Antony Spring Sells 3,075 Shares of Macy’s, Inc. (NYSE:M) Stock

Macy’s, Inc. (NYSE:M) CEO Antony Spring sold 3,075 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $20.28, for a total value of $62,361.00. Following the completion of the sale, the chief executive officer now owns 228,750 shares in the company, valued at $4,639,050. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Friday, March 22nd, Antony Spring sold 13,404 shares of Macy’s stock. The shares were sold at an average price of $20.42, for a total value of $273,709.68.

Macy’s Stock Up 4.0 %

Shares of NYSE M opened at $19.85 on Thursday. 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 1.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 53.64 and a beta of 2.14. The business has a 50-day moving average of $19.43 and a 200-day moving average of $16.30.

Macy’s (NYSE:M) last issued its earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.47. The business had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.07 billion. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. Macy’s’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.88 earnings per share. Sell-side analysts expect that Macy’s, Inc. will post 2.57 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be paid a $0.1737 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.69 annualized dividend and a yield of 3.50%. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio is currently 186.49%.

Analysts Set New Price Targets

M has been the topic of several analyst reports. Morgan Stanley decreased their price target on Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. Citigroup upgraded Macy’s from a “sell” rating to a “neutral” rating and upped their price target for the company from $14.00 to $18.00 in a research report on Friday, February 2nd. The Goldman Sachs Group upped their price target on Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. StockNews.com initiated coverage on Macy’s in a research report on Saturday, March 23rd. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. upped their price target on Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $17.45.

Institutional Trading of Macy’s

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Macy’s by 7.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 44,210 shares of the company’s stock valued at $1,077,000 after purchasing an additional 2,981 shares during the period. US Bancorp DE boosted its stake in shares of Macy’s by 7.2% during the first quarter. US Bancorp DE now owns 18,576 shares of the company’s stock valued at $452,000 after purchasing an additional 1,244 shares during the period. Natixis Advisors L.P. boosted its stake in shares of Macy’s by 34.4% during the first quarter. Natixis Advisors L.P. now owns 28,563 shares of the company’s stock valued at $696,000 after purchasing an additional 7,317 shares during the period. APG Asset Management N.V. purchased a new stake in shares of Macy’s during the first quarter valued at approximately $1,482,000. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Macy’s by 13.9% during the first quarter. Great West Life Assurance Co. Can now owns 219,731 shares of the company’s stock valued at $5,550,000 after purchasing an additional 26,827 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.

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.