Macy’s, Inc. (NYSE:M) CEO Antony Spring Sells 13,404 Shares of Stock

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

Macy’s Stock Performance

Shares of M opened at $19.64 on Tuesday. Macy’s, Inc. has a one year low of $10.54 and a one year high of $22.10. The company has a 50-day moving average of $19.38 and a two-hundred day moving average of $16.22. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 53.07 and a beta of 2.14. 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 announced its earnings results on Tuesday, February 27th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $1.98 by $0.47. The company had revenue of $8.12 billion during 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 business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the company posted $1.88 earnings per share. On average, equities research analysts expect that Macy’s, Inc. will post 2.57 earnings per share for the current year.

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be given a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.54%. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, March 14th. Macy’s’s dividend payout ratio is 186.49%.

Wall Street Analyst Weigh In

A number of research firms have commented on M. Telsey Advisory Group increased their price objective on shares of Macy’s from $15.00 to $21.00 and gave the company a “market perform” rating in a research note on Wednesday, February 28th. TD Cowen downgraded shares of Macy’s from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $23.00 to $20.00 in a research note on Thursday, February 29th. Morgan Stanley dropped 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. The Goldman Sachs Group increased their target price on shares of Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, Citigroup raised shares of Macy’s from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $14.00 to $18.00 in a report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $17.45.

Hedge Funds Weigh In On Macy’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Glassman Wealth Services raised its position in Macy’s by 154.5% during the fourth quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock valued at $25,000 after acquiring an additional 743 shares in the last quarter. FinTrust Capital Advisors LLC bought a new position in shares of Macy’s in the fourth quarter valued at approximately $26,000. Lindbrook Capital LLC grew its stake in shares of Macy’s by 253.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after acquiring an additional 944 shares during the last quarter. Atlas Capital Advisors LLC acquired a new stake in shares of Macy’s in the fourth quarter worth $29,000. Finally, Estabrook Capital Management grew its stake in shares of Macy’s by 77.8% in the first quarter. Estabrook Capital Management now owns 1,600 shares of the company’s stock worth $39,000 after acquiring an additional 700 shares during the last quarter. Institutional investors own 82.69% of the company’s stock.

Macy’s Company Profile

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.