Antony Spring Sells 20,868 Shares of Macy’s, Inc. (NYSE:M) Stock

Macy’s, Inc. (NYSE:M) CEO Antony Spring sold 20,868 shares of the company’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $12.68, for a total transaction of $264,606.24. Following the completion of the transaction, the chief executive officer now owns 321,244 shares of the company’s stock, valued at $4,073,373.92. This trade represents a 6.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Friday, March 28th, Antony Spring sold 4,582 shares of Macy’s stock. The stock was sold at an average price of $12.77, for a total value of $58,512.14.
• 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 value of $42,923.76.

Macy’s Stock Performance

Macy’s stock opened at $13.22 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The firm has a market cap of $3.67 billion, a P/E ratio of 22.41 and a beta of 2.07. Macy’s, Inc. has a 1-year low of $12.48 and a 1-year high of $20.70. The firm has a 50-day moving average of $14.30 and a 200-day moving average of $15.24.

Macy’s (NYSE:M) last released its quarterly earnings data 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. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The business had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.76 billion. Sell-side analysts expect that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.1824 dividend. The ex-dividend date was Friday, March 14th. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a yield of 5.52%. Macy’s’s dividend payout ratio is 35.44%.

Institutional Investors Weigh In On Macy’s

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

Wall Street Analyst Weigh In

M has been the subject of several research reports. Cowen reaffirmed a “hold” rating on shares of Macy’s in a research note on Friday, March 7th. The Goldman Sachs Group lowered their price objective 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. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Morgan Stanley set a $14.00 price target on shares of Macy’s in a research note on Monday, March 10th. Finally, StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Macy’s currently has an average rating of “Hold” and a consensus price target of $15.30.

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.