Macy’s, Inc. (NYSE:M) CEO Antony Spring Sells 3,124 Shares

Macy’s, Inc. (NYSE:M) CEO Antony Spring sold 3,124 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $42,923.76. Following the sale, the chief executive officer now directly owns 272,680 shares in the company, valued at approximately $3,746,623.20. This represents a 1.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Macy’s Price Performance

M stock traded down $0.30 on Wednesday, reaching $13.29. The company had a trading volume of 5,825,748 shares, compared to its average volume of 5,984,544. The company has a market cap of $3.69 billion, a P/E ratio of 22.52 and a beta of 2.07. 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 is $14.43 and its 200 day moving average is $15.31. Macy’s, Inc. has a 1 year low of $12.60 and a 1 year high of $20.70.

Macy’s (NYSE:M) last posted its quarterly earnings data on Thursday, March 6th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.25. The company had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.76 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. On average, research analysts forecast that Macy’s, Inc. will post 2.39 earnings per share for the current year.

Macy’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.1824 dividend. This is an increase from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, March 14th. This represents a $0.73 annualized dividend and a dividend yield of 5.49%. Macy’s’s dividend payout ratio is presently 35.44%.

Wall Street Analysts Forecast Growth

M has been the subject of several research reports. Telsey Advisory Group set a $15.00 price objective on shares of Macy’s in a research note on Friday, March 7th. The Goldman Sachs Group cut their price target on shares of Macy’s from $19.00 to $17.00 and set a “buy” rating for the company in a report on Friday, March 7th. Citigroup decreased their price objective on Macy’s from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Guggenheim restated a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. Finally, Cowen restated a “hold” rating on shares of Macy’s in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $15.30.

Institutional Investors Weigh In On Macy’s

Large investors have recently added to or reduced their stakes in the company. Quest Partners LLC bought a new stake in shares of Macy’s during the 3rd quarter valued at about $35,000. Charles Schwab Investment Management Inc. boosted its position in Macy’s by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock worth $41,765,000 after acquiring an additional 118,626 shares during the period. Horizon Kinetics Asset Management LLC bought a new position in Macy’s in the 3rd quarter valued at about $479,000. FMR LLC boosted its holdings in shares of Macy’s by 4.4% in the third quarter. FMR LLC now owns 4,691,591 shares of the company’s stock valued at $73,611,000 after acquiring an additional 195,880 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Macy’s by 8.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 362,508 shares of the company’s stock valued at $5,688,000 after purchasing an additional 27,985 shares during the period. 87.36% of the stock is 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.