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Macy's Stock Performance

M traded up $0.44 during trading hours on Thursday, hitting $17.48. 9,331,931 shares of the stock were exchanged, compared to its average volume of 7,702,418. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of 9.99 and a beta of 1.78. The stock has a 50-day simple moving average of $13.25 and a 200-day simple moving average of $12.54. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.38 and a quick ratio of 0.35. Macy's, Inc. has a 12 month low of $9.76 and a 12 month high of $18.13.

Macy's (NYSE:M - Get Free Report) last released its earnings results on Wednesday, September 3rd. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.22. Macy's had a net margin of 2.18% and a return on equity of 15.39%. The firm had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.69 billion. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The firm's revenue for the quarter was down 2.5% compared to the same quarter last year. Macy's has set its Q3 2025 guidance at -0.200--0.150 EPS. FY 2025 guidance at 1.700-2.050 EPS. Analysts anticipate that Macy's, Inc. will post 2.39 earnings per share for the current year.

Macy's Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a $0.1824 dividend. This represents a $0.73 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Monday, September 15th. Macy's's payout ratio is presently 41.71%.

Institutional Investors Weigh In On Macy's

Hedge funds and other institutional investors have recently modified their holdings of the stock. RWC Asset Management LLP acquired a new stake in shares of Macy's in the 1st quarter worth approximately $80,868,000. Norges Bank bought a new stake in Macy's during the second quarter worth approximately $58,743,000. Schroder Investment Management Group lifted its position in Macy's by 104.5% in the second quarter. Schroder Investment Management Group now owns 9,627,790 shares of the company's stock worth $112,260,000 after purchasing an additional 4,920,821 shares during the period. AQR Capital Management LLC lifted its position in Macy's by 269.2% in the first quarter. AQR Capital Management LLC now owns 5,229,543 shares of the company's stock worth $65,683,000 after purchasing an additional 3,813,210 shares during the period. Finally, Invesco Ltd. boosted its stake in Macy's by 160.5% during the 2nd quarter. Invesco Ltd. now owns 4,283,107 shares of the company's stock valued at $49,941,000 after purchasing an additional 2,639,132 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on M. JPMorgan Chase & Co. upped their target price on Macy's from $12.00 to $16.00 and gave the company a "neutral" rating in a report on Monday, July 28th. The Goldman Sachs Group increased their target price on Macy's from $13.00 to $14.50 and gave the stock a "neutral" rating in a research report on Thursday, September 4th. Jefferies Financial Group boosted their price target on shares of Macy's from $14.50 to $18.50 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Barclays increased their price objective on shares of Macy's from $12.00 to $15.00 and gave the stock an "equal weight" rating in a report on Thursday, September 4th. Finally, UBS Group boosted their target price on shares of Macy's from $6.00 to $6.50 and gave the company a "sell" rating in a research note on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Macy's presently has a consensus rating of "Hold" and an average target price of $14.85.

About Macy's

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.

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