Macy’s (NYSE:M) EVP Danielle Kirgan Sells 10,010 Shares

Macy’s, Inc. (NYSE:M) EVP Danielle Kirgan sold 10,010 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $17.92, for a total value of $179,379.20. Following the completion of the transaction, the executive vice president directly owned 108,008 shares of the company’s stock, valued at $1,935,503.36. The trade was a 8.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Macy’s Price Performance

NYSE M traded down $0.03 during mid-day trading on Tuesday, hitting $18.10. The stock had a trading volume of 4,733,326 shares, compared to its average volume of 7,639,447. Macy’s, Inc. has a 52-week low of $9.76 and a 52-week high of $24.41. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 7.80 and a beta of 1.51. The company has a 50 day simple moving average of $19.55 and a 200 day simple moving average of $20.19. The company has a quick ratio of 0.50, a current ratio of 1.49 and a debt-to-equity ratio of 0.50.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, March 18th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.12. Macy’s had a return on equity of 14.22% and a net margin of 2.84%.The firm had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.48 billion. During the same period last year, the business posted $1.80 EPS. Macy’s’s quarterly revenue was down 1.7% on a year-over-year basis. Equities analysts forecast that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were given 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 annualized dividend and a yield of 4.2%. Macy’s’s dividend payout ratio (DPR) is 33.19%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Strengthening Families & Communities LLC acquired a new position in shares of Macy’s during the fourth quarter worth about $28,000. V Square Quantitative Management LLC purchased a new stake in shares of Macy’s during the fourth quarter worth about $29,000. Smartleaf Asset Management LLC increased its position in shares of Macy’s by 51.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company’s stock worth $34,000 after acquiring an additional 526 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Macy’s during the third quarter worth about $31,000. Finally, CIBC Private Wealth Group LLC increased its position in shares of Macy’s by 35.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,838 shares of the company’s stock worth $41,000 after acquiring an additional 486 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Jefferies Financial Group reissued a “buy” rating and set a $22.00 price target on shares of Macy’s in a research report on Wednesday, March 18th. JPMorgan Chase & Co. reduced their target price on Macy’s from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Guggenheim assumed coverage on Macy’s in a research note on Tuesday, December 9th. They set a “neutral” rating on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Macy’s in a research note on Friday, March 27th. Finally, TD Cowen reduced their price objective on Macy’s from $21.00 to $20.00 and set a “hold” rating on the stock in a research note on Thursday, March 19th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Macy’s presently has an average rating of “Reduce” and an average price target of $18.90.

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.