Macy’s, Inc. (NYSE:M) CEO Antony Spring Sells 4,582 Shares

Macy’s, Inc. (NYSE:M) CEO Antony Spring sold 4,582 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $12.77, for a total value of $58,512.14. Following the sale, the chief executive officer now directly owns 288,961 shares in the company, valued at approximately $3,690,031.97. This trade represents a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Antony Spring also recently made the following trade(s):

• On Monday, March 31st, Antony Spring sold 20,868 shares of Macy’s stock. The shares were sold at an average price of $12.68, for a total transaction of $264,606.24.
• On Tuesday, March 25th, Antony Spring sold 3,124 shares of Macy’s stock. The shares were sold at an average price of $13.74, for a total transaction of $42,923.76.

Macy’s Stock Performance

Shares of NYSE:M traded down $0.22 during midday trading on Monday, reaching $12.60. The company’s stock had a trading volume of 6,535,153 shares, compared to its average volume of 6,063,796. Macy’s, Inc. has a twelve month low of $12.48 and a twelve month high of $20.70. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $3.50 billion, a PE ratio of 21.35 and a beta of 2.07. The stock has a fifty day moving average of $14.38 and a 200 day moving average of $15.28.

Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.25. The firm had revenue of $7.77 billion for 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, equities analysts expect that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.1824 per share. This represents a $0.73 annualized dividend and a yield of 5.79%. This is a boost from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, March 14th. Macy’s’s payout ratio is presently 35.44%.

Institutional Investors Weigh In On Macy’s

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Trifecta Capital Advisors LLC purchased a new stake in shares of Macy’s in the fourth quarter valued at about $34,000. Quest Partners LLC acquired a new stake in Macy’s during the third quarter worth approximately $35,000. Jones Financial Companies Lllp lifted its holdings in shares of Macy’s by 82.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after acquiring an additional 969 shares during the period. Kestra Investment Management LLC purchased a new stake in Macy’s during the fourth quarter valued at about $38,000. Finally, Bessemer Group Inc. increased its position in shares of Macy’s by 495.5% in the fourth quarter. Bessemer Group Inc. now owns 3,412 shares of the company’s stock worth $58,000 after acquiring an additional 2,839 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on M shares. Telsey Advisory Group set a $15.00 price objective on shares of Macy’s in a research note on Friday, March 7th. Morgan Stanley set a $14.00 price objective on shares of Macy’s in a report on Monday, March 10th. StockNews.com raised Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Benchmark upgraded Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Gordon Haskett lowered shares of Macy’s from an “accumulate” rating to a “hold” rating in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $15.30.

Macy’s Company Profile

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.