Paul Griscom Sells 452 Shares of Macy’s, Inc. (NYSE:M) Stock

Macy’s, Inc. (NYSE:M) SVP Paul Griscom sold 452 shares of Macy’s stock in a transaction dated Monday, November 22nd. The shares were sold at an average price of $34.70, for a total transaction of $15,684.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Friday, September 24th, Paul Griscom sold 1,700 shares of Macy’s stock. The shares were sold at an average price of $23.83, for a total transaction of $40,511.00.
  • On Tuesday, September 7th, Paul Griscom sold 1,216 shares of Macy’s stock. The shares were sold at an average price of $21.79, for a total transaction of $26,496.64.

NYSE M opened at $32.14 on Thursday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.14 and a quick ratio of 0.22. The company’s 50 day simple moving average is $26.65 and its 200 day simple moving average is $21.68. Macy’s, Inc. has a 12 month low of $9.95 and a 12 month high of $37.95. The company has a market capitalization of $9.95 billion, a P/E ratio of 12.08, a PEG ratio of 0.59 and a beta of 2.08.

Macy’s (NYSE:M) last released its earnings results on Thursday, November 18th. The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.92. Macy’s had a net margin of 3.75% and a return on equity of 41.33%. The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same period in the previous year, the firm earned ($0.19) EPS. The business’s revenue for the quarter was up 36.3% on a year-over-year basis. On average, analysts anticipate that Macy’s, Inc. will post 4.89 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 3rd. Stockholders of record on Wednesday, December 15th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Tuesday, December 14th. Macy’s’s dividend payout ratio (DPR) is currently 22.56%.

Macy’s declared that its board has authorized a stock repurchase program on Thursday, August 19th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 7.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

A number of research firms have commented on M. Bank of America boosted their price target on shares of Macy’s from $21.00 to $25.00 and gave the stock an “underperform” rating in a research report on Friday, November 19th. Credit Suisse Group boosted their price target on shares of Macy’s from $19.00 to $32.00 and gave the stock an “underperform” rating in a research report on Friday, November 19th. JPMorgan Chase & Co. upgraded shares of Macy’s from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $19.00 to $25.00 in a research report on Friday, August 20th. Citigroup boosted their price target on shares of Macy’s from $20.00 to $29.00 and gave the stock a “sell” rating in a research report on Friday, November 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Macy’s from $29.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, November 19th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $33.00.

Institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc increased its position in shares of Macy’s by 165.6% in the second quarter. IFP Advisors Inc now owns 1,604 shares of the company’s stock worth $29,000 after acquiring an additional 1,000 shares in the last quarter. First Quadrant L P CA purchased a new position in shares of Macy’s in the third quarter worth approximately $38,000. Carroll Financial Associates Inc. increased its position in shares of Macy’s by 122.6% in the third quarter. Carroll Financial Associates Inc. now owns 1,850 shares of the company’s stock worth $41,000 after acquiring an additional 1,019 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Macy’s by 101.9% in the second quarter. Parallel Advisors LLC now owns 2,429 shares of the company’s stock worth $46,000 after acquiring an additional 1,226 shares in the last quarter. Finally, Eaton Vance Management purchased a new position in shares of Macy’s in the first quarter worth approximately $51,000. 85.22% of the stock is currently owned by institutional investors and hedge funds.

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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