Macy’s, Inc. (NYSE:M) CEO Sells $273,709.68 in Stock

Macy’s, Inc. (NYSE:M) CEO Antony Spring sold 13,404 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $20.42, for a total value of $273,709.68. Following the completion of the transaction, the chief executive officer now directly owns 223,286 shares in the company, valued at $4,559,500.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, March 25th, Antony Spring sold 3,075 shares of Macy’s stock. The stock was sold at an average price of $20.28, for a total value of $62,361.00.

Macy’s Stock Up 4.0 %

Shares of Macy’s stock opened at $19.85 on Thursday. Macy’s, Inc. has a 1-year low of $10.54 and a 1-year high of $22.10. The company has a market capitalization of $5.44 billion, a P/E ratio of 53.64 and a beta of 2.14. The business’s fifty day moving average price is $19.43 and its two-hundred day moving average price is $16.30. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.39.

Macy’s (NYSE:M) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.47. The business had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $8.07 billion. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The company’s revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.88 earnings per share. As a group, research analysts forecast that Macy’s, Inc. will post 2.57 EPS for the current year.

Macy’s Increases Dividend

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

Institutional Investors Weigh In On Macy’s

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Macy’s by 7.8% during the third quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock valued at $422,390,000 after purchasing an additional 2,645,577 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Macy’s by 15.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,398,149 shares of the company’s stock worth $249,456,000 after acquiring an additional 1,685,986 shares in the last quarter. State Street Corp grew its holdings in shares of Macy’s by 10.3% in the 2nd quarter. State Street Corp now owns 11,241,180 shares of the company’s stock worth $182,203,000 after acquiring an additional 1,050,825 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Macy’s by 1,054.0% during the second quarter. Point72 Asset Management L.P. now owns 10,846,841 shares of the company’s stock worth $174,092,000 after purchasing an additional 9,906,912 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Macy’s by 27.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 10,106,073 shares of the company’s stock valued at $246,184,000 after purchasing an additional 2,155,936 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

M has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on Macy’s from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. Morgan Stanley cut their target price on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 28th. Citigroup upgraded Macy’s from a “sell” rating to a “neutral” rating and lifted their target price for the company from $14.00 to $18.00 in a research note on Friday, February 2nd. TD Cowen cut Macy’s from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $23.00 to $20.00 in a research report on Thursday, February 29th. Finally, Telsey Advisory Group boosted their price objective on Macy’s from $15.00 to $21.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.45.

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.