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

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

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

• On Monday, March 25th, Antony Spring sold 3,075 shares of Macy’s stock. The shares were sold at an average price of $20.28, for a total transaction of $62,361.00.

Macy’s Stock Up 4.0 %

M opened at $19.85 on Thursday. The stock’s fifty day simple moving average is $19.43 and its 200 day simple moving average is $16.30. Macy’s, Inc. has a 1-year low of $10.54 and a 1-year high of $22.10. The stock has a market cap of $5.44 billion, a PE ratio of 53.64 and a beta of 2.14. The company has a current ratio of 1.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.72.

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

Macy’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be issued a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Thursday, March 14th. This is a boost from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s payout ratio is currently 186.49%.

Analysts Set New Price Targets

A number of research firms have recently commented on M. Citigroup upgraded 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 research note on Friday, February 2nd. Morgan Stanley reduced their price target on Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 28th. TD Cowen downgraded Macy’s from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $23.00 to $20.00 in a research note on Thursday, February 29th. JPMorgan Chase & Co. upped their price objective on Macy’s from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. Finally, Telsey Advisory Group raised their target price 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. 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.45.

Hedge Funds Weigh In On Macy’s

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. increased its position in Macy’s by 1,054.0% during the second quarter. Point72 Asset Management L.P. now owns 10,846,841 shares of the company’s stock worth $174,092,000 after acquiring an additional 9,906,912 shares during the period. Holocene Advisors LP raised its position in shares of Macy’s by 171.1% in the second quarter. Holocene Advisors LP now owns 5,582,759 shares of the company’s stock valued at $89,603,000 after buying an additional 3,523,368 shares in the last quarter. Norges Bank bought a new position in Macy’s during the 4th quarter worth $62,529,000. Vanguard Group Inc. increased its position 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 purchasing an additional 2,645,577 shares during the period. Finally, Schonfeld Strategic Advisors LLC increased its position in shares of Macy’s by 196.2% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 3,453,241 shares of the company’s stock worth $71,309,000 after purchasing an additional 2,287,287 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

About Macy’s

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.