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 company’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 owns 288,961 shares of the company’s stock, valued at $3,690,031.97. This represents a 1.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 value 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 Trading Up 2.4 %

Shares of NYSE:M opened at $12.87 on Wednesday. The company’s 50-day moving average price is $14.32 and its two-hundred day moving average price is $15.25. Macy’s, Inc. has a one year low of $12.48 and a one year high of $20.70. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. The stock has a market capitalization of $3.57 billion, a PE ratio of 21.81 and a beta of 2.07.

Macy’s (NYSE:M) last issued its quarterly earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.55 by $0.25. The firm had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.76 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. On average, equities analysts forecast that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.1824 per share. 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 5.67%. The ex-dividend date was Friday, March 14th. Macy’s’s dividend payout ratio is 35.44%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Trifecta Capital Advisors LLC acquired a new stake in Macy’s in the 4th quarter valued at about $34,000. Quest Partners LLC bought a new stake in Macy’s in the third quarter valued at approximately $35,000. Jones Financial Companies Lllp lifted its position in shares of Macy’s by 82.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after buying an additional 969 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of Macy’s during the 4th quarter worth approximately $38,000. Finally, Bessemer Group Inc. increased its holdings in shares of Macy’s by 495.5% during 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 during the last quarter. Institutional investors own 87.36% of the company’s stock.

Analyst Upgrades and Downgrades

M has been the subject of several recent analyst reports. New Street Research set a $13.00 target price on shares of Macy’s in a research note on Thursday, March 6th. UBS Group dropped their price objective on Macy’s from $9.00 to $8.00 and set a “sell” rating on the stock in a research note on Friday, March 7th. Morgan Stanley set a $14.00 target price on Macy’s in a research note on Monday, March 10th. JPMorgan Chase & Co. lowered Macy’s from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $19.00 to $14.00 in a research report on Thursday, March 6th. Finally, StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.