Paul Griscom Sells 942 Shares of Macy’s, Inc. (NYSE:M) Stock

Macy’s, Inc. (NYSE:M) SVP Paul Griscom sold 942 shares of the business’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $12.77, for a total value of $12,029.34. Following the sale, the senior vice president now owns 33,940 shares of the company’s stock, valued at approximately $433,413.80. This represents a 2.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, March 31st, Paul Griscom sold 444 shares of Macy’s stock. The stock was sold at an average price of $12.67, for a total transaction of $5,625.48.
• On Tuesday, March 25th, Paul Griscom sold 400 shares of Macy’s stock. The shares were sold at an average price of $13.74, for a total transaction of $5,496.00.

Macy’s Price Performance

M stock opened at $13.22 on Thursday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The company’s fifty day moving average price is $14.30 and its 200-day moving average price is $15.24. Macy’s, Inc. has a one year low of $12.48 and a one year high of $20.70. The company has a market capitalization of $3.67 billion, a PE ratio of 22.41 and a beta of 2.07.

Macy’s (NYSE:M) last announced its quarterly earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.55 by $0.25. The business had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.76 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. On average, equities analysts anticipate that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.1824 per share. This represents a $0.73 annualized dividend and a yield of 5.52%. The ex-dividend date was Friday, March 14th. This is a boost from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio (DPR) is currently 35.44%.

Wall Street Analyst Weigh In

M has been the subject of a number of recent research reports. New Street Research set a $13.00 price objective on shares of Macy’s in a research report on Thursday, March 6th. Citigroup cut their price target on Macy’s from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, March 7th. StockNews.com raised Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Gordon Haskett lowered shares of Macy’s from an “accumulate” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Macy’s presently has an average rating of “Hold” and an average target price of $15.30.

Institutional Investors Weigh In On Macy’s

A number of hedge funds have recently bought and sold shares of M. Dimensional Fund Advisors LP grew its stake in shares of Macy’s by 7.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,751,211 shares of the company’s stock worth $266,666,000 after buying an additional 1,149,454 shares in the last quarter. Cooper Creek Partners Management LLC grew its position in Macy’s by 26.2% in the fourth quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company’s stock worth $132,701,000 after acquiring an additional 1,627,572 shares in the last quarter. FMR LLC increased its stake in Macy’s by 59.9% during the fourth quarter. FMR LLC now owns 7,503,742 shares of the company’s stock worth $127,038,000 after acquiring an additional 2,812,151 shares during the last quarter. American Century Companies Inc. raised its position in Macy’s by 12.2% during the fourth quarter. American Century Companies Inc. now owns 7,137,132 shares of the company’s stock valued at $120,832,000 after purchasing an additional 774,693 shares during the period. Finally, Norges Bank purchased a new stake in Macy’s during the fourth quarter valued at approximately $96,689,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

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.