Macy’s (NYSE:M) CEO Olivier Bron Sells 7,228 Shares

Macy’s, Inc. (NYSE:M) CEO Olivier Bron sold 7,228 shares of Macy’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $17.92, for a total transaction of $129,525.76. Following the sale, the chief executive officer directly owned 21,590 shares of the company’s stock, valued at $386,892.80. This represents a 25.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Macy’s Trading Down 0.2%

M traded down $0.03 during trading on Tuesday, reaching $18.10. 4,733,326 shares of the company’s stock were exchanged, compared to its average volume of 7,639,447. The company’s fifty day moving average price is $19.55 and its 200-day moving average price is $20.19. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 1.49. Macy’s, Inc. has a fifty-two week low of $9.76 and a fifty-two week high of $24.41. The firm has a market capitalization of $4.77 billion, a PE ratio of 7.80 and a beta of 1.51.

Macy’s (NYSE:M) last released its earnings results on Wednesday, March 18th. The company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.12. Macy’s had a net margin of 2.84% and a return on equity of 14.22%. The firm had revenue of $7.92 billion during the quarter, compared to analyst estimates of $7.48 billion. During the same quarter in the previous year, the business earned $1.80 EPS. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, equities analysts forecast that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were issued a dividend of $0.1915 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.77 dividend on an annualized basis and a yield of 4.2%. This is a boost from Macy’s’s previous quarterly dividend of $0.18. Macy’s’s dividend payout ratio (DPR) is presently 33.19%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Guggenheim assumed coverage on shares of Macy’s in a report on Tuesday, December 9th. They set a “neutral” rating for the company. UBS Group lifted their price target on shares of Macy’s from $8.00 to $9.00 and gave the stock a “sell” rating in a research report on Monday, March 9th. Telsey Advisory Group reissued a “market perform” rating and set a $20.00 price target on shares of Macy’s in a research report on Wednesday, April 1st. Jefferies Financial Group reissued a “buy” rating and set a $22.00 price target on shares of Macy’s in a research report on Wednesday, March 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Macy’s in a research report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $18.90.

Hedge Funds Weigh In On Macy’s

A number of hedge funds and other institutional investors have recently made changes to their positions in M. Norges Bank bought a new position in shares of Macy’s during the fourth quarter worth $85,020,000. Marshall Wace LLP bought a new stake in Macy’s in the 4th quarter valued at $69,562,000. Goldman Sachs Group Inc. lifted its position in Macy’s by 67.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,823,034 shares of the company’s stock valued at $150,448,000 after acquiring an additional 2,750,115 shares in the last quarter. Invesco Ltd. lifted its position in Macy’s by 160.5% in the 2nd quarter. Invesco Ltd. now owns 4,283,107 shares of the company’s stock valued at $49,941,000 after acquiring an additional 2,639,132 shares in the last quarter. Finally, Hennessy Advisors Inc. bought a new stake in Macy’s in the 3rd quarter valued at $44,362,000. 87.36% of the stock is owned by institutional investors.

About Macy’s

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.