Macy’s, Inc. (NYSE:M – Get Free Report) SVP Paul Griscom sold 1,201 shares of Macy’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $15.23, for a total transaction of $18,291.23. Following the completion of the transaction, the senior vice president now owns 29,232 shares of the company’s stock, valued at approximately $445,203.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Paul Griscom also recently made the following trade(s):
- On Wednesday, July 10th, Paul Griscom sold 336 shares of Macy’s stock. The shares were sold at an average price of $18.97, for a total transaction of $6,373.92.
Macy’s Stock Performance
Shares of M opened at $14.61 on Friday. Macy’s, Inc. has a 12-month low of $10.54 and a 12-month high of $22.10. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. The company has a market cap of $4.04 billion, a PE ratio of 487.00 and a beta of 2.18. The stock has a 50-day moving average price of $16.66 and a 200-day moving average price of $18.44.
Macy’s Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date of this dividend is Friday, September 13th. Macy’s’s payout ratio is currently 2,300.00%.
Wall Street Analyst Weigh In
M has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research note on Wednesday, August 21st. StockNews.com began coverage on Macy’s in a research note on Saturday. They issued a “hold” rating for the company. Evercore ISI decreased their price target on Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 16th. Finally, Morgan Stanley lowered their price target on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $19.50.
Hedge Funds Weigh In On Macy’s
Large investors have recently modified their holdings of the company. Creative Planning grew its holdings in shares of Macy’s by 4.2% during the 2nd quarter. Creative Planning now owns 62,703 shares of the company’s stock valued at $1,204,000 after purchasing an additional 2,554 shares during the last quarter. Algert Global LLC grew its stake in shares of Macy’s by 200.3% during the second quarter. Algert Global LLC now owns 230,559 shares of the company’s stock valued at $4,427,000 after buying an additional 153,789 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of Macy’s in the second quarter worth about $57,000. Affinity Capital Advisors LLC purchased a new position in shares of Macy’s in the second quarter worth about $209,000. Finally, Alden Global Capital LLC lifted its stake in shares of Macy’s by 56.1% in the 2nd quarter. Alden Global Capital LLC now owns 606,741 shares of the company’s stock valued at $11,649,000 after acquiring an additional 218,146 shares during the last quarter. 87.36% of the stock is owned by hedge funds and other institutional investors.
About Macy’s
Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.
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