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 firm’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $12.77, for a total value of $58,512.14. Following the completion of the sale, the chief executive officer now directly owns 288,961 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, March 31st, Antony Spring sold 20,868 shares of Macy’s stock. The stock was 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

NYSE:M opened at $12.60 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. Macy’s, Inc. has a fifty-two week low of $12.48 and a fifty-two week high of $20.70. The company has a 50 day simple moving average of $14.36 and a two-hundred day simple moving average of $15.26. The company has a market capitalization of $3.50 billion, a PE ratio of 21.35 and a beta of 2.07.

Macy’s (NYSE:M) last posted 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. The company had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.76 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. Research analysts anticipate that Macy’s, Inc. will post 2.39 earnings per share for the current year.

Macy’s Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is 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 dividend yield of 5.79%. Macy’s’s dividend payout ratio (DPR) is 35.44%.

Institutional Investors Weigh In On Macy’s

Several institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in Macy’s by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,751,211 shares of the company’s stock worth $266,666,000 after purchasing an additional 1,149,454 shares in the last quarter. Cooper Creek Partners Management LLC increased its stake in shares of Macy’s by 26.2% in the 4th quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company’s stock valued at $132,701,000 after acquiring an additional 1,627,572 shares in the last quarter. FMR LLC lifted its position in shares of Macy’s by 59.9% during the 4th quarter. FMR LLC now owns 7,503,742 shares of the company’s stock valued at $127,038,000 after acquiring an additional 2,812,151 shares during the period. American Century Companies Inc. boosted its stake in Macy’s by 12.2% during the fourth quarter. American Century Companies Inc. now owns 7,137,132 shares of the company’s stock worth $120,832,000 after acquiring an additional 774,693 shares in the last quarter. Finally, Norges Bank acquired a new stake in Macy’s in the fourth quarter worth $96,689,000. Institutional investors own 87.36% of the company’s stock.

Wall Street Analysts Forecast Growth

M has been the topic of a number of research analyst reports. Gordon Haskett lowered shares of Macy’s from an “accumulate” rating to a “hold” rating in a research report on Thursday, March 6th. Guggenheim restated a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. Citigroup dropped their target price on Macy’s from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Finally, The Goldman Sachs Group dropped 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. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average 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.