Macy’s, Inc. (NYSE:M) CEO Antony Spring Sells 3,075 Shares

Macy’s, Inc. (NYSE:M) CEO Antony Spring sold 3,075 shares of Macy’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $20.28, for a total value of $62,361.00. Following the completion of the sale, the chief executive officer now directly owns 228,750 shares in the company, valued at approximately $4,639,050. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Friday, March 22nd, Antony Spring sold 13,404 shares of Macy’s stock. The shares were sold at an average price of $20.42, for a total transaction of $273,709.68.

Macy’s Price Performance

Macy’s stock traded down $0.48 during trading on Tuesday, reaching $19.15. The company had a trading volume of 5,181,564 shares, compared to its average volume of 8,464,878. The firm’s 50-day simple moving average is $19.38 and its 200 day simple moving average is $16.22. Macy’s, Inc. has a 1-year low of $10.54 and a 1-year high of $22.10. The firm has a market capitalization of $5.25 billion, a PE ratio of 52.19 and a beta of 2.14. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.39 and a current ratio of 1.37.

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

Macy’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be paid a dividend of $0.1737 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.69 dividend on an annualized basis and a yield of 3.63%. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s payout ratio is 186.49%.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on M shares. StockNews.com initiated coverage on shares of Macy’s in a research note on Saturday. They issued a “hold” rating for the company. TD Cowen lowered shares of Macy’s from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $23.00 to $20.00 in a report on Thursday, February 29th. Citigroup raised shares of Macy’s from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $14.00 to $18.00 in a research note on Friday, February 2nd. 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 report on Monday, March 18th. Finally, The Goldman Sachs Group boosted their price target on Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. 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 stock. According to MarketBeat, Macy’s currently has an average rating of “Hold” and an average price target of $17.45.

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.