Macy’s (NYSE:M) SVP Paul Griscom Sells 745 Shares of Stock

Macy’s, Inc. (NYSE:M) SVP Paul Griscom sold 745 shares of the stock in a transaction on Monday, April 6th. The shares were sold at an average price of $17.92, for a total value of $13,350.40. Following the sale, the senior vice president owned 35,450 shares in the company, valued at approximately $635,264. This represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, April 1st, Paul Griscom sold 490 shares of Macy’s stock. The stock was sold at an average price of $18.08, for a total value of $8,859.20.

Macy’s Trading Down 0.2%

Shares of NYSE:M opened at $18.10 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.49 and a quick ratio of 0.50. Macy’s, Inc. has a 1 year low of $9.76 and a 1 year high of $24.41. The company has a market cap of $4.77 billion, a P/E ratio of 7.80 and a beta of 1.51. The stock’s fifty day moving average price is $19.51 and its 200-day moving average price is $20.19.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, March 18th. The company reported $1.67 EPS for the quarter, topping 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 company 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 company earned $1.80 EPS. Macy’s’s revenue for the quarter was down 1.7% on a year-over-year basis. Sell-side analysts expect that Macy’s, Inc. will post 2.39 earnings per share for the current year.

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th were paid a $0.1915 dividend. This is a boost from Macy’s’s previous quarterly dividend of $0.18. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, March 13th. Macy’s’s dividend payout ratio (DPR) is presently 33.19%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Hennessy Advisors Inc. bought a new stake in Macy’s during the third quarter valued at about $44,362,000. Y Intercept Hong Kong Ltd bought a new position in shares of Macy’s in the third quarter worth about $3,307,000. Allianz Asset Management GmbH grew its stake in shares of Macy’s by 2.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 3,223,138 shares of the company’s stock valued at $57,791,000 after acquiring an additional 65,395 shares during the period. SummerHaven Investment Management LLC bought a new position in shares of Macy’s during the 3rd quarter valued at approximately $1,192,000. Finally, Texas Permanent School Fund Corp increased its holdings in Macy’s by 25.9% in the 2nd quarter. Texas Permanent School Fund Corp now owns 304,192 shares of the company’s stock worth $3,547,000 after acquiring an additional 62,596 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

M has been the topic of several research reports. UBS Group raised their target price on shares of Macy’s from $8.00 to $9.00 and gave the stock a “sell” rating in a report on Monday, March 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Macy’s in a report on Friday, March 27th. JPMorgan Chase & Co. dropped their price target on Macy’s from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $20.00 price objective on shares of Macy’s in a report on Wednesday, April 1st. Finally, Zacks Research cut Macy’s from a “hold” rating to a “strong sell” rating in a research report on Friday, March 13th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $18.90.

Macy’s News Summary

Here are the key news stories impacting Macy’s this week:

• Positive Sentiment: Intraday market note showed a small uptick for Macy’s on April 6, with Schaeffer’s reporting the shares about 0.6% higher at $17.92 — a short-term bullish signal for momentum traders. Retail Stock Could Be Ready to Burn Options Bears
• Neutral Sentiment: Multiple insiders sold shares on April 6 to cover tax withholding tied to equity vesting — quantity and owners: Paul Griscom (745 shares), Tracy M. Preston (5,271), Olivier Bron (7,228), Danielle L. Kirgan (10,010), and Antony Spring (50,044). These are disclosed Form 4 sales at an average price ≈ $17.92; because filings state the sales were for tax purposes (not discretionary diversification), the transactions are more likely sentiment-neutral than a signal of fundamental concern. Filings: Paul Griscom (SEC filing – Paul Griscom), Tracy Preston (SEC filing – Tracy M. Preston), Olivier Bron (SEC filing – Olivier Bron), Danielle Kirgan (SEC filing – Danielle L. Kirgan), Antony Spring (SEC filing – Antony Spring).

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.